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As of 8:10 PM 07/28/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

Laurence Pountney Hill

London, EC4R 0HH

United Kingdom

Phone: 44 20 7220 7588

Fax:

Prudential plc, together with its subsidiaries, provides retail financial products and services, and asset management services to individuals and businesses in Asia, the United States, and the United Kingdom. The company serves approximately 23 million insurance customers. Business Units The company is structured around four main business units: Prudential Corporation Asia (incorporating the asset management business, Eastspring Investments), Jackson National Life Insurance Company (Jackson), Prudential UK insurance operations and M&G. Prudential Corporation Asia has operations in Hong Kong, Malaysia, Singapore, Indonesia and other Asian countries. Its core business is health, protection, either attached to a life policy or on a standalone basis, other life insurance (including participating business) and mutual funds. It also provides selected personal lines property and casualty insurance, group insurance, institutional fund management and consumer finance (Vietnam only). The product range offered is tailored to suit the individual country markets. Insurance products are distributed mainly through an agency sales force together with selected banks, while the majority of mutual funds are sold through banks and brokers. Joint venture partners are mandatory in some markets, as reflected in Prudential’s life insurance operations in China and in India (through its joint venture with ICICI) and Prudential’s Takaful business in Malaysia (through its joint venture with Bank Simpanan Nasional). In the fund management business, Prudential has joint venture operations in India (through its joint venture with ICICI), China and Hong Kong (through its joint venture with Bank of China International). As of December 31, 2013, Prudential Corporation Asia had approximately 12 million insurance customers with life and fund management operations in 13 markets; distribution through 15,700 active bank branches across Asia with relationships, including Standard Chartered Bank, United Overseas Bank Limited and joint venture partners ICICI in India and CITIC in China; a network of tied agents in Asia; and consistently high brand recognition, outperforming many other financial services companies and had received multiple awards for its customer service. In the United States, the company offers a range of products through Jackson, including fixed annuities (fixed interest rate annuities, fixed index annuities and immediate annuities), variable annuities and institutional products (including guaranteed investment contracts and funding agreements). Jackson distributes its products through independent insurance agents; independent broker-dealers; regional broker-dealers; wirehouses; registered investment advisers; and banks, credit unions and other financial institutions. In the United Kingdom, the company is structured into Prudential UK & Europe (comprising the insurance operations) and M&G (the U.K. and European fund manager of the Group) and offers a range of retail financial products, and services, including long-term insurance and asset accumulation and retirement income products (life insurance, pensions and pension annuities), retail investment and unit trust products, and fund management services. Prudential in the United Kingdom primarily distributes these products through financial advisers, partnership agreements with other financial institutions, and direct marketing, by telephone, mail, Internet and face-to-face advisers. Strategy The company’s strategy is designed to create sustainable economic value for its customers and its shareholders. It is focused on three long-term opportunities, such as the significant protection gap in Asia; the transition of U.S. baby boomers into retirement; and the U.K. ‘savings gap’ and ageing population in need of returns and income. Asian Business Products The life insurance products offered by the company in Asia include with-profits (participating) and non-participating term, whole life and endowment and unit-linked policies often combined with protection riders and typically with regular premium payments. Prudential in Asia also offers health, disablement, critical il

 

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Industry Analysis

PUKPF

Industry Average

Valuation PUKPF Industry Range
Price/Earnings 27.1x
Price/Sales 0.7x
Price/Book 3.8x
Price/Cash Flow 27.3x
TEV/Sales 0.7x
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