Prudential sets new growth targets for Asia
LONDON Dec 10 (Reuters) - British based life group Prudential plc has set new growth objectives driven by its Asian business, targeting at least 10 billion pounds of cumulative underlying free surplus generation by the end of 2017.
In a statement ahead of presentations to investors in London on Tuesday, Prudential said it expects 15 percent annual pre tax IFRS operating profit growth up to 2017 in its Asian life and asset management business.
The group said it is aiming for underlying free surplus generation in Asia of 0.9 billion pounds to 1.1 billion pounds in 2017, compared with 484 million pounds in 2012.
"Our exposure to fast-growing sweet-spot markets, increasing demand for savings and protection products from a rapidly emerging and increasingly wealthy middle class, and our track record of execution underpin our two new 2017 objectives in Asia," Group Chief Executive Tidjane Thiam said.
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