PUK - Prudential Plc's Pivot To Asia Paying Off Already

• Prudential PLC shares have outperformed since management announced an accelerated demerger plan for Jackson National and a faster transition to an all-Asia life insurance model.
• Profits in the Asian operations were boosted by product mix in the second half, as customers sought out more protection products.
• Prudential PLC has strong share in multiple markets where insurance penetration is less than 5% and where rising household incomes are driving more interest in savings/insurance products.
• Double-digit core earnings growth in the Asian insurance operations, and a modest book value multiple for Jackson National, can support a $45 fair value, with good long-term appreciation potential.

For further details see: