Financial Performance - Prudential plc reported an adjusted operating profit of £4.827 billion for 2018, an increase of 3% from £4.699 billion in 2017[4]. - The company achieved a related free surplus of £4.047 billion, reflecting an 11% increase compared to £3.640 billion in the previous year[4]. - New business profit in life insurance reached £3.877 billion, marking a 7% growth from £3.616 billion in 2017[4]. - The IFRS profit after tax rose significantly by 26% to £3.013 billion, up from £2.390 billion in 2017[4]. - The net cash remittances from business units totaled £1.732 billion, a slight decrease of 3% from £1.788 billion in the prior year[4]. - Shareholder equity under IFRS increased to £17.2 billion, representing a 7% growth from £16.1 billion in 2017[4]. - The European embedded value shareholder equity reached £49.8 billion, an 11% increase from £44.7 billion in the previous year[4]. - The group solvency II capital surplus was reported at £17.2 billion, a substantial increase of 29% from £13.3 billion in 2017[4]. - The group reported a 6% increase in operating profit to £4.827 billion, reflecting a 3% increase when adjusted for actual exchange rates[16]. - The group achieved a net increase of £1.2 billion in qualifying debt during the period[132]. - The total cash remittance from M&G Prudential was £654 million, a 2% increase from the previous year[160]. - The company reported a £2.480 billion insurance profit margin, up from £2.302 billion the previous year, showing improved profitability[139]. - The total liabilities for the with-profits policyholders increased to £161.136 billion, reflecting strong performance in the Asian market[137]. Business Strategy and Separation - Prudential plc is making progress in the planned separation of M&G Prudential from Prudential plc, aiming to enhance value for stakeholders[8]. - The company plans to separate M&GPrudential into two independent listed companies, allowing for better capital deployment and meeting evolving customer needs[16]. - The board is focused on ensuring a smooth transition during the M&GPrudential separation and has appointed Mike Evans as chairman of M&GPrudential[9]. - Prudential announced plans to spin off its UK and European business, M&G Prudential, to create two independent listed companies with distinct investment characteristics and opportunities[30]. - The group announced plans to split its UK and European businesses, with a reinsurance of a £12 billion annuity portfolio expected to be completed by June 30, 2019[178]. - Prudential's acquisition of John Hancock Life Insurance Company's group annuity business involved approximately 200,000 in-force certificates representing reserves of about $5.5 billion under International Financial Reporting Standards[183]. - The company aims to modernize its operations through mergers and transformation plans to become a simpler, cost-effective, and digital organization[114]. - The group expects to increase its overall debt by £7.6 billion as part of the restructuring before the split, which includes £6.4 billion of core structural borrowings[178]. Market Opportunities and Growth - The Asian business continues to lead performance, with over 85% of operating income derived from insurance, fees, and dividends[16]. - The U.S. population aged 65 and older is projected to grow from 55 million in 2020 to 72 million by 2030, presenting significant market opportunities[16]. - Prudential is expanding its presence in Africa, which has one of the lowest insurance penetration rates globally, currently operating in five markets[16]. - By 2030, the middle-class population in Asia is expected to double to 3.5 billion, indicating significant market potential[21]. - The insurance penetration rate in Asia is only 2.7% of GDP, compared to 7.2% in the UK, highlighting a substantial insurance gap estimated at $40 trillion for life coverage and $1.8 trillion for health coverage[21]. - The estimated health protection gap in Asia reached $1.8 trillion in 2017, highlighting significant market opportunities[69]. - Prudential's strategy includes expanding its distribution capabilities and enhancing digital tools to capture market opportunities[40]. - Prudential's overall strategy focuses on expanding its customer base and market penetration across Asia, leveraging its diverse talent pool and operational capabilities[87]. Digital Innovation and Customer Engagement - The company is developing innovative digital solutions in Asia and has launched a new retirement product portfolio in the United States[9]. - Prudential continues to enhance its digital tools to improve the efficiency of over 4,900 financial advisors in Singapore[18]. - The implementation of digital tools has led to a nearly 40% submission rate for electronic claims across six businesses[84]. - The introduction of PRUconnect in Thailand, a digital customer service platform, aims to enhance customer engagement with over 44 million active LINE users[79]. - Prudential's collaboration with Tata Consultancy Services aims to improve services for savings and retirement customers in the UK and Europe[24]. - The company is actively investing in digital technology to enhance customer service efficiency[16]. - An exclusive partnership was established with Babylon Health to provide AI-driven digital health services across 12 markets in Asia[67]. Social Responsibility and Community Engagement - The company has invested over £27 million in community projects, including the Cha-Ching financial education platform, which has reached over 2.6 million students since its launch[13]. - Over 9,000 global employees participated in the chairman's community service program, contributing more than 49,000 hours to various projects[13]. - The board is committed to maintaining positive social and economic impacts, as outlined in the corporate responsibility review[9]. - Prudential is focused on diversity and inclusion as a strategic priority, recognizing the importance of varied experiences and perspectives[11]. Risk Management and Regulatory Compliance - The group has established a mature and integrated risk framework to manage the complexities involved in the ongoing merger and split activities[182]. - Prudential's risk management approach is integrated into its business strategy, ensuring alignment with economic and political changes in operating regions[191]. - The group continues to monitor developments at both national and global levels, collaborating with government policy teams and regulators to ensure compliance[182]. - The implementation of the General Data Protection Regulation (GDPR) in May 2018 further strengthened individual rights regarding personal data usage by companies[183]. - Prudential is actively engaging with national governments and regulatory bodies to address regulatory risks, including foreign ownership[186]. Shareholder Returns and Dividends - The board decided to increase the full-year ordinary dividend by 5% to 49.35 pence per share, reflecting confidence in future business prospects[132]. - The company aims to achieve a 5% annual increase in ordinary dividends, maintaining its dividend policy while considering financial flexibility and investment opportunities[179]. - Prudential's earnings per share (EPS) increased to 1,920 pence in 2018 from 1,728 pence in 2017, reflecting a growth of approximately 11%[178].
保诚(02378) - 2018 - 年度财报