SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of January, 2008
PRUDENTIAL PUBLIC LIMITED COMPANY
(Translation of registrant's name into English)
LAURENCE POUNTNEY HILL,
LONDON, EC4R 0HH, ENGLAND
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.
Form 20-F X Form 40-F
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b): 82-
Enclosures: Prudential plc Q4 NBF
Embargo: 07.00am Tuesday 29 January 2008
PRUDENTIAL PLC FULL YEAR 2007 NEW BUSINESS RESULTS
All figures in the table below are for the 12 months to 31 December 2007, with
comparisons to 2006 at constant exchange rates.
APE Growth
Total Group Insurance GBP2,874 million 21%
Total Group Retail Insurance GBP2,598 million 25%
Asia GBP1,306 million 44%
US GBP671 million 19%
UK Retail GBP715 million 4%
UK Total GBP897 million 0%
Asia Fund Management Net inflows of GBP3 billion up 23%
M&G Net inflows of GBP5 billion down 19%
Mark Tucker, Group Chief Executive said:
"2007 has been another very strong year for the Group. These extremely positive
new business results demonstrate continued growth across Prudential. The
combination of our geographic diversification, world class product innovation,
strength in distribution and the power of our brands continues to deliver
excellent broad based growth.
"These results demonstrate the fundamental attractiveness of Asia as the fastest
growing region of the world's life assurance markets and Prudential's proven
ability to capture a material and growing share of the market.
"As we look ahead into 2008 the general economic outlook is uncertain and it
remains to be seen how far this will impact upon the appetite to save. In the US
and the UK our primary focus is on the retirement market, where demand is less
sensitive to a general economic downturn than in other sectors. We therefore
expect to see further profitable growth in both these markets, and to maintain
our long term sector out-performance in the US. In Asia, the fundamentals
underpinning economic growth remain powerful and our businesses are very well
placed to benefit, although we do not currently expect growth in 2008 to reach
the very high levels achieved in 2007. The outlook for the Group therefore
remains positive."
Highlights
- Prudential Corporation Asia sales were up 44 per cent, with
particularly impressive performance in India and Indonesia, two of the region's
largest markets.
- Jackson, the Group's US insurance business, recorded new business
growth of 19 per cent.
- Prudential UK continued its solid performance based on delivering value
in the retirement market where it can generate attractive returns. In the fourth
quarter, it completed the transfer of Equitable Life's portfolio of in-force
with-profits annuities the largest transfer of its kind in the UK.
- In asset management, Asian net fund inflows of GBP3 billion were up 23
per cent. M&G experienced net inflows of GBP5 billion which, while 19 per cent
lower than 2006, still represent the second highest year on record in very
challenging markets.
Commentary on Full Year 2007 New Business Results
Asia insurance operations
Prudential Corporation Asia 2007 APE sales were GBP1,306 million, up 44 per cent
compared to 2006. Prudential's Asian insurance operations' fourth quarter new
business of GBP367 million saw growth of 35 per cent over a strong fourth
quarter in 2006. On the PVNBP basis, 2007 sales were GBP7.0 billion, 44 per cent
higher than 2006.
The strong growth reflects success in implementing our core regional priorities:
- Expanding the scale and increasing the productivity of our agency
operations across the region.
- Further enhancement of partnership distribution.
- Introduction and roll out of healthcare products.
- Development of a holistic approach to promotion of retirement savings.
Prudential's success continues to be driven by the unique combination of a
powerful regional brand, multi-channel distribution, the strength and depth of
the local experience of our regional management team and our ability to deploy
technical and product expertise from around the Group into Asia.
Prudential's product portfolio in Asia continues to reflect its success in
developing an increasingly broad range of unit-linked products that provide
customers with the flexibility to match the investment funds with their life
stage needs and risk appetites. In 2007, the proportion of unit-linked business
in terms of APE increased to 71 per cent from 65 per cent in 2006.
The proportion of regular premium business sold remains high at 86 per cent, on
an APE basis, reflecting the long term commitment of customers to their
Prudential products. Non tied agency distribution continues to generate 30 per
cent of Prudential's APE premiums.
During 2007, Prudential has continued to expand and strengthen its distribution
capabilities. Excluding India, average agent numbers were up 10 per cent to
112,000 and, significantly, average agent productivity, in terms of APE per
agent, was up 31 per cent.
In India, the ICICI-Prudential Life joint venture has seen continuing
significant investment in the rapid expansion of the agency force across the
country with average agent numbers increasing to 238,000, up 123 per cent. This
has driven an increase in 2007 APE of 67 per cent which equates to GBP180
million for Prudential's 26 per cent stake in the joint venture. India's fourth
quarter sales of GBP54 million showed an increase of 78 per cent over 2006.
Prudential is rapidly establishing itself as a leader in the retirement savings
space with its highly appealing 'What's your number?' campaign that has now been
launched in six markets. As previously reported, the launch was particularly
successful in Taiwan where, when combined with a new retirement orientated
variable annuity product and sales incentives in the second quarter, it
invigorated the operation and was a major contributor to the 71 per cent growth
in APE to GBP231 million recorded during the year. Fourth quarter sales of GBP39
million represented an increase of 15 per cent over 2006.
Indonesia was a significant contributor to Prudential's APE growth during 2007
at GBP121 million up 75 per cent on 2006. Prudential continues to leverage its
market leading position to expand the Indonesian agency force with the agency
activity rate increasing by 34 per cent and the average agent productivity up 30
per cent. Fourth quarter sales of GBP43 million is a doubling of APE compared
with 2006 and included the Takaful product launch in September 2007.
In Korea, 2007 APE of GBP259 million was up 25 per cent on 2006, significantly
ahead of the market growth. As previously reported the caps on bank
distribution restrict growth in the bancassurance channel, but this has been
offset to some extent by the addition of Industrial Bank of Korea as a partner
in April 2007. Fourth quarter sales of GBP67 million were up 27 per cent
compared to 2006 aided by the launch of a new retirement campaign, a new
universal life product and a variable annuity product.
Hong Kong's 2007 APE of GBP167 million was up 30 per cent on 2006, reaffirming
its position as a successful multi-channel distributor in a competitive market
with both agency and bank distribution growing strongly. The retirement campaign
launched in the first quarter showed good momentum throughout 2007. Fourth
quarter sales of GBP53 million were up 17 per cent compared to 2006.
In Singapore, 2007 APE of GBP126 million was up 20 per cent on 2006, with the
main driver of growth being the agency channel. The emphasis in this market is
on agent productivity where Prudential delivered an increase of 21 per cent.
Fourth quarter sales of GBP38 million were up 14 per cent compared to 2006.
Singapore also launched a very successful new health product in August 2007,
PruShield, with 63,000 policies issued, by 31 December 2007.
In China, 2007 APE sales of GBP47 million were up 24 per cent on 2006. Fourth
quarter sales have been incorporated in Group results at 50 per cent of APE to
reflect the change in the right to appoint the CEO in accordance with the
original agreement with CITIC. Fourth quarter sales of GBP9 million were up 19
per cent on a comparable basis.
Prudential's other Asian operations all remain well placed and delivered good
growth. Malaysia's 2007 APE of GBP82 million was up 15 per cent compared to 2006
and still exceeded the market rate of growth. Encouragingly, Vietnam returned to
growth with 2007 APE of GBP24 million up 44 per cent compared with 2006 after
the recent post liberalisation market slowdown. After a change in regulations
and receiving the final regulatory approvals, Prudential launched unit-linked
products in Vietnam on 19 January 2008. Japan's new business APE of
GBP34 million for 2007 is up 183 per cent compared to 2006 driven mainly by Term
Life products where the tax benefits are expected to be withdrawn in the first
quarter 2008.
US insurance operations
Jackson, Prudential's US insurance business, delivered APE sales of GBP671
million in 2007, representing a 19 per cent increase on 2006. This was primarily
driven by continued growth in sales of variable annuities. APE sales in the
fourth quarter of 2007 were GBP160 million, up 15 per cent over the same period
in 2006. On a PVNBP basis, new business sales for 2007 were GBP6.7 billion.
Jackson delivered record variable annuity APE sales of GBP455 million in 2007,
up 29 per cent on 2006. Variable annuity APE sales for the fourth quarter of
2007 were GBP114 million, up 20 per cent over the same period in 2006. At the
end of September 2007, Jackson had increased its variable annuity market share
to 5.1 per cent, up from 4.6 per cent for full year 2006, and maintained its
ranking of 12th in gross variable annuity sales (Source: Morningstar Annuity
Research Centre). Jackson also ranked second in variable annuity net flows in
both the second and third quarters of 2007 (Source: Morningstar Annuity Research
Centre). This significant growth in variable annuity sales was driven by
Jackson's distinct competitive advantages of an innovative product offering, a
relationship-driven distribution model and award winning customer service.
Throughout 2007 Jackson maintained its track record for product innovation by
enhancing its variable annuity offering. Specifically, in December Jackson
launched a new guaranteed minimum withdrawal benefit (GMWB), a new guaranteed
minimum income benefit (GMIB) and five new portfolio investment options.
Fixed annuity APE sales of GBP57 million were 10 per cent down on 2006. APE
sales in the fourth quarter of 2007 were GBP15 million, six per cent down on
2006. Industry sales of traditional fixed annuities were 20 per cent lower for
the first nine months of 2007 compared to the same period of 2006 (Source:
LIMRA). Entry spreads for fixed annuities continued to be challenging in the
second half of 2007 as the interest rate environment limited the crediting rates
that could be offered on the products.
Fixed index annuity sales continued to be affected by the uncertain regulatory
environment in the US, and industry sales were three per cent lower in the first
nine months of 2007 compared to the same period last year. Jackson's APE sales
of GBP45 million were 12 per cent down on 2006. APE sales in the fourth quarter
of 2007 were GBP10 million, six per cent down on 2006. In the third quarter of
2007, Jackson ranked first in fixed index annuity sales through banks for the
ninth consecutive quarter (Source: The Kehrer-LIMRA Report). Jackson continues
to pursue profitable growth and hence has been unwilling to compromise target
margins in this market.
Institutional APE sales of GBP94 million were up 15 per cent on 2006. Jackson
continues to participate in this market on an opportunistic basis where margins
are attractive.
Curian Capital, a specialised asset management company that provides innovative
fee-based separately managed accounts, continues to build its position in the US
retail asset management market with total assets under management at the end of
December 2007 of GBP1.7 billion, up from GBP1.2 billion at the end of December
2006. Curian generated record deposits in 2007 of GBP663 million, up 57 per cent
on 2006.
UK insurance operations
In 2007, Prudential UK continued its strategy of selectively competing in those
areas of the retirement savings and income market where it can generate
attractive returns. In a market where pricing has become increasingly
competitive, retail APE sales of GBP715 million were up four per cent on 2006,
driven principally by strong performances in individual annuities, corporate
pensions, with-profit bonds and lifetime mortgages.
Total APE sales for the year of GBP897 million were in line with those achieved
in 2006, however the 2006 figure included GBP63 million of wholesale credit life
sales under a contract that was not renewed in 2007. Total sales on a PVNBP
basis were in line with 2006 at GBP7.6 billion.
APE sales in the fourth quarter of GBP368 million were 55 per cent higher than
the same period of 2006 and included the completion on 31 December 2007 of the
transfer of Equitable Life's portfolio of in-force with-profit annuities.
Individual annuity sales for the year of GBP283 million were up four per cent on
2006, with growth driven by the continued strength of the UK's internal vesting
pipeline and increasing sales emerging through its partnership arrangements. The
market for annuity sales through intermediaries became more competitive in the
fourth quarter, with sales 26 per cent below the same period last year as
Prudential focused on maintaining margins rather than pursuing volume.
Given increasing longevity in the UK, the effects of inflation are becoming more
important for consumers. Prudential remains the market leader in the growing
with-profits annuity market with sales of GBP48 million in 2007, up 30 per cent
on the previous year. An income drawdown product was launched in the fourth
quarter of 2007, adding to Prudential's range of retirement solutions and
providing customers with additional options to manage their retirement income.
Prudential now has approximately 1.5 million annuities in payment.
Corporate pensions sales increased 10 per cent year-on-year to GBP247 million.
This strong growth was due to a combination of new schemes, increasing scheme
membership and incremental contributions to existing schemes.
Prudential UK's total retail with-profits business performed very strongly
across a range of products with total sales of GBP231 million up 21 per cent on
2006. With-profits bond sales of GBP41 million were up 59 per cent year-on-year,
including an 89 per cent increase in sales during the fourth quarter of 2007
compared with 2006. Sales of PruFund were particularly strong during 2007 at APE
GBP19 million on the back of investment out-performance. Prudential's
with-profits products offer a medium to long-term, medium risk investment with
exposure to a diverse range of assets that is particularly important to many
customers against the backdrop of market uncertainty.
In 2007, Prudential's lifetime mortgage business again increased its share of
the lifetime mortgage market and benefited from its distinctive drawdown product
and strong brand. Sales grew sharply during the year with mortgage advances in
2007 of GBP156 million up 75 per cent on 2006, including increased draw-downs
from our growing number of existing customers.
Sales of PruHealth are not included in the total APE sale numbers. During 2007,
PruHealth continued to grow strongly with gross written premiums of
GBP64 million up 80 per cent on 2006. This business now covers 142,000 lives,
reflecting an emphasis on individual and SME business, success in introducing
new distribution deals, a focus on high quality corporate schemes and a strong
renewal rate among individual customers.
In the Wholesale bulk annuity and insurer back-book market, Prudential UK
achieved a 26 per cent year-on-year increase with sales in 2007 of GBP180
million. In the fourth quarter, it completed the transfer of Equitable Life's
portfolio of in-force with-profits annuities the largest transfer of its kind in
the UK in 2007. The transfer represented APE new business premium of GBP174
million with approximately 62,000 new policies. In the previous year Prudential
completed two back-book insurer deals with a total volume of GBP143 million.
Prevailing pricing levels for bulk annuities were insufficient to meet
Prudential's return on capital requirements, based on its view of future
longevity improvements, and Prudential UK chose not to write business at those
un-economic levels in 2007.
Asset Management
M&G
Strong investment performance led to M&G delivering gross fund inflows of
GBP14.7 billion during 2007, an increase of nine per cent on the previous year,
reflecting M&G's leading positions in retail funds management, institutional
fixed income, pooled life and pension funds, property and private finance. Net
fund inflows of GBP5.0 billion, while 19 per cent down on last year, were the
second highest on record.
M&G saw significant strong growth in its external funds under management,
reaching GBP51.2 billion at the end of 2007, an increase of 14 per cent during
the year. M&G's external funds under management have more than doubled over the
past five years as M&G has continued to diversify its business across retail and
wholesale markets, both in the UK and internationally.
M&G's retail business performed well in 2007, with gross fund inflows up 29 per
cent to GBP8.7 billion compared to the previous year. Net fund inflows of GBP2.7
billion were down 12 per cent relative to 2006, but represent a solid result in
light of the more challenging sales environment that was seen in the second half
of 2007. Fourth quarter retail net inflows remained healthy at GBP0.3 billion
against this backdrop. While increased volatility and uncertainty in markets
have had an effect on retail investor confidence, M&G remains well positioned in
its retail markets with outstanding fund performance, a strong brand and an
excellent UK and international distribution network.
Gross fund inflows into M&G's wholesale businesses, were GBP6.1 billion in 2007,
a decrease of 10 per cent on last year. Net fund inflows of GBP2.2 billion
were down 25 per cent compared to 2006, in the main due to reorganisation of
mandates in the third quarter by some large segregated fixed income
clients. Higher margin product lines, such as infrastructure finance,
leveraged loans, collateralised debt obligations (CDOs) and M&G Absolute
Return Business, grew strongly in 2007 with gross fund inflows up 30 per cent
and net inflows up 38 per cent during the year. These higher margin wholesale
business lines boosted fourth quarter net inflows to over GBP1 billion,
producing a more profitable sales mix for M&G's third party business.
Asian Fund Management Business
The Asian Fund Management business has continued to perform well in 2007 with
net flows of GBP3 billion, up 23 per cent compared to 2006. This is primarily
driven by strong performance in India, Japan and Taiwan. Of the GBP3 billion in
net flows, 69 per cent were in longer-term equity and fixed income products with
31 per cent in shorter-term money market funds. Although down from 2006, the
fourth quarter of 2007 has been encouraging with net flows of GBP587 million.
Total third party funds under management were GBP17.4 billion, up 39 per cent on
31 December 2006. India, Taiwan and Japan were the main contributors to this
growth with funds under management increasing by 65 per cent, 49 per cent and 46
per cent respectively.
Growth of funds under management continued to be driven by innovative products
launched in different countries across the region. In Japan, the growth in funds
under management (net flows of GBP1.2 billion) was due to the PCA Growing Asia
Equity Open, India Infrastructure Equity and Asia Oceania Equity funds. Taiwan's
growth was driven by the successful launch of the Asian Infrastructure Fund in
May that raised GBP230 million, its regulatory cap, as well as a discretionary
mandate from The Public Service Pension Fund and institutional clients that
contributed GBP100 million supported by positive market movements. This resulted
in our domestic mutual funds market ranking rising to fourth as of 30 November
2007 compared with a ranking of 10th a year previously.
Asia Fund Management launched a retail mutual fund business in Hong Kong in
October 2007. Since launch, six distribution relationships have been signed,
including banks, financial advisers and an online portal. Sixteen International
Opportunities Funds have been approved by the Hong Kong regulator.
The United Arab Emirates operation also made good progress, with 13 distribution
agreements signed since its launch a year ago and with funds under management of
GBP397 million.
In Singapore, Asia Fund Management's Dragon Peacock Fund is now the largest
equity fund in Singapore with funds under management of GBP500 million. As a
result, our Singapore retail unit trust business has risen to number three
market ranking, making us the largest foreign player in Singapore.
Korea saw net outflows of GBP379 million, GBP123 million of which was from short
term MMF funds. The remaining outflow of GBP256 million in 2007 was partly as a
result of a number of our derivatives funds terminating early as the targeted
rate of return had been achieved.
On 12 August 2007, Prudential increased its stake in CITIC Prudential Fund
Management, its joint venture with CITIC Group in China from 33 per cent to 49
per cent, following approval from the regulators. Prudential and CITIC remain
primary shareholders, each with 49 per cent share with the balance of two per
cent being held by China-Singapore Suzhou Industrial Park Venture Company.
Enquiries:
Media Investors/Analysts
Jon Bunn 020 7548 3559 James Matthews 020 7548 3561
William Baldwin-Charles 020 7548 3719 Jessica Stalley 020 7548 3511
Notes to Editor:
1. Annual premium equivalent (APE) sales comprise regular premium sales
plus one-tenth of single premium insurance sales and are subject to rounding.
2. Present Value of New Business Premiums (PVNBP) are calculated as
equalling single premiums plus the present value of expected new business
premiums of regular premium business, allowing for lapses and other assumptions
made in determining the EEV new business contribution.
3. UK Retail sales include all products except bulk annuities and credit
life sales.
4. There will be a conference call today for wire services at 07.30am (GMT)
hosted by Mark Tucker, Group Chief Executive, and Philip Broadley, Group Finance
Director. Dial in telephone number: +44 (0)20 8609 0793. Passcode: 155439#
5. There will be a conference call for investors and analysts at 09:30am
(GMT) hosted by Mark Tucker, Group Chief Executive, and Philip Broadley, Group
Finance Director. From the UK please call +44 (0)20 8609 0793 and from the US
1866 793 4279. Pin number 487687#. A recording of this call will be available
for replay for one week by dialling: +44 (0)20 8609 0289 from the UK or 1 866
676 5865 from the US. The conference reference number is 200642#.
6. High resolution photographs are available to the media free of charge at
www.newscast.co.uk (+44 (0) 207 608 1000).
7. Sales for overseas operations have been reported using average exchange
rates as shown in the attached schedules. Commentary is given on the results on
a constant exchange rate basis. The two bases are compared in the table below.
Annual Premium Equivalent Sales
Actual Exchange Rates Constant Exchange Rates
2007 Q4 2006 Q4 +/- (%) 2007 Q4 2006 Q4 +/- (%)
YTD YTD YTD YTD
GBPm GBPm GBPm GBPm
UK 897 900 (0%) 897 900 (0%)
US 671 613 9% 671 565 19%
Asia 1,306 956 37% 1,306 909 44%
______ ______ ______ ______ ______ ______
Total 2,874 2,470 16% 2,874 2,374 21%
Gross Inflows
Actual Exchange Rates Constant Exchange Rates
2007 Q4 2006 Q4 +/- (%) 2007 Q4 2006 Q4 +/- (%)
YTD YTD YTD YTD
GBPm GBPm GBPm GBPm
M&G 14,745 13,486 9% 14,745 13,486 9%
US 60 - - 60 - -
Asia 38,954 20,408 91% 38,954 19,816 97%
______ ______ ______ ______ ______ ______
Total 53,759 33,894 59% 53,759 33,302 61%
Total Insurance and Investment New Business
Actual Exchange Rates Constant Exchange Rates
2007 Q4 2006 Q4 +/- (%) 2007 Q4 2006 Q4 +/- (%)
YTD YTD YTD YTD
GBPm GBPm GBPm GBPm
Insurance 16,344 15,094 8% 16,344 14,515 13%
Investment 53,759 33,894 59% 53,759 33,302 61%
______ ______ ______ ______ ______ ______
Total 70,103 48,988 43% 70,103 47,817 47%
8. For Jackson, market share data is provided for year to September 2007,
being the latest available. Variable annuity data is sourced from Variable
annuity data is sourced from Morningstar Annuity Research Centre, fixed annuity
data is sourced from LIMRA and fixed index annuities data is sourced from LIMRA
and The Kehrer-LIMRA Report.
9. Financial Calendar:
Full Year Results 2007 14 March 2008
First Quarter 2008 New Business Results 17 April 2008
Annual General Meeting 15 May 2008
Interim Results 2008 31 July 2008
Third Quarter 2008 New Business Results 21 October 2008
*Prudential plc, a company incorporated and with its principal place of business
in the United Kingdom, and its affiliated companies constitute one of the
world's leading financial services groups. It provides insurance and financial
services directly and through its subsidiaries and affiliates throughout the
world. It has been in existence for over 150 years and has GBP256 billion in
assets under management, (as at 30 June 2007) Prudential plc is not affiliated
in any manner with Prudential Financial, Inc, a company whose principal place of
business is in the United States of America.
Forward-Looking Statements
This statement may contain certain 'forward-looking statements' with respect to
certain of Prudential's plans and its current goals and expectations relating to
its future financial condition, performance, results, strategy and objectives.
Statements containing the words 'believes', 'intends', 'expects', 'plans',
'seeks' and 'anticipates', and words of similar meaning, are forward-looking.
By their nature, all forward-looking statements involve risk and uncertainty
because they relate to future events and circumstances which are beyond
Prudential's control including among other things, UK domestic and global
economic and business conditions, market related risks such as fluctuations in
interest rates and exchange rates, and the performance of financial markets
generally; the policies and actions of regulatory authorities, the impact of
competition, inflation, and deflation; experience in particular with regard to
mortality and morbidity trends, lapse rates and policy renewal rates; the
timing, impact and other uncertainties of future acquisitions or combinations
within relevant industries; and the impact of changes in capital, solvency or
accounting standards, and tax and other legislation and regulations in the
jurisdictions in which Prudential and its affiliates operate. This may for
example result in changes to assumptions used for determining results of
operations or re-estimations of reserves for future policy benefits. As a
result, Prudential's actual future financial condition, performance and results
may differ materially from the plans, goals, and expectations set forth in
Prudential's forward-looking statements. Prudential undertakes no obligation to
update the forward-looking statements contained in this statement or any other
forward-looking statements it may make.
Schedule 1A - Constant Exchange Rates
PRUDENTIAL PLC - NEW BUSINESS - FULL YEAR 2007
TOTAL INSURANCE AND INVESTMENT NEW BUSINESS
UK US Asia Total
FY 2007 FY 2006 +/-(%) FY 2007 FY 2006 +/-(%) FY 2007 FY 2006 +/-(%) FY 2007 FY 2006 +/-(%)
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
Total Insurance 6,866 7,192 (5%) 6,534 5,507 19% 2,944 1,816 62% 16,344 14,515 13%
Products
Total Investment 14,745 13,486 9% 60 - - 38,954 19,816 97% 53,759 33,302 61%
Products - Gross
Inflows
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
21,611 20,678 5% 6,594 5,507 20% 41,898 21,632 94% 70,103 47,817 47%
INSURANCE OPERATIONS
Single Regular Total Annual Equivalents
FY 2007 FY 2006 +/-(%) FY 2007 FY 2006 +/-(%) FY 2007 FY 2006 +/-(%) FY 2007 FY 2006 +/-(%)
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
UK Insurance
Operations
Product Summary
Internal Vesting 1,399 1,341 4% - - - 1,399 1,341 4% 140 134 4%
annuities
Direct and 842 780 8% - - - 842 780 8% 84 78 8%
Partnership
Annuities
Intermediated 589 592 (1%) - - - 589 592 (1%) 59 59 0%
Annuities
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Individual 2,830 2,713 4% - - - 2,830 2,713 4% 283 271 4%
Annuities
Equity Release 156 89 75% - - - 156 89 75% 16 9 78%
Individual 38 21 81% 1 - - 39 21 86% 5 2 150%
Pensions
Corporate 283 318 (11%) 84 66 27% 367 384 (4%) 112 98 14%
Pensions
Unit Linked Bonds 243 388 (37%) - - - 243 388 (37%) 24 39 (38%)
With-Profit Bonds 297 139 114% - - - 297 139 114% 30 14 114%
Protection - 11 - 5 9 (44%) 5 20 (75%) 5 10 (50%)
Offshore Products 434 540 (20%) 4 - - 438 540 (19%) 47 54 (13%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 4,281 4,219 1% 94 75 25% 4,375 4,294 2% 522 497 5%
Retirement
Corporate 198 261 (24%) 115 100 15% 313 361 (13%) 135 126 7%
Pensions
Other Products 190 232 (18%) 25 26 (4%) 215 258 (17%) 44 49 (10%)
DWP Rebates 143 161 (11%) - - - 143 161 (11%) 14 16 (13%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Mature Life 531 654 (19%) 140 126 11% 671 780 (14%) 193 191 1%
and Pensions
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 4,812 4,873 (1%) 234 201 16% 5,046 5,074 (1%) 715 688 4%
Wholesale 1,799 1,431 26% - - - 1,799 1,431 26% 180 143 26%
Annuities
Credit Life 21 687 (97%) - - - 21 687 (97%) 2 69 (97%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK 6,632 6,991 (5%) 234 201 16% 6,866 7,192 (5%) 897 900 (0%)
Insurance
Operations
Channel Summary
Direct and 2,385 2,543 (6%) 209 174 20% 2,594 2,717 (5%) 448 428 5%
Partnership
Intermediated 2,284 2,169 5% 25 27 (7%) 2,309 2,196 5% 253 244 4%
Wholesale 1,820 2,118 (14%) - - - 1,820 2,118 (14%) 182 212 (14%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total 6,489 6,830 (5%) 234 201 16% 6,723 7,031 (4%) 883 884 (0%)
DWP Rebates 143 161 (11%) - - - 143 161 (11%) 14 16 (13%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK 6,632 6,991 (5%) 234 201 16% 6,866 7,192 (5%) 897 900 (0%)
Insurance
Operations
US Insurance
Operations
Fixed Annuities 573 633 (9%) - - - 573 633 (9%) 57 63 (10%)
Fixed Index 446 510 (13%) - - - 446 510 (13%) 45 51 (12%)
Annuities
Variable 4,554 3,517 29% - - - 4,554 3,517 29% 455 352 29%
Annuities
Life 7 7 0% 19 16 19% 26 23 13% 20 17 18%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total Retail 5,580 4,667 20% 19 16 19% 5,599 4,683 20% 577 483 19%
Guaranteed 408 422 (3%) - - - 408 422 (3%) 41 42 (2%)
Investment
Contracts
GIC - Medium Term 527 402 31% - - - 527 402 31% 53 40 33%
Note
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total US 6,515 5,491 19% 19 16 19% 6,534 5,507 19% 671 565 19%
Insurance
Operations
Asian Insurance
Operations
China 72 26 177% 40 35 14% 112 61 84% 47 38 24%
Hong Kong 501 325 54% 117 95 23% 618 420 47% 167 128 30%
India 26 20 30% 177 106 67% 203 126 61% 180 108 67%
Indonesia 118 28 321% 109 66 65% 227 94 141% 121 69 75%
Japan 122 62 97% 22 6 267% 144 68 112% 34 12 183%
Korea 179 97 85% 241 197 22% 420 294 43% 259 207 25%
Malaysia 41 4 925% 78 71 10% 119 75 59% 82 71 15%
Singapore 593 347 71% 67 70 (4%) 660 417 58% 126 105 20%
Taiwan 132 84 57% 218 127 72% 350 211 66% 231 135 71%
Other 36 15 140% 55 35 57% 91 50 82% 59 37 59%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Asian 1,820 1,008 81% 1,124 808 39% 2,944 1,816 62% 1,306 909 44%
Insurance
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Group Total 14,967 13,490 11% 1,377 1,025 34% 16,344 14,515 13% 2,874 2,374 21%
Schedule 1B - Actual Exchange Rates
PRUDENTIAL PLC - NEW BUSINESS - FULL YEAR 2007
TOTAL INSURANCE AND INVESTMENT NEW BUSINESS
UK US Asia Total
FY 2007 FY 2006 +/-(%) FY 2007 FY 2006 +/-(%) FY 2007 FY 2006 +/-(%) FY 2007 FY +/-(%)
2006
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
Total Insurance 6,866 7,192 (5%) 6,534 5,981 9% 2,944 1,921 53% 16,344 15,094 8%
Products
Total Investment 14,745 13,486 9% 60 - - 38,954 20,408 91% 53,759 33,894 59%
Products - Gross
Inflows
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
21,611 20,678 5% 6,594 5,981 10% 41,898 22,329 88% 70,103 48,988 43%
INSURANCE OPERATIONS
Single Regular Total Annual Equivalents
FY 2007 FY 2006 +/-(%) FY 2007 FY 2006 +/-(%) FY 2007 FY 2006 +/-(%) FY 2007 FY 2006 +/-(%)
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
UK Insurance
Operations
Product Summary
Internal Vesting 1,399 1,341 4% - - - 1,399 1,341 4% 140 134 4%
annuities
Direct and Partnership 842 780 8% - - - 842 780 8% 84 78 8%
Annuities
Intermediated 589 592 (1%) - - - 589 592 (1%) 59 59 0%
Annuities
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Individual 2,830 2,713 4% - - - 2,830 2,713 4% 283 271 4%
Annuities
Equity Release 156 89 75% - - - 156 89 75% 16 9 78%
Individual Pensions 38 21 81% 1 - - 39 21 86% 5 2 150%
Corporate Pensions 283 318 (11%) 84 66 27% 367 384 (4%) 112 98 14%
Unit Linked Bonds 243 388 (37%) - - - 243 388 (37%) 24 39 (38%)
With-Profit Bonds 297 139 114% - - - 297 139 114% 30 14 114%
Protection - 11 - 5 9 (44%) 5 20 (75%) 5 10 (50%)
Offshore Products 434 540 (20%) 4 - - 438 540 (19%) 47 54 (13%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 4,281 4,219 1% 94 75 25% 4,375 4,294 2% 522 497 5%
Retirement
Corporate Pensions 198 261 (24%) 115 100 15% 313 361 (13%) 135 126 7%
Other Products 190 232 (18%) 25 26 (4%) 215 258 (17%) 44 49 (10%)
DWP Rebates 143 161 (11%) - - - 143 161 (11%) 14 16 (13%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Mature Life and 531 654 (19%) 140 126 11% 671 780 (14%) 193 191 1%
Pensions
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 4,812 4,873 (1%) 234 201 16% 5,046 5,074 (1%) 715 688 4%
Wholesale Annuities 1,799 1,431 26% - - - 1,799 1,431 26% 180 143 26%
Credit Life 21 687 (97%) - - - 21 687 (97%) 2 69 (97%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 6,632 6,991 (5%) 234 201 16% 6,866 7,192 (5%) 897 900 (0%)
Operations
Channel Summary
Direct and Partnership 2,385 2,543 (6%) 209 174 20% 2,594 2,717 (5%) 448 428 5%
Intermediated 2,284 2,169 5% 25 27 (7%) 2,309 2,196 5% 253 244 4%
Wholesale 1,820 2,118 (14%) - - - 1,820 2,118 (14%) 182 212 (14%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total 6,489 6,830 (5%) 234 201 16% 6,723 7,031 (4%) 883 884 (0%)
DWP Rebates 143 161 (11%) - - - 143 161 (11%) 14 16 (13%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 6,632 6,991 (5%) 234 201 16% 6,866 7,192 (5%) 897 900 (0%)
Operations
US Insurance
Operations
Fixed Annuities 573 688 (17%) - - - 573 688 (17%) 57 69 (17%)
Fixed Index Annuities 446 554 (19%) - - - 446 554 (19%) 45 55 (18%)
Variable Annuities 4,554 3,819 19% - - - 4,554 3,819 19% 455 382 19%
Life 7 8 (13%) 19 17 12% 26 25 4% 20 18 11%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total Retail 5,580 5,069 10% 19 17 12% 5,599 5,086 10% 577 524 10%
Guaranteed Investment 408 458 (11%) - - - 408 458 (11%) 41 46 (11%)
Contracts
GIC - Medium Term Note 527 437 21% - - - 527 437 21% 53 44 20%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total US Insurance 6,515 5,964 9% 19 17 12% 6,534 5,981 9% 671 613 9%
Operations
Asian Insurance
Operations
China 72 27 167% 40 36 11% 112 63 78% 47 39 21%
Hong Kong 501 355 41% 117 103 14% 618 458 35% 167 139 20%
India 26 20 30% 177 105 69% 203 125 62% 180 107 68%
Indonesia 118 31 281% 109 71 54% 227 102 123% 121 74 64%
Japan 122 68 79% 22 7 214% 144 75 92% 34 14 143%
Korea 179 103 74% 241 208 16% 420 311 35% 259 218 19%
Malaysia 41 4 925% 78 72 8% 119 76 57% 82 72 14%
Singapore 593 357 66% 67 72 (7%) 660 429 54% 126 108 17%
Taiwan 132 92 43% 218 139 57% 350 231 52% 231 148 56%
Other 36 15 140% 55 36 53% 91 51 78% 59 38 55%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Asian Insurance 1,820 1,072 70% 1,124 849 32% 2,944 1,921 53% 1,306 956 37%
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Group Total 14,967 14,027 7% 1,377 1,067 29% 16,344 15,094 8% 2,874 2,470 16%
Schedule 2 - Actual Exchange Rates
PRUDENTIAL PLC - NEW BUSINESS - FULL YEAR 2007
INVESTMENT OPERATIONS
Market & Net
Opening Other Currency Movement Closing
FUM Gross Redemptions Net Movements Movements In FUM FUM
Inflows Inflows
2007 GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
M&G
Retail 19,176 8,690 (5,970) 2,720 - 424 3,144 22,320
Institutional 25,770 6,055 (3,817) 2,238 (246) 1,139 3,131 28,901
______ ______ ______ ______ ______ ______ ______ ______
Total M&G 44,946 14,745 (9,787) 4,958 (246) 1,563 6,275 51,221
Asia
India 1,290 1,158 (1,046) 112 192 631 935 2,225
Taiwan 969 1,876 (1,529) 347 - 160 507 1,476
Korea 2,952 2,288 (2,544) (256) (235) 485 (6) 2,946
Japan 2,816 2,374 (1,198) 1,176 - 321 1,497 4,313
Other Mutual Fund Operations 1,468 2,011 (1,429) 582 54 433 1,069 2,537
______ ______ ______ ______ ______ ______ ______ ______
Total Asian Equity/Bond/Other 9,495 9,707 (7,746) 1,961 11 2,030 4,002 13,497
MMF
India 709 24,175 (23,404) 771 (267) 203 707 1,416
Taiwan 467 2,271 (2,112) 159 - 6 165 632
Korea 609 2,189 (2,312) (123) (21) 15 (129) 480
Other Mutual Fund Operations 133 424 (316) 108 - 11 119 252
______ ______ ______ ______ ______ ______ ______ ______
Total Asian MMF 1,918 29,059 (28,144) 915 (288) 235 862 2,780
______ ______ ______ ______ ______ ______ ______ ______
Total Asia Retail Mutual Funds 11,413 38,766 (35,890) 2,876 (277) 2,265 4,864 16,277
Third Party Institutional 840 188 (103) 85 - 191 276 1,116
Mandates
______ ______ ______ ______ ______ ______ ______ ______
Total Asian Investment 12,253 38,954 (35,993) 2,961 (277) 2,456 5,140 17,393
Operations
US
Retail - 60 (4) 56 - (1) 55 55
______ ______ ______ ______ ______ ______ ______ ______
Total US - 60 (4) 56 - (1) 55 55
______ ______ ______ ______ ______ ______ ______ ______
Total Investment Products 57,199 53,759 (45,784) 7,975 (523) 4,018 11,470 68,669
Market & Net
Opening Other Currency Movement Closing
FUM Gross Redemptions Net Movements Movements In FUM FUM
Inflows Inflows
2006 GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
M&G
Retail 14,627 6,722 (3,619) 3,103 - 1,446 4,549 19,176
Institutional 21,568 6,764 (3,766) 2,998 140 1,064 4,202 25,770
______ ______ ______ ______ ______ ______ ______ ______
Total M&G 36,195 13,486 (7,385) 6,101 140 2,510 8,751 44,946
Asia
India 1,005 982 (680) 302 45 (62) 285 1,290
Taiwan 632 1,185 (866) 319 - 18 337 969
Korea 2,269 2,981 (2,065) 916 (297) 64 683 2,952
Japan 2,695 1,393 (1,026) 367 - (246) 121 2,816
Other Mutual Fund Operations 1,037 1,005 (619) 386 (1) 46 431 1,468
______ ______ ______ ______ ______ ______ ______ ______
Total Asia Equity/Bond/Other 7,638 7,546 (5,256) 2,290 (253) (180) 1,857 9,495
MMF
India 461 8,961 (8,762) 199 (75) 124 248 709
Taiwan 667 1,378 (1,516) (138) - (62) (200) 467
Korea 534 2,221 (2,122) 99 (17) (7) 75 609
Other Mutual Fund Operations 143 182 (179) 3 - (13) (10) 133
______ ______ ______ ______ ______ ______ ______ ______
Total Asian MMF 1,805 12,742 (12,579) 163 (92) 42 113 1,918
______ ______ ______ ______ ______ ______ ______ ______
Total Asia Retail Mutual Funds 9,443 20,288 (17,835) 2,453 (345) (138) 1,970 11,413
Third Party Institutional 691 120 (41) 79 - 70 149 840
Mandates
______ ______ ______ ______ ______ ______ ______ ______
Total Asian Investment 10,134 20,408 (17,876) 2,532 (345) (68) 2,119 12,253
Operations
US
Retail - - - - - - - -
______ ______ ______ ______ ______ ______ ______ ______
Total US - - - - - - - -
______ ______ ______ ______ ______ ______ ______ ______
Total Investment Products 46,329 33,894 (25,261) 8,633 (205) 2,442 10,870 57,199
Market & Net
Opening Other Currency Movement Closing
FUM Gross Redemptions Net Movements Movements In FUM FUM
Inflows Inflows
2007 Movement Relative to 2006 % % % % % % % %
M&G
Retail 31% 29% (65%) (12%) - (71%) (31%) 16%
Institutional 19% (10%) (1%) (25%) (276%) 7% (25%) 12%
______ ______ ______ ______ ______ ______ ______ ______
Total M&G 24% 9% (33%) (19%) (276%) (38%) (28%) 14%
Asia
India 28% 18% (54%) (63%) 327% 1,118% 228% 72%
Taiwan 53% 58% (77%) 9% - 789% 50% 52%
Korea 30% (23%) (23%) (128%) 21% 658% (101%) (0%)
Japan 4% 70% (17%) 220% - 230% 1,137% 53%
Other Mutual Fund Operations 42% 100% (131%) 51% 5,500% 841% 148% 73%
______ ______ ______ ______ ______ ______ ______ ______
Total Asia Equity/Bond/Other 24% 29% (47%) (14%) 104% 1,228% 116% 42%
MMF
India 54% 170% (167%) 287% (256%) 64% 185% 100%
Taiwan (30%) 65% (39%) 215% - 110% 183% 35%
Korea 14% (1%) (9%) (224%) (24%) 314% (272%) (21%)
Other Mutual Fund Operations (7%) 133% (77%) 3,500% - 185% 1,290% 89%
______ ______ ______ ______ ______ ______ ______ ______
Total Asian MMF 6% 128% (124%) 461% (213%) 460% 663% 45%
______ ______ ______ ______ ______ ______ ______ ______
Total Asia Retail Mutual Funds 21% 91% (101%) 17% 20% 1,741% 147% 43%
Third Party Institutional 22% 57% (151%) 8% - 173% 85% 33%
Mandates
______ ______ ______ ______ ______ ______ ______ ______
Total Asian Investment 21% 91% (101%) 17% 20% 3,712% 143% 42%
Operations
US
Retail - - - - - - - -
______ ______ ______ ______ ______ ______ ______ ______
Total US - - - - - - - -
______ ______ ______ ______ ______ ______ ______ ______
Total Investment Products 23% 59% (81%) (8%) (155%) 65% 6% 20%
2007 Q4 2006 Q4
US YTD YTD +/- (%)
GBPm GBPm
Curian Capital
External Funds Under 1,743 1,222 43%
Administration
Schedule 3 - Actual Exchange Rates
PRUDENTIAL PLC - NEW BUSINESS - QUARTER 4 2007 VERSUS QUARTER 4 2006
INSURANCE OPERATIONS
Single Regular Total Annual Equivalents
Q4 2007 Q4 2006 +/-(%) Q4 2007 Q4 2006 +/-(%) Q4 2007 Q4 2006 +/-(%) Q4 2007 Q4 2006 +/-(%)
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
UK Insurance Operations
Product Summary
Internal Vesting 369 369 0% - - - 369 369 0% 37 37 0%
annuities
Direct and Partnership 184 279 (34%) - - - 184 279 (34%) 18 28 (36%)
Annuities
Intermediated Annuities 140 188 (26%) - - - 140 188 (26%) 14 19 (26%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Individual 693 836 (17%) - - - 693 836 (17%) 69 84 (18%)
Annuities
Equity Release 48 34 41% - - - 48 34 41% 5 3 67%
Individual Pensions 11 5 120% - - - 11 5 120% 1 1 0%
Corporate Pensions 162 265 (39%) 26 27 (4%) 188 292 (36%) 42 54 (22%)
Unit Linked Bonds 43 85 (49%) - - - 43 85 (49%) 4 9 (56%)
With-Profit Bonds 114 49 133% - - - 114 49 133% 11 5 120%
Protection - 9 - 2 - - 2 9 (78%) 2 1 100%
Offshore Products 129 100 29% 1 - - 130 100 30% 14 10 40%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail Retirement 1,200 1,383 (13%) 29 27 7% 1,229 1,410 (13%) 149 165 (10%)
Corporate Pensions 30 73 (59%) 29 19 53% 59 92 (36%) 32 26 23%
Other Products 47 52 (10%) 5 7 (29%) 52 59 (12%) 10 12 (17%)
DWP Rebates 14 - - - - - 14 - - 1 - -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Mature Life and 91 125 (27%) 34 26 31% 125 151 (17%) 43 39 10%
Pensions
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 1,291 1,508 (14%) 63 53 19% 1,354 1,561 (13%) 192 204 (6%)
Wholesale Annuities 1,754 131 1,239% - - - 1,754 131 1,239% 175 13 1,246%
Credit Life 4 197 (98%) - - - 4 197 (98%) - 20 -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 3,049 1,836 66% 63 53 19% 3,112 1,889 65% 368 237 55%
Operations
Channel Summary
Direct and Partnership 648 949 (32%) 58 47 23% 706 996 (29%) 123 142 (13%)
Intermediated 627 559 12% 5 6 (17%) 632 565 12% 68 62 10%
Wholesale 1,760 328 437% - - - 1,760 328 437% 176 33 433%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total 3,035 1,836 65% 63 53 19% 3,098 1,889 64% 367 237 55%
DWP Rebates 14 - - - - - 14 - - 1 - -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 3,049 1,836 66% 63 53 19% 3,112 1,889 65% 368 237 55%
Operations
US Insurance Operations
Fixed Annuities 152 172 (12%) - - - 152 172 (12%) 15 17 (12%)
Fixed Index Annuities 104 117 (11%) - - - 104 117 (11%) 10 12 (17%)
Variable Annuities 1,137 1,010 13% - - - 1,137 1,010 13% 114 101 13%
Life 2 2 0% 6 4 50% 8 6 33% 6 4 50%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total Retail 1,395 1,301 7% 6 4 50% 1,401 1,305 7% 146 134 9%
Guaranteed Investment 148 133 11% - - - 148 133 11% 15 13 15%
Contracts
GIC - Medium Term Note (4) (5) 20% - - - (4) (5) 20% - (1) -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total US Insurance 1,539 1,429 8% 6 4 50% 1,545 1,433 8% 160 147 9%
Operations
Asian Insurance
Operations
China 17 5 240% 7 15 (53%) 24 20 20% 9 16 (44%)
Hong Kong 178 131 36% 35 35 0% 213 166 28% 53 48 10%
India 6 6 0% 53 28 89% 59 34 74% 54 29 86%
Indonesia 53 14 279% 38 22 73% 91 36 153% 43 23 87%
Japan 40 27 48% 6 4 50% 46 31 48% 10 7 43%
Korea 60 27 122% 61 53 15% 121 80 51% 67 56 20%
Malaysia 21 1 2,000% 29 24 21% 50 25 100% 31 24 29%
Singapore 168 86 95% 21 25 (16%) 189 111 70% 38 34 12%
Taiwan 33 34 (3%) 36 33 9% 69 67 3% 39 36 8%
Other 15 6 150% 22 11 100% 37 17 118% 24 12 100%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Asian Insurance 591 337 75% 308 250 23% 899 587 53% 367 284 29%
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Group Total 5,179 3,602 44% 377 307 23% 5,556 3,909 42% 895 667 34%
INVESTMENT OPERATIONS
Market & Net
Opening Other Currency Movement Closing
FUM Gross Redemptions Net Inflows Movements Movements In FUM FUM
Inflows
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
M&G Q4 2007 49,907 3,933 (2,568) 1,365 (123) 72 1,314 51,221
Q4 2006 42,258 3,505 (2,513) 992 (7) 1,703 2,688 44,946
+/-(%) 18% 12% (2%) 38% (1,657%) (96%) (51%) 14%
Asia Retail Mutual Q4 2007 15,120 10,842 (10,346) 496 (125) 786 1,157 16,277
Funds
Q4 2006 10,396 5,674 (4,737) 937 (35) 115 1,017 11,413
+/-(%) 45% 91% (118%) (47%) (257%) 583% 14% 43%
Asia Third Party Q4 2007 980 167 (76) 91 - 45 136 1,116
Q4 2006 758 40 (4) 36 - 46 82 840
+/-(%) 29% 318% (1,800%) 153% - (2%) 66% 33%
US Retail Mutual Funds Q4 2007 32 27 (2) 25 - (2) 23 55
Q4 2006 - - - - - - - -
+/-(%) - - - - - - - -
Total Investment Q4 2007 66,039 14,969 (12,992) 1,977 (248) 901 2,630 68,669
Products
Q4 2006 53,412 9,219 (7,254) 1,965 (42) 1,864 3,787 57,199
+/-(%) 24% 62% (79%) 1% (490%) (52%) (31%) 20%
Schedule 4 - Actual Exchange Rates
PRUDENTIAL PLC - NEW BUSINESS - QUARTER 4 2007 VERSUS QUARTER 3 2007
INSURANCE OPERATIONS
Single Regular Total Annual Equivalents
Q4 2007 Q 3 +/-(%) Q4 2007 Q 3 2007 +/-(%) Q4 2007 Q 3 +/-(%) Q4 2007 Q 3 +/-(%)
2007 2007 2007
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
UK Insurance
Operations
Product Summary
Internal Vesting 369 343 8% - - - 369 343 8% 37 34 9%
annuities
Direct and Partnership 184 227 (19%) - - - 184 227 (19%) 18 23 (22%)
Annuities
Intermediated 140 167 (16%) - - - 140 167 (16%) 14 17 (18%)
Annuities
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Individual 693 737 (6%) - - - 693 737 (6%) 69 74 (7%)
Annuities
Equity Release 48 41 17% - - - 48 41 17% 5 4 25%
Individual Pensions 11 9 22% - 1 - 11 10 10% 1 2 (50%)
Corporate Pensions 162 14 1,057% 26 16 63% 188 30 527% 42 17 147%
Unit Linked Bonds 43 62 (31%) - - - 43 62 (31%) 4 6 (33%)
With-Profit Bonds 114 69 65% - - - 114 69 65% 11 7 57%
Protection - - - 2 1 100% 2 1 100% 2 1 100%
Offshore Products 129 100 29% 1 1 0% 130 101 29% 14 11 27%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 1,200 1,032 16% 29 19 53% 1,229 1,051 17% 149 122 22%
Retirement
Corporate Pensions 30 58 (48%) 29 26 12% 59 84 (30%) 32 32 0%
Other Products 47 43 9% 5 7 (29%) 52 50 4% 10 11 (9%)
DWP Rebates 14 - - - - - 14 - - 1 - -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Mature Life and 91 101 (10%) 34 33 3% 125 134 (7%) 43 43 0%
Pensions
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 1,291 1,133 14% 63 52 21% 1,354 1,185 14% 192 165 16%
Wholesale Annuities 1,754 7 24,957% - - - 1,754 7 24,957% 175 1 17,400%
Credit Life 4 2 100% - - - 4 2 100% - - -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 3,049 1,142 167% 63 52 21% 3,112 1,194 161% 368 166 122%
Operations
Channel Summary
Direct and Partnership 648 586 11% 58 45 29% 706 631 12% 123 104 18%
Intermediated 627 549 14% 5 7 (29%) 632 556 14% 68 62 10%
Wholesale 1,760 7 25,043% - - - 1,760 7 25,043% 176 1 17,500%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total 3,035 1,142 166% 63 52 21% 3,098 1,194 159% 367 166 121%
DWP Rebates 14 - - - - - 14 - - 1 - -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 3,049 1,142 167% 63 52 21% 3,112 1,194 161% 368 166 122%
Operations
US Insurance
Operations
Fixed Annuities 152 130 17% - - - 152 130 17% 15 13 15%
Fixed Index Annuities 104 122 (15%) - - - 104 122 (15%) 10 12 (17%)
Variable Annuities 1,137 1,174 (3%) - - - 1,137 1,174 (3%) 114 117 (3%)
Life 2 2 0% 6 4 50% 8 6 33% 6 4 50%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total Retail 1,395 1,428 (2%) 6 4 50% 1,401 1,432 (2%) 146 147 (1%)
Guaranteed Investment 148 127 17% - - - 148 127 17% 15 13 15%
Contracts
GIC - Medium Term Note (4) (4) 0% - - - (4) (4) 0% - - -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total US Insurance 1,539 1,551 (1%) 6 4 50% 1,545 1,555 (1%) 160 159 1%
Operations
Asian Insurance
Operations
China 17 36 (53%) 7 13 (46%) 24 49 (51%) 9 17 (47%)
Hong Kong 178 124 44% 35 28 25% 213 152 40% 53 40 33%
India 6 4 50% 53 43 23% 59 47 26% 54 43 26%
Indonesia 53 30 77% 38 28 36% 91 58 57% 43 31 39%
Japan 40 30 33% 6 5 20% 46 35 31% 10 8 25%
Korea 60 47 28% 61 67 (9%) 121 114 6% 67 72 (7%)
Malaysia 21 11 91% 29 17 71% 50 28 79% 31 18 72%
Singapore 168 119 41% 21 16 31% 189 135 40% 38 28 36%
Taiwan 33 36 (8%) 36 46 (22%) 69 82 (16%) 39 50 (22%)
Other 15 8 88% 22 12 83% 37 20 85% 24 13 85%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Asian Insurance 591 445 33% 308 275 12% 899 720 25% 367 320 15%
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Group Total 5,179 3,138 65% 377 331 14% 5,556 3,469 60% 895 645 39%
INVESTMENT OPERATIONS
Market & Net
Opening Other Currency Movement Closing
FUM Gross Redemptions Net Movements Movements In FUM FUM
Inflows Inflows
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
M&G Q4 2007 49,907 3,933 (2,568) 1,365 (123) 72 1,314 51,221
Q3 2007 48,624 3,293 (3,067) 226 (85) 1,142 1,283 49,907
+/-(%) 3% 19% 16% 504% (45%) (94%) 2% 3%
Asia Retail Mutual Q4 2007 15,120 10,842 (10,346) 496 (125) 786 1,157 16,277
Funds
Q3 2007 13,677 10,463 (9,757) 706 (21) 758 1,443 15,120
+/-(%) 11% 4% (6%) (30%) (495%) 4% (20%) 8%
Asia Third Party Q4 2007 980 167 (76) 91 - 45 136 1,116
Q3 2007 903 11 (5) 6 - 71 77 980
+/-(%) 9% 1,418% (1,420%) 1,417% - (37%) 77% 14%
US Retail Mutual Q4 2007 32 27 (2) 25 - (2) 23 55
Funds
Q3 2007 18 14 (1) 13 - 1 14 32
+/-(%) 78% 93% (100%) 92% - (300%) 64% 72%
Total Investment Q4 2007 66,039 14,969 (12,992) 1,977 (248) 901 2,630 68,669
Products
Q3 2007 63,222 13,781 (12,830) 951 (106) 1,972 2,817 66,039
+/-(%) 4% 9% (1%) 108% (134%) (54%) (7%) 4%
Schedule 5 - Constant Exchange Rates
PRUDENTIAL PLC - NEW BUSINESS - FULL YEAR 2007
TOTAL INSURANCE AND INVESTMENT NEW BUSINESS
UK US Asia Total
FY 2007 FY 2006 +/-(%) FY 2007 FY 2006 +/-(%) FY 2007 FY 2006 +/-(%) FY 2007 FY +/-(%)
2006
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
Total Insurance 6,866 7,192 (5%) 6,534 5,507 19% 2,944 1,816 62% 16,344 14,515 13%
Products
Total Investment 14,745 13,486 9% 60 - - 38,954 19,816 97% 53,759 33,302 61%
Products - Gross
Inflows
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
21,611 20,678 5% 6,594 5,507 20% 41,898 21,632 94% 70,103 47,817 47%
INSURANCE OPERATIONS
Single Regular Total PVNBP
FY 2007 FY 2006 +/-(%) FY 2007 FY 2006 +/-(%) FY 2007 FY 2006 +/-(%) FY 2007 FY 2006 +/-(%)
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
UK Insurance Operations
Product Summary
Internal Vesting 1,399 1,341 4% - - - 1,399 1,341 4% 1,399 1,341 4%
annuities
Direct and Partnership 842 780 8% - - - 842 780 8% 842 780 8%
Annuities
Intermediated Annuities 589 592 (1%) - - - 589 592 (1%) 589 592 (1%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Individual 2,830 2,713 4% - - - 2,830 2,713 4% 2,830 2,713 4%
Annuities
Equity Release 156 89 75% - - - 156 89 75% 156 89 75%
Individual Pensions 38 21 81% 1 - - 39 21 86% 42 21 100%
Corporate Pensions 283 318 (11%) 84 66 27% 367 384 (4%) 737 490 50%
Unit Linked Bonds 243 388 (37%) - - - 243 388 (37%) 243 388 (37%)
With-Profit Bonds 297 139 114% - - - 297 139 114% 297 139 114%
Protection - 11 - 5 9 (44%) 5 20 (75%) 26 63 (59%)
Offshore Products 434 540 (20%) 4 - - 438 540 (19%) 455 540 (16%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail Retirement 4,281 4,219 1% 94 75 25% 4,375 4,294 2% 4,786 4,443 8%
Corporate Pensions 198 261 (24%) 115 100 15% 313 361 (13%) 604 643 (6%)
Other Products 190 232 (18%) 25 26 (4%) 215 258 (17%) 276 347 (20%)
DWP Rebates 143 161 (11%) - - - 143 161 (11%) 143 161 (11%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Mature Life and 531 654 (19%) 140 126 11% 671 780 (14%) 1,023 1,151 (11%)
Pensions
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 4,812 4,873 (1%) 234 201 16% 5,046 5,074 (1%) 5,809 5,594 4%
Wholesale Annuities 1,799 1,431 26% - - - 1,799 1,431 26% 1,799 1,431 26%
Credit Life 21 687 (97%) - - - 21 687 (97%) 21 687 (97%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 6,632 6,991 (5%) 234 201 16% 6,866 7,192 (5%) 7,629 7,712 (1%)
Operations
Channel Summary
Direct and Partnership 2,385 2,543 (6%) 209 174 20% 2,594 2,717 (5%) 3,287 3,133 5%
Intermediated 2,284 2,169 5% 25 27 (7%) 2,309 2,196 5% 2,378 2,300 3%
Wholesale 1,820 2,118 (14%) - - - 1,820 2,118 (14%) 1,820 2,118 (14%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total 6,489 6,830 (5%) 234 201 16% 6,723 7,031 (4%) 7,485 7,551 (1%)
DWP Rebates 143 161 (11%) - - - 143 161 (11%) 143 161 (11%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 6,632 6,991 (5%) 234 201 16% 6,866 7,192 (5%) 7,629 7,712 (1%)
Operations
US Insurance Operations
Fixed Annuities 573 633 (9%) - - - 573 633 (9%) 573 633 (9%)
Fixed Index Annuities 446 510 (13%) - - - 446 510 (13%) 446 510 (13%)
Variable Annuities 4,554 3,517 29% - - - 4,554 3,517 29% 4,554 3,517 29%
Life 7 7 0% 19 16 19% 26 23 13% 158 135 17%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total Retail 5,580 4,667 20% 19 16 19% 5,599 4,683 20% 5,731 4,795 20%
Guaranteed Investment 408 422 (3%) - - - 408 422 (3%) 408 422 (3%)
Contracts
GIC - Medium Term Note 527 402 31% - - - 527 402 31% 527 402 31%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total US Insurance 6,515 5,491 19% 19 16 19% 6,534 5,507 19% 6,666 5,619 19%
Operations
Asian Insurance
Operations
China 72 26 177% 40 35 14% 112 61 84% 268 191 40%
Hong Kong 501 325 54% 117 95 23% 618 420 47% 1,196 856 40%
India 26 20 30% 177 106 67% 203 126 61% 728 415 75%
Indonesia 118 28 321% 109 66 65% 227 94 141% 494 249 98%
Japan 122 62 97% 22 6 267% 144 68 112% 214 88 143%
Korea 179 97 85% 241 197 22% 420 294 43% 1,267 1,069 19%
Malaysia 41 4 925% 78 71 10% 119 75 59% 472 410 15%
Singapore 593 347 71% 67 70 (4%) 660 417 58% 1,047 779 34%
Taiwan 132 84 57% 218 127 72% 350 211 66% 1,121 678 65%
Other 36 15 140% 55 35 57% 91 50 82% 200 126 59%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Asian Insurance 1,820 1,008 81% 1,124 808 39% 2,944 1,816 62% 7,007 4,861 44%
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Group Total 14,967 13,490 11% 1,377 1,025 34% 16,344 14,515 13% 21,302 18,192 17%
Schedule 6 - Actual Exchange Rates
PRUDENTIAL PLC - NEW BUSINESS - FULL YEAR 2007
TOTAL INSURANCE AND INVESTMENT NEW BUSINESS
UK US Asia Total
FY 2007 FY 2006 +/-(%) FY 2007 FY 2006 +/-(%) FY 2007 FY 2006 +/-(%) FY 2007 FY +/-(%)
2006
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
Total Insurance 6,866 7,192 (5%) 6,534 5,981 9% 2,944 1,921 53% 16,344 15,094 8%
Products
Total Investment 14,745 13,486 9% 60 - - 38,954 20,408 91% 53,759 33,894 59%
Products - Gross
Inflows
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
21,611 20,678 5% 6,594 5,981 10% 41,898 22,329 88% 70,103 48,988 43%
INSURANCE OPERATIONS
Single Regular Total PVNBP
FY 2007 FY 2006 +/-(%) FY 2007 FY 2006 +/-(%) FY 2007 FY 2006 +/-(%) FY 2007 FY +/-(%)
2006
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
UK Insurance Operations
Product Summary
Internal Vesting 1,399 1,341 4% - - - 1,399 1,341 4% 1,399 1,341 4%
annuities
Direct and Partnership 842 780 8% - - - 842 780 8% 842 780 8%
Annuities
Intermediated Annuities 589 592 (1%) - - - 589 592 (1%) 589 592 (1%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Individual 2,830 2,713 4% - - - 2,830 2,713 4% 2,830 2,713 4%
Annuities
Equity Release 156 89 75% - - - 156 89 75% 156 89 75%
Individual Pensions 38 21 81% 1 - - 39 21 86% 42 21 100%
Corporate Pensions 283 318 (11%) 84 66 27% 367 384 (4%) 737 490 50%
Unit Linked Bonds 243 388 (37%) - - - 243 388 (37%) 243 388 (37%)
With-Profit Bonds 297 139 114% - - - 297 139 114% 297 139 114%
Protection - 11 - 5 9 (44%) 5 20 (75%) 26 63 (59%)
Offshore Products 434 540 (20%) 4 - - 438 540 (19%) 455 540 (16%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail Retirement 4,281 4,219 1% 94 75 25% 4,375 4,294 2% 4,786 4,443 8%
Corporate Pensions 198 261 (24%) 115 100 15% 313 361 (13%) 604 643 (6%)
Other Products 190 232 (18%) 25 26 (4%) 215 258 (17%) 276 347 (20%)
DWP Rebates 143 161 (11%) - - - 143 161 (11%) 143 161 (11%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Mature Life and 531 654 (19%) 140 126 11% 671 780 (14%) 1,023 1,151 (11%)
Pensions
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 4,812 4,873 (1%) 234 201 16% 5,046 5,074 (1%) 5,809 5,594 4%
Wholesale Annuities 1,799 1,431 26% - - - 1,799 1,431 26% 1,799 1,431 26%
Credit Life 21 687 (97%) - - - 21 687 (97%) 21 687 (97%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 6,632 6,991 (5%) 234 201 16% 6,866 7,192 (5%) 7,629 7,712 (1%)
Operations
Channel Summary
Direct and Partnership 2,385 2,543 (6%) 209 174 20% 2,594 2,717 (5%) 3,287 3,133 5%
Intermediated 2,284 2,169 5% 25 27 (7%) 2,309 2,196 5% 2,378 2,300 3%
Wholesale 1,820 2,118 (14%) - - - 1,820 2,118 (14%) 1,820 2,118 (14%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total 6,489 6,830 (5%) 234 201 16% 6,723 7,031 (4%) 7,485 7,551 (1%)
DWP Rebates 143 161 (11%) - - - 143 161 (11%) 143 161 (11%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 6,632 6,991 (5%) 234 201 16% 6,866 7,192 (5%) 7,629 7,712 (1%)
Operations
US Insurance Operations
Fixed Annuities 573 688 (17%) - - - 573 688 (17%) 573 688 (17%)
Fixed Index Annuities 446 554 (19%) - - - 446 554 (19%) 446 554 (19%)
Variable Annuities 4,554 3,819 19% - - - 4,554 3,819 19% 4,554 3,819 19%
Life 7 8 (13%) 19 17 12% 26 25 4% 158 147 7%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total Retail 5,580 5,069 10% 19 17 12% 5,599 5,086 10% 5,731 5,208 10%
Guaranteed Investment 408 458 (11%) - - - 408 458 (11%) 408 458 (11%)
Contracts
GIC - Medium Term Note 527 437 21% - - - 527 437 21% 527 437 21%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total US Insurance 6,515 5,964 9% 19 17 12% 6,534 5,981 9% 6,666 6,103 9%
Operations
Asian Insurance
Operations
China 72 27 167% 40 36 11% 112 63 78% 268 198 35%
Hong Kong 501 355 41% 117 103 14% 618 458 35% 1,196 933 28%
India 26 20 30% 177 105 69% 203 125 62% 728 411 77%
Indonesia 118 31 281% 109 71 54% 227 102 123% 494 269 84%
Japan 122 68 79% 22 7 214% 144 75 92% 214 97 121%
Korea 179 103 74% 241 208 16% 420 311 35% 1,267 1,130 12%
Malaysia 41 4 925% 78 72 8% 119 76 57% 472 418 13%
Singapore 593 357 66% 67 72 (7%) 660 429 54% 1,047 803 30%
Taiwan 132 92 43% 218 139 57% 350 231 52% 1,121 743 51%
Other 36 15 140% 55 36 53% 91 51 78% 200 130 54%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Asian Insurance 1,820 1,072 70% 1,124 849 32% 2,944 1,921 53% 7,007 5,132 37%
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Group Total 14,967 14,027 7% 1,377 1,067 29% 16,344 15,094 8% 21,302 18,947 12%
Schedule 7 - Actual Exchange Rates
PRUDENTIAL PLC - NEW BUSINESS - QUARTER 4 2007 VERSUS QUARTER 4 2006
INSURANCE OPERATIONS
Single Regular Total PVNBP
Q4 2007 Q4 2006 +/-(%) Q4 2007 Q4 2006 +/-(%) Q4 2007 Q4 2006 +/-(%) Q4 2007 Q4 +/-(%)
2006
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
UK Insurance
Operations
Product Summary
Internal Vesting 369 369 0% - - - 369 369 0% 369 369 0%
annuities
Direct and Partnership 184 279 (34%) - - - 184 279 (34%) 184 279 (34%)
Annuities
Intermediated 140 188 (26%) - - - 140 188 (26%) 140 188 (26%)
Annuities
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Individual 693 836 (17%) - - - 693 836 (17%) 693 836 (17%)
Annuities
Equity Release 48 34 41% - - - 48 34 41% 48 34 41%
Individual Pensions 11 5 120% - - - 11 5 120% 13 5 160%
Corporate Pensions 162 265 (39%) 26 27 (4%) 188 292 (36%) 354 314 13%
Unit Linked Bonds 43 85 (49%) - - - 43 85 (49%) 43 85 (49%)
With-Profit Bonds 114 49 133% - - - 114 49 133% 114 49 133%
Protection - 9 - 2 - - 2 9 (78%) 6 24 (75%)
Offshore Products 129 100 29% 1 - - 130 100 30% 135 100 35%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 1,200 1,383 (13%) 29 27 7% 1,229 1,410 (13%) 1,406 1,447 (3%)
Retirement
Corporate Pensions 30 73 (59%) 29 19 53% 59 92 (36%) 135 113 19%
Other Products 47 52 (10%) 5 7 (29%) 52 59 (12%) 70 80 (13%)
DWP Rebates 14 - - - - - 14 - - 14 - -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Mature Life and 91 125 (27%) 34 26 31% 125 151 (17%) 219 193 13%
Pensions
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 1,291 1,508 (14%) 63 53 19% 1,354 1,561 (13%) 1,625 1,640 (1%)
Wholesale Annuities 1,754 131 1,239% - - - 1,754 131 1,239% 1,754 131 1,239%
Credit Life 4 197 (98%) - - - 4 197 (98%) 4 197 (98%)
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 3,049 1,836 66% 63 53 19% 3,112 1,889 65% 3,383 1,968 72%
Operations
Channel Summary
Direct and Partnership 648 949 (32%) 58 47 23% 706 996 (29%) 957 1,045 (8%)
Intermediated 627 559 12% 5 6 (17%) 632 565 12% 651 595 9%
Wholesale 1,760 328 437% - - - 1,760 328 437% 1,760 328 437%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total 3,035 1,836 65% 63 53 19% 3,098 1,889 64% 3,368 1,968 71%
DWP Rebates 14 - - - - - 14 - - 14 - -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 3,049 1,836 66% 63 53 19% 3,112 1,889 65% 3,383 1,968 72%
Operations
US Insurance
Operations
Fixed Annuities 152 172 (12%) - - - 152 172 (12%) 152 172 (12%)
Fixed Index Annuities 104 117 (11%) - - - 104 117 (11%) 104 117 (11%)
Variable Annuities 1,137 1,010 13% - - - 1,137 1,010 13% 1,137 1,010 13%
Life 2 2 0% 6 4 50% 8 6 33% 54 43 26%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total Retail 1,395 1,301 7% 6 4 50% 1,401 1,305 7% 1,447 1,342 8%
Guaranteed Investment 148 133 11% - - - 148 133 11% 148 133 11%
Contracts
GIC - Medium Term Note (4) (5) 20% - - - (4) (5) 20% (4) (5) 20%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total US Insurance 1,539 1,429 8% 6 4 50% 1,545 1,433 8% 1,591 1,470 8%
Operations
Asian Insurance
Operations
China 17 5 240% 7 15 (53%) 24 20 20% 65 60 8%
Hong Kong 178 131 36% 35 35 0% 213 166 28% 424 324 31%
India 6 6 0% 53 28 89% 59 34 74% 219 148 48%
Indonesia 53 14 279% 38 22 73% 91 36 153% 192 86 123%
Japan 40 27 48% 6 4 50% 46 31 48% 66 42 57%
Korea 60 27 122% 61 53 15% 121 80 51% 284 400 (29%)
Malaysia 21 1 2,000% 29 24 21% 50 25 100% 186 136 37%
Singapore 168 86 95% 21 25 (16%) 189 111 70% 326 237 38%
Taiwan 33 34 (3%) 36 33 9% 69 67 3% 151 143 6%
Other 15 6 150% 22 11 100% 37 17 118% 78 31 152%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Asian Insurance 591 337 75% 308 250 23% 899 587 53% 1,991 1,607 24%
Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Group Total 5,179 3,602 44% 377 307 23% 5,556 3,909 42% 6,965 5,045 38%
INVESTMENT OPERATIONS
Market & Net
Opening Other Currency Movement Closing
FUM Gross Redemptions Net Movements Movements In FUM FUM
Inflows Inflows
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
M&G Q4 2007 49,907 3,933 (2,568) 1,365 (123) 72 1,314 51,221
Q4 2006 42,258 3,505 (2,513) 992 (7) 1,703 2,688 44,946
+/-(%) 18% 12% (2%) 38% (1,657%) (96%) (51%) 14%
Asia Retail Mutual Funds Q4 2007 15,120 10,842 (10,346) 496 (125) 786 1,157 16,277
Q4 2006 10,396 5,674 (4,737) 937 (35) 115 1,017 11,413
+/-(%) 45% 91% (118%) (47%) (257%) 583% 14% 43%
Asia Third Party Q4 2007 980 167 (76) 91 - 45 136 1,116
Q4 2006 758 40 (4) 36 - 46 82 840
+/-(%) 29% 318% (1,800%) 153% - (2%) 66% 33%
US Retail Mutual Funds Q4 2007 32 27 (2) 25 - (2) 23 55
Q4 2006 - - - - - - - -
+/-(%) - - - - - - - -
Total Investment Q4 2007 66,039 14,969 (12,992) 1,977 (248) 901 2,630 68,669
Products
Q4 2006 53,412 9,219 (7,254) 1,965 (42) 1,864 3,787 57,199
+/-(%) 24% 62% (79%) 1% (490%) (52%) (31%) 20%
Schedule 8 - Actual Exchange Rates
PRUDENTIAL PLC - NEW BUSINESS - QUARTER 4 2007 VERSUS QUARTER 3 2007
INSURANCE OPERATIONS
Single Regular Total PVNBP
Q4 2007 Q 3 +/-(%) Q4 2007 Q3 2007 +/-(%) Q4 2007 Q 3 +/-(%) Q4 2007 Q 3 +/-(%)
2007 2007 2007
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
UK Insurance
Operations
Product Summary
Internal Vesting 369 343 8% - - - 369 343 8% 369 343 8%
annuities
Direct and 184 227 (19%) - - - 184 227 (19%) 184 227 (19%)
Partnership
Annuities
Intermediated 140 167 (16%) - - - 140 167 (16%) 140 167 (16%)
Annuities
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Individual 693 737 (6%) - - - 693 737 (6%) 693 737 (6%)
Annuities
Equity Release 48 41 17% - - - 48 41 17% 48 41 17%
Individual Pensions 11 9 22% - 1 - 11 10 10% 13 9 44%
Corporate Pensions 162 14 1,057% 26 16 63% 188 30 527% 354 87 307%
Unit Linked Bonds 43 62 (31%) - - - 43 62 (31%) 43 62 (31%)
With-Profit Bonds 114 69 65% - - - 114 69 65% 114 69 65%
Protection - - - 2 1 100% 2 1 100% 6 6 0%
Offshore Products 129 100 29% 1 1 0% 130 101 29% 135 105 29%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 1,200 1,032 16% 29 19 53% 1,229 1,051 17% 1,406 1,116 26%
Retirement
Corporate Pensions 30 58 (48%) 29 26 12% 59 84 (30%) 135 155 (13%)
Other Products 47 43 9% 5 7 (29%) 52 50 4% 70 61 15%
DWP Rebates 14 - - - - - 14 - - 14 - -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Mature Life 91 101 (10%) 34 33 3% 125 134 (7%) 219 216 1%
and Pensions
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Retail 1,291 1,133 14% 63 52 21% 1,354 1,185 14% 1,625 1,332 22%
Wholesale Annuities 1,754 7 24,957% - - - 1,754 7 24,957% 1,754 7 24,957%
Credit Life 4 2 100% - - - 4 2 100% 4 2 100%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 3,049 1,142 167% 63 52 21% 3,112 1,194 161% 3,383 1,341 152%
Operations
Channel Summary
Direct and 648 586 11% 58 45 29% 706 631 12% 957 763 25%
Partnership
Intermediated 627 549 14% 5 7 (29%) 632 556 14% 651 571 14%
Wholesale 1,760 7 25,043% - - - 1,760 7 25,043% 1,760 7 25,043%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total 3,035 1,142 166% 63 52 21% 3,098 1,194 159% 3,368 1,341 151%
DWP Rebates 14 - - - - - 14 - - 14 - -
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total UK Insurance 3,049 1,142 167% 63 52 21% 3,112 1,194 161% 3,383 1,341 152%
Operations
US Insurance
Operations
Fixed Annuities 152 130 17% - - - 152 130 17% 152 130 17%
Fixed Index 104 122 (15%) - - - 104 122 (15%) 104 122 (15%)
Annuities
Variable Annuities 1,137 1,174 (3%) - - - 1,137 1,174 (3%) 1,137 1,174 (3%)
Life 2 2 0% 6 4 50% 8 6 33% 54 36 50%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Sub-Total Retail 1,395 1,428 (2%) 6 4 50% 1,401 1,432 (2%) 1,447 1,462 (1%)
Guaranteed 148 127 17% - - - 148 127 17% 148 127 17%
Investment Contracts
GIC - Medium Term (4) (4) 0% - - - (4) (4) 0% (4) (4) 0%
Note
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total US Insurance 1,539 1,551 (1%) 6 4 50% 1,545 1,555 (1%) 1,591 1,585 0%
Operations
Asian Insurance
Operations
China 17 36 (53%) 7 13 (46%) 24 49 (51%) 65 91 (29%)
Hong Kong 178 124 44% 35 28 25% 213 152 40% 424 279 52%
India 6 4 50% 53 43 23% 59 47 26% 219 169 30%
Indonesia 53 30 77% 38 28 36% 91 58 57% 192 124 55%
Japan 40 30 33% 6 5 20% 46 35 31% 66 51 29%
Korea 60 47 28% 61 67 (9%) 121 114 6% 284 375 (24%)
Malaysia 21 11 91% 29 17 71% 50 28 79% 186 100 86%
Singapore 168 119 41% 21 16 31% 189 135 40% 326 237 38%
Taiwan 33 36 (8%) 36 46 (22%) 69 82 (16%) 151 259 (42%)
Other 15 8 88% 22 12 83% 37 20 85% 78 45 73%
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Total Asian 591 445 33% 308 275 12% 899 720 25% 1,991 1,730 15%
Insurance Operations
______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______
Group Total 5,179 3,138 65% 377 331 14% 5,556 3,469 60% 6,965 4,656 50%
INVESTMENT OPERATIONS
Market & Net
Opening Other Currency Movement Closing
FUM Gross Redemptions Net Movements Movements In FUM FUM
Inflows Inflows
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
M&G Q4 2007 49,907 3,933 (2,568) 1,365 (123) 72 1,314 51,221
Q3 2007 48,624 3,293 (3,067) 226 (85) 1,142 1,283 49,907
+/-(%) 3% 19% 16% 504% (45%) (94%) 2% 3%
Asia Retail Mutual Q4 2007 15,120 10,842 (10,346) 496 (125) 786 1,157 16,277
Funds
Q3 2007 13,677 10,463 (9,757) 706 (21) 758 1,443 15,120
+/-(%) 11% 4% (6%) (30%) (495%) 4% (20%) 8%
Asia Third Party Q4 2007 980 167 (76) 91 - 45 136 1,116
Q3 2007 903 11 (5) 6 - 71 77 980
+/-(%) 9% 1,418% (1,420%) 1,417% - (37%) 77% 14%
US Retail Mutual Funds Q4 2007 32 27 (2) 25 - (2) 23 55
Q3 2007 18 14 (1) 13 - 1 14 32
+/-(%) 78% 93% (100%) 92% - (300%) 64% 72%
Total Investment Q4 2007 66,039 14,969 (12,992) 1,977 (248) 901 2,630 68,669
Products
Q3 2007 63,222 13,781 (12,830) 951 (106) 1,972 2,817 66,039
+/-(%) 4% 9% (1%) 108% (134%) (54%) (7%) 4%
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Date 29 January 2008
PRUDENTIAL PUBLIC LIMITED COMPANY
By: /s/ Jon Bunn
Jon Bunn
Director of Public Relations