Prudential (NYSE:PUK) has reported remarkable financial results for the first half of 2024, signalling continued growth despite global economic uncertainties.
The company registered a new business profit of $1,468 million, reflecting an 8% rise excluding economic impacts.
During the period under review, the company's adjusted operating profit rose by 9% to $1,544 million.
Furthermore, Prudential declared a first interim dividend of 6.84 cents per share, up from the 6.26 cents per share recorded in 2023, representing a 9% increase.
In line with its shareholder return strategy, the company announced that it is currently executing the first tranche of its $2 billion share buyback program.
As of 22nd August 2024, the company said it has repurchased 22 million shares for a total of £150 million ($192 million).
Meanwhile, the insurer also reported a decrease in its free surplus ratio to 232% from 242% at the end of 2023.
Following the earnings announcement, Prudential's share price stood at $117.92, showing little change in premarket trading.