PUKPF - Prudential: A Mispriced Growth Play In The Insurance Sector

2024-06-20 12:58:26 ET

Summary

• Prudential plc has delivered positive operating performance, with APE sales up 37% YoY and new business profits up 45% YoY in 2023.
• The company's strong growth was driven by operations in Hong Kong, with improved margins and net income, while China saw a drop in new business profits.
• Prudential's valuation is currently at 1.38x book value, lower than its historical average, making it an attractive growth play in the insurance sector.

Prudential p lc ( PUK ) has delivered a positive operating performance in recent months and its valuation is clearly attractive, remaining an interesting growth play in the insurance sector....

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