3rd Quarter Results Pt 2
Prudential PLC
23 October 2007
Schedule 3 - Actual Exchange Rates
PRUDENTIAL PLC - NEW BUSINESS - QUARTER 3 2007 VERSUS QUARTER 3 2006
INSURANCE OPERATIONS
Single Regular Total Annual Equivalents (3)
Q3 2007 Q3 2006 +/-(%) Q3 2007 Q3 2006 +/-(%) Q3 2007 Q3 +/-(%) Q3 2007 Q3 2006 +/-(%)
2006
£m £m £m £m £m £m £m £m
UK Insurance
Operations
Product Summary
Internal Vesting 343 357 (4%) - - - 343 357 (4%) 34 36 (6%)
annuities
Direct and Partnership 227 228 (0%) - - - 227 228 (0%) 23 23 0%
Annuities
Intermediated 167 157 6% - - - 167 157 6% 17 16 6%
Annuities
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Individual 737 742 (1%) - - - 737 742 (1%) 74 74 0%
Annuities
Equity Release 41 25 64% - - - 41 25 64% 4 3 33%
Individual Pensions 9 6 50% 1 - - 10 6 67% 2 1 100%
Corporate Pensions 14 18 (22%) 16 7 129% 30 25 20% 17 9 89%
Unit Linked Bonds 62 90 (31%) - - - 62 90 (31%) 6 9 (33%)
With-Profit Bonds 69 36 92% - - - 69 36 92% 7 4 75%
Protection - - - 1 3 (67%) 1 3 (67%) 1 3 (67%)
Offshore Products 100 79 27% 1 - - 101 79 28% 11 8 38%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 1,032 996 4% 19 10 90% 1,051 1,006 4% 122 110 11%
Retirement ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Corporate Pensions 58 23 152% 26 37 (30%) 84 60 40% 32 39 (18%)
Other Products 43 46 (7%) 7 6 17% 50 52 (4%) 11 11 0%
DWP Rebates - - - - - - - - - - - -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Mature Life and 101 69 46% 33 43 (23%) 134 112 20% 43 50 (14%)
Pensions ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 1,133 1,065 6% 52 53 (2%) 1,185 1,118 6% 165 160 3%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Wholesale Annuities 7 22 (68%) - - - 7 22 (68%) 1 2 (50%)
Credit Life 2 178 (99%) - - - 2 178 (99%) - 18 -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 1,142 1,265 (10%) 52 53 (2%) 1,194 1,318 (9%) 166 180 (8%)
Operations ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Channel Summary
Direct and Partnership 586 601 (2%) 45 46 (2%) 631 647 (2%) 104 106 (2%)
Intermediated 549 464 18% 7 7 0% 556 471 18% 62 53 17%
Wholesale 7 200 (97%) - - - 7 200 (97%) 1 20 (95%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total 1,142 1,265 (10%) 52 53 (2%) 1,194 1,318 (9%) 166 180 (8%)
DWP Rebates - - - - - - - - - - - -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 1,142 1,265 (10%) 52 53 (2%) 1,194 1,318 (9%) 166 180 (8%)
Operations ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
US Insurance
Operations (5)
Fixed Annuities 130 203 (36%) - - - 130 203 (36%) 13 20 (35%)
Fixed Index Annuities 122 144 (15%) - - - 122 144 (15%) 12 14 (14%)
Variable Annuities 1,174 921 27% - - - 1,174 921 27% 117 92 27%
Life 2 2 0% 4 5 (20%) 6 7 (14%) 4 5 (20%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total Retail 1,428 1,270 12% 4 5 (20%) 1,432 1,275 12% 147 132 11%
Guaranteed Investment 127 15 747% - - - 127 15 747% 13 2 550%
Contracts
GIC - Medium Term Note (4) 104 (104%) - - - (4) 104 (104%) - 10 -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total US Insurance 1,551 1,389 12% 4 5 (20%) 1,555 1,394 12% 159 144 10%
Operations ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Asian Insurance
Operations (1b)
China 36 5 620% 13 8 63% 49 13 277% 17 9 89%
Hong Kong 124 85 46% 28 26 8% 152 111 37% 40 35 14%
India (6) 4 3 33% 43 22 95% 47 25 88% 43 22 95%
Indonesia 30 6 400% 28 18 56% 58 24 142% 31 19 63%
Japan 30 18 67% 5 2 150% 35 20 75% 8 4 100%
Korea 47 18 161% 67 52 29% 114 70 63% 72 54 33%
Malaysia 11 1 1,000% 17 17 0% 28 18 56% 18 17 6%
Singapore 119 66 80% 16 18 (11%) 135 84 61% 28 25 12%
Taiwan 36 11 227% 46 32 44% 82 43 91% 50 33 52%
Other (4) 8 3 167% 12 8 50% 20 11 82% 13 8 63%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Asian Insurance 445 216 106% 275 203 35% 720 419 72% 320 225 42%
Operations ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Group Total 3,138 2,870 9% 331 261 27% 3,469 3,131 11% 645 548 18%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
INVESTMENT OPERATIONS
Market & Net
Opening Other Currency Movement Closing
FUM Gross Redemptions Net Movements Movements In FUM FUM
Inflows Inflows
£m £m £m £m £m £m £m £m
M&G (5) Q3 2007 48,624 3,293 (3,067) 226 (85) 1,142 1,283 49,907
Q3 2006 40,135 3,186 (1,672) 1,514 105 504 2,123 42,258
+/-(%) 21% 3% (83%) (85%) (181%) 127% (40%) 18%
Asia Retail Mutual Q3 2007 13,677 10,463 (9,757) 706 (21) 758 1,443 15,120
Funds
Q3 2006 10,262 4,596 (4,788) (192) (40) 366 134 10,396
+/-(%) 33% 128% (104%) 468% 48% 107% 977% 45%
Asia Third Party Q3 2007 903 11 (5) 6 - 71 77 980
Q3 2006 673 71 (29) 42 - 43 85 758
+/-(%) 34% (85%) 83% (86%) - 65% (9%) 29%
US Retail Mutual Q3 2007 18 14 (1) 13 - 1 14 32
Funds
Q3 2006 - - - - - - - -
+/-(%) - - - - - - - -
Total Investment Q3 2007 63,222 13,781 (12,830) 951 (106) 1,972 2,817 66,039
Products
Q3 2006 51,070 7,853 (6,489) 1,364 65 913 2,342 53,412
+/-(%) 24% 75% (98%) (30%) (263%) 116% 20% 24%
Schedule 4 - Actual Exchange Rates
PRUDENTIAL PLC - NEW BUSINESS - QUARTER 3 2007 VERSUS QUARTER 2 2007
INSURANCE OPERATIONS
Single Regular Total Annual Equivalents (3)
Q3 2007 Q 2 +/-(%) Q3 2007 Q2 2007 +/-(%) Q3 2007 Q2 2007 +/-(%) Q3 2007 Q2 +/-(%)
2007 2007
£m £m £m £m £m £m £m £m
UK Insurance
Operations
Product Summary
Internal Vesting 343 362 (5%) - - - 343 362 (5%) 34 36 (6%)
annuities
Direct and Partnership 227 226 0% - - - 227 226 0% 23 23 0%
Annuities
Intermediated 167 150 11% - - - 167 150 11% 17 15 13%
Annuities
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Individual 737 738 (0%) - - - 737 738 (0%) 74 74 0%
Annuities
Equity Release 41 33 24% - - - 41 33 24% 4 3 33%
Individual Pensions 9 9 0% 1 - - 10 9 11% 2 1 100%
Corporate Pensions 14 22 (36%) 16 24 (33%) 30 46 (35%) 17 26 (35%)
Unit Linked Bonds 62 67 (7%) - - - 62 67 (7%) 6 7 (14%)
With-Profit Bonds 69 58 19% - - - 69 58 19% 7 6 17%
Protection - - - 1 1 0% 1 1 0% 1 1 0%
Offshore Products 100 78 28% 1 1 0% 101 79 28% 11 9 22%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 1,032 1,005 3% 19 26 (27%) 1,051 1,031 2% 122 127 (4%)
Retirement ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Corporate Pensions 58 64 (9%) 26 32 (19%) 84 96 (13%) 32 38 (16%)
Other Products 43 51 (16%) 7 7 0% 50 58 (14%) 11 12 (8%)
DWP Rebates - - - - - - - - - - - -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Mature Life and 101 115 (12%) 33 39 (15%) 134 154 (13%) 43 51 (16%)
Pensions ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 1,133 1,120 1% 52 65 (20%) 1,185 1,185 0% 165 177 (7%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Wholesale Annuities 7 35 (80%) - - - 7 35 (80%) 1 4 (75%)
Credit Life 2 5 (60%) - - - 2 5 (60%) - 1 -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 1,142 1,160 (2%) 52 65 (20%) 1,194 1,225 (3%) 166 181 (8%)
Operations ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Channel Summary
Direct and Partnership 586 561 4% 45 59 (24%) 631 620 2% 104 115 (10%)
Intermediated 549 559 (2%) 7 6 17% 556 565 (2%) 62 62 0%
Wholesale 7 40 (83%) - - - 7 40 (83%) 1 4 (75%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total 1,142 1,160 (2%) 52 65 (20%) 1,194 1,225 (3%) 166 181 (8%)
DWP Rebates - - - - - - - - - - - -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 1,142 1,160 (2%) 52 65 (20%) 1,194 1,225 (3%) 166 181 (8%)
Operations ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
US Insurance
Operations (8)
Fixed Annuities 130 157 (17%) - - - 130 157 (17%) 13 16 (19%)
Fixed Index Annuities 122 111 10% - - - 122 111 10% 12 11 9%
Variable Annuities 1,174 1,193 (2%) - - - 1,174 1,193 (2%) 117 119 (2%)
Life 2 1 100% 4 5 (20%) 6 6 0% 4 5 (20%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total Retail 1,428 1,462 (2%) 4 5 (20%) 1,432 1,467 (2%) 147 151 (3%)
Guaranteed Investment 127 1 12,600% - - - 127 1 12,600% 13 - -
Contracts
GIC - Medium Term Note (4) 200 (102%) - - - (4) 200 (102%) - 20 -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total US Insurance 1,551 1,663 (7%) 4 5 (20%) 1,555 1,668 (7%) 159 171 (7%)
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Asian Insurance
Operations (1b)
China 36 13 177% 13 9 44% 49 22 123% 17 10 70%
Hong Kong 124 97 28% 28 28 0% 152 125 22% 40 38 5%
India (6) 4 4 0% 43 25 72% 47 29 62% 43 25 72%
Indonesia 30 19 58% 28 23 22% 58 42 38% 31 25 24%
Japan 30 22 36% 5 4 25% 35 26 35% 8 6 33%
Korea 47 45 4% 67 61 10% 114 106 8% 72 66 9%
Malaysia 11 7 57% 17 18 (6%) 28 25 12% 18 19 (5%)
Singapore 119 203 (41%) 16 15 7% 135 218 (38%) 28 35 (20%)
Taiwan 36 27 33% 46 103 (55%) 82 130 (37%) 50 106 (53%)
Other (4) 8 6 33% 12 12 0% 20 18 11% 13 13 0%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Asian Insurance 445 443 0% 275 298 (8%) 720 741 (3%) 320 342 (6%)
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Group Total 3,138 3,266 (4%) 331 368 (10%) 3,469 3,634 (5%) 645 695 (7%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
INVESTMENT OPERATIONS
Market & Net
Opening Other Currency Movement Closing
FUM Gross Redemptions Net Movements Movements In FUM FUM
Inflows Inflows
£m £m £m £m £m £m £m £m
M&G (5) Q3 2007 48,624 3,293 (3,067) 226 (85) 1,142 1,283 49,907
Q2 2007 46,125 4,236 (2,236) 2,000 43 456 2,499 48,624
+/-(%) 5% (22%) (37%) (89%) (298%) 150% (49%) 3%
Asia Retail Mutual Q3 2007 13,677 10,463 (9,757) 706 (21) 758 1,443 15,120
Funds
Q2 2007 12,003 10,311 (9,250) 1,061 (63) 676 1,674 13,677
+/-(%) 14% 1% (5%) (33%) 67% 12% (14%) 11%
Asia Third Party Q3 2007 903 11 (5) 6 - 71 77 980
Q2 2007 835 5 (4) 1 - 67 68 903
+/-(%) 8% 120% (25%) 500% - 6% 13% 9%
US Retail Mutual Q3 2007 18 14 (1) 13 - 1 14 32
Funds
Q2 2007 5 15 (1) 14 - (1) 13 18
+/-(%) 260% (7%) 0% (7%) - - 8% 78%
Total Investment Q3 2007 63,222 13,781 (12,830) 951 (106) 1,972 2,817 66,039
Products
Q2 2007 58,968 14,567 (11,491) 3,076 (20) 1,198 4,254 63,222
+/-(%) 7% (5%) (12%) (69%) (430%) 65% (34%) 4%
Schedule 5 - Constant Exchange Rates
PRUDENTIAL PLC - NEW BUSINESS - NINE MONTHS 2007
TOTAL INSURANCE AND INVESTMENT NEW BUSINESS
UK US (1a) Asia Total
(1a)
2007 Q3 2006 Q3 2007 Q3 2006 Q3 2007 Q3 2006 Q3 2007 Q3 2006 Q3
YTD YTD +/-(%) YTD YTD +/-(%) YTD YTD +/-(%) YTD YTD +/-(%)
£m £m £m £m £m £m £m £m
Total Insurance 3,754 5,303 (29%) 4,989 4,162 20% 2,045 1,252 63% 10,788 10,717 1%
Products
Total Investment 10,812 9,981 8% 33 - - 27,945 14,095 98% 38,790 24,076 61%
Products - Gross
Inflows (2)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
14,566 15,284 (5%) 5,022 4,162 21% 29,990 15,347 95% 49,578 34,793 42%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
INSURANCE OPERATIONS
Single Regular Total PVNBP
2007 Q3 2006 Q3 2007 Q3 2006 Q3 2007 Q3 2006 Q3 2007 Q3 2006 Q3
YTD YTD +/-(%) YTD YTD +/-(%) YTD YTD +/-(%) YTD YTD +/-(%)
£m £m £m £m £m £m £m £m
UK Insurance
Operations
Product Summary
Internal Vesting 1,030 972 6% - - - 1,030 972 6% 1,030 972 6%
annuities
Direct and 658 501 31% - - - 658 501 31% 658 501 31%
Partnership
Annuities
Intermediated 449 404 11% - - - 449 404 11% 449 404 11%
Annuities
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Individual 2,137 1,877 14% - - - 2,137 1,877 14% 2,137 1,877 14%
Annuities
Equity Release 108 55 96% - - - 108 55 96% 108 55 96%
Individual Pensions 27 16 69% 1 - - 28 16 75% 29 16 81%
Corporate Pensions 121 53 128% 58 39 49% 179 92 95% 383 176 118%
Unit Linked Bonds 200 303 (34%) - - - 200 303 (34%) 200 303 (34%)
With-Profit Bonds 183 90 103% - - - 183 90 103% 183 90 103%
Protection - 2 - 3 9 (67%) 3 11 (73%) 20 39 (49%)
Offshore Products 305 440 (31%) 3 - - 308 440 (30%) 320 440 (27%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 3,081 2,836 9% 65 48 35% 3,146 2,884 9% 3,380 2,996 13%
Retirement
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Corporate Pensions 168 188 (11%) 86 81 6% 254 269 (6%) 469 530 (12%)
Other Products 143 180 (21%) 20 19 5% 163 199 (18%) 206 267 (23%)
DWP Rebates 129 161 (20%) - - - 129 161 (20%) 129 161 (20%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Mature Life 440 529 (17%) 106 100 6% 546 629 (13%) 804 958 (16%)
and Pensions
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 3,521 3,365 5% 171 148 16% 3,692 3,513 5% 4,184 3,954 6%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Wholesale Annuities 45 1,300 (97%) - - - 45 1,300 (97%) 45 1,300 (97%)
Credit Life 17 490 (97%) - - - 17 490 (97%) 17 490 (97%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 3,583 5,155 (30%) 171 148 16% 3,754 5,303 (29%) 4,246 5,744 (26%)
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Channel Summary
Direct and 1,737 1,594 9% 151 127 19% 1,888 1,721 10% 2,330 2,088 12%
Partnership
Intermediated 1,657 1,610 3% 20 21 (5%) 1,677 1,631 3% 1,727 1,705 1%
Wholesale 60 1,790 (97%) - - - 60 1,790 (97%) 60 1,790 (97%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total 3,454 4,994 (31%) 171 148 16% 3,625 5,142 (30%) 4,117 5,583 (26%)
DWP Rebates 129 161 (20%) - - - 129 161 (20%) 129 161 (20%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 3,583 5,155 (30%) 171 148 16% 3,754 5,303 (29%) 4,246 5,744 (26%)
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
US Insurance
Operations (1a)
Fixed Annuities 421 473 (11%) - - - 421 473 (11%) 421 473 (11%)
Fixed Index 342 399 (14%) - - - 342 399 (14%) 342 399 (14%)
Annuities
Variable Annuities 3,417 2,571 33% - - - 3,417 2,571 33% 3,417 2,571 33%
Life 5 5 0% 13 12 8% 18 17 6% 104 95 9%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total Retail 4,185 3,448 21% 13 12 8% 4,198 3,460 21% 4,284 3,538 21%
Guaranteed 260 297 (12%) - - - 260 297 (12%) 260 297 (12%)
Investment
Contracts
GIC - Medium Term 531 405 31% - - - 531 405 31% 531 405 31%
Note
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total US Insurance 4,976 4,150 20% 13 12 8% 4,989 4,162 20% 5,075 4,240 20%
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Asian Insurance
Operations (1a)
China 55 21 162% 33 20 65% 88 41 115% 203 132 54%
Hong Kong 323 204 58% 82 62 32% 405 266 52% 772 554 39%
India (6) 20 14 43% 124 76 63% 144 90 60% 509 261 95%
Indonesia 65 16 306% 71 45 58% 136 61 123% 302 169 79%
Japan 82 37 122% 16 3 433% 98 40 145% 148 49 202%
Korea 119 72 65% 180 146 23% 299 218 37% 983 689 43%
Malaysia 20 3 567% 49 47 4% 69 50 38% 286 274 4%
Singapore 425 260 63% 46 45 2% 471 305 54% 721 543 33%
Taiwan 99 52 90% 182 96 90% 281 148 90% 970 540 80%
Other (4) 21 9 133% 33 24 38% 54 33 64% 122 95 28%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Asian 1,229 688 79% 816 564 45% 2,045 1,252 63% 5,016 3,306 52%
Insurance Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Group Total 9,788 9,993 (2%) 1,000 724 38% 10,788 10,717 1% 14,337 13,290 8%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Schedule 6 - Actual Exchange Rates
PRUDENTIAL PLC - NEW BUSINESS - NINE MONTHS 2007
TOTAL INSURANCE AND INVESTMENT NEW BUSINESS
UK US (1b) Asia Total
(1b)
2007 Q3 2006 Q3 2007 Q3 2006 Q3 2007 Q3 2006 Q3 2007 Q3 2006 Q3
YTD YTD +/-(%) YTD YTD +/-(%) YTD YTD +/-(%) YTD YTD +/-(%)
£m £m £m £m £m £m £m £m
Total Insurance 3,754 5,303 (29%) 4,989 4,548 10% 2,045 1,334 53% 10,788 11,185 (4%)
Products
Total Investment 10,812 9,981 8% 33 - - 27,945 14,694 90% 38,790 24,675 57%
Products - Gross
Inflows (2)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
14,566 15,284 (5%) 5,022 4,548 10% 29,990 16,028 87% 49,578 35,860 38%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
INSURANCE OPERATIONS
Single Regular Total PVNBP
2007 Q3 2006 Q3 2007 Q3 2006 Q3 2007 Q3 2006 Q3 2007 Q3 2006 Q3
YTD YTD +/-(%) YTD YTD +/-(%) YTD YTD +/-(%) YTD YTD +/-(%)
£m £m £m £m £m £m £m £m
UK Insurance
Operations
Product Summary
Internal Vesting 1,030 972 6% - - - 1,030 972 6% 1,030 972 6%
annuities
Direct and 658 501 31% - - - 658 501 31% 658 501 31%
Partnership Annuities
Intermediated 449 404 11% - - - 449 404 11% 449 404 11%
Annuities
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Individual 2,137 1,877 14% - - - 2,137 1,877 14% 2,137 1,877 14%
Annuities
Equity Release 108 55 96% - - - 108 55 96% 108 55 96%
Individual Pensions 27 16 69% 1 - - 28 16 75% 29 16 81%
Corporate Pensions 121 53 128% 58 39 49% 179 92 95% 383 176 118%
Unit Linked Bonds 200 303 (34%) - - - 200 303 (34%) 200 303 (34%)
With-Profit Bonds 183 90 103% - - - 183 90 103% 183 90 103%
Protection - 2 - 3 9 (67%) 3 11 (73%) 20 39 (49%)
Offshore Products 305 440 (31%) 3 - - 308 440 (30%) 320 440 (27%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 3,081 2,836 9% 65 48 35% 3,146 2,884 9% 3,380 2,996 13%
Retirement
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Corporate Pensions 168 188 (11%) 86 81 6% 254 269 (6%) 469 530 (12%)
Other Products 143 180 (21%) 20 19 5% 163 199 (18%) 206 267 (23%)
DWP Rebates 129 161 (20%) - - - 129 161 (20%) 129 161 (20%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Mature Life and 440 529 (17%) 106 100 6% 546 629 (13%) 804 958 (16%)
Pensions
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 3,521 3,365 5% 171 148 16% 3,692 3,513 5% 4,184 3,954 6%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Wholesale Annuities 45 1,300 (97%) - - - 45 1,300 (97%) 45 1,300 (97%)
Credit Life 17 490 (97%) - - - 17 490 (97%) 17 490 (97%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 3,583 5,155 (30%) 171 148 16% 3,754 5,303 (29%) 4,246 5,744 (26%)
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Channel Summary
Direct and 1,737 1,594 9% 151 127 19% 1,888 1,721 10% 2,330 2,088 12%
Partnership
Intermediated 1,657 1,610 3% 20 21 (5%) 1,677 1,631 3% 1,727 1,705 1%
Wholesale 60 1,790 (97%) - - - 60 1,790 (97%) 60 1,790 (97%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total 3,454 4,994 (31%) 171 148 16% 3,625 5,142 (30%) 4,117 5,583 (26%)
DWP Rebates 129 161 (20%) - - - 129 161 (20%) 129 161 (20%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 3,583 5,155 (30%) 171 148 16% 3,754 5,303 (29%) 4,246 5,744 (26%)
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
US Insurance
Operations (1b)
Fixed Annuities 421 516 (18%) - - - 421 516 (18%) 421 516 (18%)
Fixed Index Annuities 342 437 (22%) - - - 342 437 (22%) 342 437 (22%)
Variable Annuities 3,417 2,809 22% - - - 3,417 2,809 22% 3,417 2,809 22%
Life 5 6 (17%) 13 13 0% 18 19 (5%) 104 104 0%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total Retail 4,185 3,768 11% 13 13 0% 4,198 3,781 11% 4,284 3,866 11%
Guaranteed Investment 260 325 (20%) - - - 260 325 (20%) 260 325 (20%)
Contracts
GIC - Medium Term 531 442 20% - - - 531 442 20% 531 442 20%
Note
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total US Insurance 4,976 4,535 10% 13 13 0% 4,989 4,548 10% 5,075 4,633 10%
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Asian Insurance
Operations (1b)
China 55 22 150% 33 21 57% 88 43 105% 203 138 47%
Hong Kong 323 224 44% 82 68 21% 405 292 39% 772 609 27%
India (6) 20 14 43% 124 77 61% 144 91 58% 509 263 94%
Indonesia 65 17 282% 71 49 45% 136 66 106% 302 183 65%
Japan 82 41 100% 16 3 433% 98 44 123% 148 55 169%
Korea 119 76 57% 180 155 16% 299 231 29% 983 730 35%
Malaysia 20 3 567% 49 48 2% 69 51 35% 286 282 1%
Singapore 425 271 57% 46 47 (2%) 471 318 48% 721 566 27%
Taiwan 99 58 71% 182 106 72% 281 164 71% 970 600 62%
Other (4) 21 9 133% 33 25 32% 54 34 59% 122 99 23%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Asian Insurance 1,229 735 67% 816 599 36% 2,045 1,334 53% 5,016 3,525 42%
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Group Total 9,788 10,425 (6%) 1,000 760 32% 10,788 11,185 (4%) 14,337 13,902 3%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Schedule 7 - Actual Exchange Rates
PRUDENTIAL PLC - NEW BUSINESS - QUARTER 3 2007 VERSUS QUARTER 3 2006
INSURANCE OPERATIONS
Single Regular Total PVNBP
Q3 2007 Q3 2006 +/-(%) Q3 2007 Q3 2006 +/-(%) Q3 2007 Q3 2006 +/-(%) Q3 2007 Q3 2006 +/-(%)
£m £m £m £m £m £m £m £m
UK Insurance
Operations
Product Summary
Internal Vesting 343 357 (4%) - - - 343 357 (4%) 343 357 (4%)
annuities
Direct and Partnership 227 228 (0%) - - - 227 228 (0%) 227 228 (0%)
Annuities
Intermediated 167 157 6% - - - 167 157 6% 167 157 6%
Annuities
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Individual 737 742 (1%) - - - 737 742 (1%) 737 742 (1%)
Annuities
Equity Release 41 25 64% - - - 41 25 64% 41 25 64%
Individual Pensions 9 6 50% 1 - - 10 6 67% 9 6 50%
Corporate Pensions 14 18 (22%) 16 7 129% 30 25 20% 87 52 67%
Unit Linked Bonds 62 90 (31%) - - - 62 90 (31%) 62 90 (31%)
With-Profit Bonds 69 36 92% - - - 69 36 92% 69 36 92%
Protection - - - 1 3 (67%) 1 3 (67%) 6 18 (67%)
Offshore Products 100 79 27% 1 - - 101 79 28% 105 79 33%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 1,032 996 4% 19 10 90% 1,051 1,006 4% 1,116 1,048 6%
Retirement
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Corporate Pensions 58 23 152% 26 37 (30%) 84 60 40% 155 180 (14%)
Other Products 43 46 (7%) 7 6 17% 50 52 (4%) 61 92 (34%)
DWP Rebates - - - - - - - - - - - -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Mature Life and 101 69 46% 33 43 (23%) 134 112 20% 216 272 (21%)
Pensions
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 1,133 1,065 6% 52 53 (2%) 1,185 1,118 6% 1,332 1,320 1%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Wholesale Annuities 7 22 (68%) - - - 7 22 (68%) 7 22 (68%)
Credit Life 2 178 (99%) - - - 2 178 (99%) 2 178 (99%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 1,142 1,265 (10%) 52 53 (2%) 1,194 1,318 (9%) 1,341 1,520 (12%)
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Channel Summary
Direct and Partnership 586 601 (2%) 45 46 (2%) 631 647 (2%) 763 800 (5%)
Intermediated 549 464 18% 7 7 0% 556 471 18% 571 520 10%
Wholesale 7 200 (97%) - - - 7 200 (97%) 7 200 (97%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total 1,142 1,265 (10%) 52 53 (2%) 1,194 1,318 (9%) 1,341 1,520 (12%)
DWP Rebates - - - - - - - - - - - -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 1,142 1,265 (10%) 52 53 (2%) 1,194 1,318 (9%) 1,341 1,520 (12%)
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
US Insurance
Operations (8)
Fixed Annuities 130 203 (36%) - - - 130 203 (36%) 130 203 (36%)
Fixed Index Annuities 122 144 (15%) - - - 122 144 (15%) 122 144 (15%)
Variable Annuities 1,174 921 27% - - - 1,174 921 27% 1,174 921 27%
Life 2 2 0% 4 5 (20%) 6 7 (14%) 36 37 (3%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total Retail 1,428 1,270 12% 4 5 (20%) 1,432 1,275 12% 1,462 1,305 12%
Guaranteed Investment 127 15 747% - - - 127 15 747% 127 15 747%
Contracts
GIC - Medium Term Note (4) 104 (104%) - - - (4) 104 (104%) (4) 104 (104%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total US Insurance 1,551 1,389 12% 4 5 (20%) 1,555 1,394 12% 1,585 1,424 11%
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Asian Insurance
Operations (1b)
China 36 5 620% 13 8 63% 49 13 277% 91 50 82%
Hong Kong 124 85 46% 28 26 8% 152 111 37% 279 249 12%
India (6) 4 3 33% 43 22 95% 47 25 88% 169 86 97%
Indonesia 30 6 400% 28 18 56% 58 24 142% 124 66 88%
Japan 30 18 67% 5 2 150% 35 20 75% 51 25 104%
Korea 47 18 161% 67 52 29% 114 70 63% 375 238 58%
Malaysia 11 1 1,000% 17 17 0% 28 18 56% 100 97 3%
Singapore 119 66 80% 16 18 (11%) 135 84 61% 237 175 35%
Taiwan 36 11 227% 46 32 44% 82 43 91% 259 179 45%
Other (4) 8 3 167% 12 8 50% 20 11 82% 45 32 41%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Asian Insurance 445 216 106% 275 203 35% 720 419 72% 1,730 1,197 45%
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Group Total 3,138 2,870 9% 331 261 27% 3,469 3,131 11% 4,656 4,141 12%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
INVESTMENT OPERATIONS
Market & Net
Opening Other Currency Movement Closing
FUM Gross Redemptions Net Movements Movements In FUM FUM
Inflows Inflows
£m £m £m £m £m £m £m £m
M&G (5) Q3 2007 48,624 3,293 (3,067) 226 (85) 1,142 1,283 49,907
Q3 2006 40,135 3,186 (1,672) 1,514 105 504 2,123 42,258
+/-(%) 21% 3% (83%) (85%) (181%) 127% (40%) 18%
Asia Retail Mutual Q3 2007 13,677 10,463 (9,757) 706 (21) 758 1,443 15,120
Funds
Q3 2006 10,262 4,596 (4,788) (192) (40) 366 134 10,396
+/-(%) 33% 128% (104%) 468% 48% 107% 977% 45%
Asia Third Party Q3 2007 903 11 (5) 6 - 71 77 980
Q3 2006 673 71 (29) 42 - 43 85 758
+/-(%) 34% (85%) 83% (86%) - 65% (9%) 29%
US Retail Mutual Q3 2007 18 14 (1) 13 - 1 14 32
Funds
Q3 2006 - - - - - - - -
+/-(%) - - - - - - - -
Total Investment Q3 2007 63,222 13,781 (12,830) 951 (106) 1,972 2,817 66,039
Products
Q3 2006 51,070 7,853 (6,489) 1,364 65 913 2,342 53,412
+/-(%) 24% 75% (98%) (30%) (263%) 116% 20% 24%
Schedule 8 - Actual Exchange Rates
PRUDENTIAL PLC - NEW BUSINESS - QUARTER 3 2007 VERSUS QUARTER 2 2007
INSURANCE OPERATIONS
Single Regular Total PVNBP
Q3 2007 Q 2 +/-(%) Q3 2007 Q2 2007 +/-(%) Q3 2007 Q2 2007 +/-(%) Q3 2007 Q 2 +/-(%)
2007 2007
£m £m £m £m £m £m £m £m
UK Insurance
Operations
Product Summary
Internal Vesting 343 362 (5%) - - - 343 362 (5%) 343 362 (5%)
annuities
Direct and Partnership 227 226 0% - - - 227 226 0% 227 226 0%
Annuities
Intermediated 167 150 11% - - - 167 150 11% 167 150 11%
Annuities
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Individual 737 738 (0%) - - - 737 738 (0%) 737 738 (0%)
Annuities
Equity Release 41 33 24% - - - 41 33 24% 41 33 24%
Individual Pensions 9 9 0% 1 - - 10 9 11% 9 11 (18%)
Corporate Pensions 14 22 (36%) 16 24 (33%) 30 46 (35%) 87 138 (37%)
Unit Linked Bonds 62 67 (7%) - - - 62 67 (7%) 62 67 (7%)
With-Profit Bonds 69 58 19% - - - 69 58 19% 69 58 19%
Protection - - - 1 1 0% 1 1 0% 6 7 (14%)
Offshore Products 100 78 28% 1 1 0% 101 79 28% 105 84 25%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 1,032 1,005 3% 19 26 (27%) 1,051 1,031 2% 1,116 1,136 (2%)
Retirement
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Corporate Pensions 58 64 (9%) 26 32 (19%) 84 96 (13%) 155 165 (6%)
Other Products 43 51 (16%) 7 7 0% 50 58 (14%) 61 74 (18%)
DWP Rebates - - - - - - - - - - - -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Mature Life and 101 115 (12%) 33 39 (15%) 134 154 (13%) 216 239 (10%)
Pensions
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 1,133 1,120 1% 52 65 (20%) 1,185 1,185 0% 1,332 1,375 (3%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Wholesale Annuities 7 35 (80%) - - - 7 35 (80%) 7 35 (80%)
Credit Life 2 5 (60%) - - - 2 5 (60%) 2 5 (60%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 1,142 1,160 (2%) 52 65 (20%) 1,194 1,225 (3%) 1,341 1,415 (5%)
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Channel Summary
Direct and Partnership 586 561 4% 45 59 (24%) 631 620 2% 763 794 (4%)
Intermediated 549 559 (2%) 7 6 17% 556 565 (2%) 571 581 (2%)
Wholesale 7 40 (83%) - - - 7 40 (83%) 7 40 (83%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total 1,142 1,160 (2%) 52 65 (20%) 1,194 1,225 (3%) 1,341 1,415 (5%)
DWP Rebates - - - - - - - - - - - -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 1,142 1,160 (2%) 52 65 (20%) 1,194 1,225 (3%) 1,341 1,415 (5%)
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
US Insurance
Operations (8)
Fixed Annuities 130 157 (17%) - - - 130 157 (17%) 130 157 (17%)
Fixed Index Annuities 122 111 10% - - - 122 111 10% 122 111 10%
Variable Annuities 1,174 1,193 (2%) - - - 1,174 1,193 (2%) 1,174 1,193 (2%)
Life 2 1 100% 4 5 (20%) 6 6 0% 36 32 13%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total Retail 1,428 1,462 (2%) 4 5 (20%) 1,432 1,467 (2%) 1,462 1,493 (2%)
Guaranteed Investment 127 1 12,600% - - - 127 1 12,600% 127 1 12,600%
Contracts
GIC - Medium Term Note (4) 200 (102%) - - - (4) 200 (102%) (4) 200 (102%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total US Insurance 1,551 1,663 (7%) 4 5 (20%) 1,555 1,668 (7%) 1,585 1,694 (6%)
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Asian Insurance
Operations (1b)
China 36 13 177% 13 9 44% 49 22 123% 91 55 65%
Hong Kong 124 97 28% 28 28 0% 152 125 22% 279 246 13%
India (6) 4 4 0% 43 25 72% 47 29 62% 169 105 61%
Indonesia 30 19 58% 28 23 22% 58 42 38% 124 97 28%
Japan 30 22 36% 5 4 25% 35 26 35% 51 37 38%
Korea 47 45 4% 67 61 10% 114 106 8% 375 329 14%
Malaysia 11 7 57% 17 18 (6%) 28 25 12% 100 103 (3%)
Singapore 119 203 (41%) 16 15 7% 135 218 (38%) 237 290 (18%)
Taiwan 36 27 33% 46 103 (55%) 82 130 (37%) 259 525 (51%)
Other (4) 8 6 33% 12 12 0% 20 18 11% 45 41 10%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Asian Insurance 445 443 0% 275 298 (8%) 720 741 (3%) 1,730 1,828 (5%)
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Group Total 3,138 3,266 (4%) 331 368 (10%) 3,469 3,634 (5%) 4,656 4,937 (6%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
INVESTMENT OPERATIONS
Market & Net
Opening Other Currency Movement Closing
FUM Gross Redemptions Net Movements Movements In FUM FUM
Inflows Inflows
£m £m £m £m £m £m £m £m
M&G (5) Q3 2007 48,624 3,293 (3,067) 226 (85) 1,142 1,283 49,907
Q2 2007 46,125 4,236 (2,236) 2,000 43 456 2,499 48,624
+/-(%) 5% (22%) (37%) (89%) (298%) 150% (49%) 3%
Asia Retail Mutual Q3 2007 13,677 10,463 (9,757) 706 (21) 758 1,443 15,120
Funds
Q2 2007 12,003 10,311 (9,250) 1,061 (63) 676 1,674 13,677
+/-(%) 14% 1% (5%) (33%) 67% 12% (14%) 11%
Asia Third Party Q3 2007 903 11 (5) 6 - 71 77 980
Q2 2007 835 5 (4) 1 - 67 68 903
+/-(%) 8% 120% (25%) 500% - 6% 13% 9%
US Retail Mutual Q3 2007 18 14 (1) 13 - 1 14 32
Funds
Q2 2007 5 15 (1) 14 - (1) 13 18
+/-(%) 260% (7%) 0% (7%) - - 8% 78%
Total Investment Q3 2007 63,222 13,781 (12,830) 951 (106) 1,972 2,817 66,039
Products
Q2 2007 58,968 14,567 (11,491) 3,076 (20) 1,198 4,254 63,222
+/-(%) 7% (5%) (12%) (69%) (430%) 65% (34%) 4%
Prudential plc - New Business Schedules
Basis of preparation
The new business schedules are provided as an indicative volume measure of
transactions undertaken in the reporting period that have the potential to
generate profits for shareholders. The amounts shown are not, and not intended
to be, reflective of premium income recorded in the IFRS income statement.
The format of the schedules is consistent with the distinction between insurance
and investment products as applied for previous financial reporting periods.
Products categorised as 'insurance' refer to those classified as contracts of
long-term insurance business for regulatory reporting purposes, i.e. falling
within one of the classes of insurance specified in part II of Schedule 1 to the
Regulated Activities Order under FSA regulations.
The details shown for insurance products include contributions for contracts
that are classified under IFRS 4 'Insurance Contracts' as not containing
significant insurance risk. These products are described as investment contracts
or other financial instruments under IFRS. Contracts included in this category
are primarily certain unit-linked and similar contracts written in UK Insurance
Operations, and Guaranteed Investment Contracts and similar funding agreements
written in US Operations.
New business premiums for regular premium products are shown on an annualised
basis. Department of Work and Pensions rebate business is classified as single
recurrent business. Internal vesting business is classified as new business
where the contracts include an open market option. New Department of Work and
Pensions rebate business for SAIF is excluded from the new business schedules.
This is because SAIF is solely for the benefit of SAIF policyholders.
Investment products referred to in the tables for funds under management are
unit trusts, mutual funds and similar types of retail fund management
arrangements. These are unrelated to insurance products that are classified as
investment contracts under IFRS 4, as described in the preceding paragraph,
although similar IFRS recognition and measurement principles apply to the
acquisition costs and fees attaching to this type of business.
The premiums for the first nine months of 2006 for wholesale annuities for UK
Insurance operations include £592m for a bulk annuity transaction with the
Scottish Amicable Insurance Fund (SAIF). SAIF is a closed-ring fenced sub-fund
established by a Court approved Scheme of Arrangement in October 1997, which is
solely for the benefit of SAIF policyholders. Shareholders have no interest in
the profits of this fund, although they are entitled to investment management
fees on this business.
From 12 August 2007 the shareholding in CITIC-Prudential funds operation in
China has increased from 33% to 49%
Notes to Schedules 1A - 8
(1a) Insurance and investment new business for overseas operations has been
calculated using constant exchange rates. The applicable rate for Jackson is
1.99.
(1b) Insurance and investment new business for overseas operations has been
calculated using average exchange rates. The applicable rate for Jackson is
1.99 (2006: 1.82).
(2) Represents cash received from sale of investment products.
(3) Annual Equivalents, calculated as regular new business contributions plus 10
per cent single new business contributions, are subject to roundings. PVNBPs are
calculated as equalling single premiums plus the present value of expected
premiums of new regular premium business. In determining the present value,
allowance is made for lapses and other assumptions applied in determining the
EEV new business profit.
(4) In Asia, 'Other' insurance operations include Thailand, the Philippines and
Vietnam.
(5) Balance includes segregated and pooled pension funds, private finance assets
and other institutional clients. Other movements reflect the net flows arising
from the cash component of a tactical asset allocation fund managed by PPM South
Africa.
(6) New business in India is included at Prudential's 26 per cent interest in
the India life operation. Mandatory Provident Fund (MPF) product sales in Hong
Kong are included at Prudential's 36 per cent interest in Hong Kong MPF
operation.
(7) Balance sheet figures have been calculated at the closing exchange rate. The
2006 balance is shown on a constant exchange rate.
(8) Sales are converted using the year to date average exchange rate applicable
at the time. The sterling results for individual quarters represent the
difference between the year to date reported sterling results at successive
quarters and will include foreign exchange movements from earlier periods.
(9) £339m of FUM and £16m of net flows reported under Prudential Asian funds
operations relate to M&G's products distributed through those Asian operations
and this amount is also included in M&G's FUM.
This information is provided by RNS
The company news service from the London Stock Exchange