Prudential (LSE:PRU) said its full-year target for double-digit growth in new business profit is harder to reach after a sharper slowdown in mainland China.
The insurer now expects new business profit there to fall 10% to 15% this year, a steeper decline than it forecast at the half-year.
Group new business profit rose 1% to $709 million in the third quarter at constant exchange rates. Excluding mainland China, it grew 13%, with Hong Kong and Malaysia both recording double-digit growth.
New expense controls hit sales through banks at CITIC Prudential Life, which also faced a tough comparison with strong sales in July and August 2025.
Prudential expects mainland new business profit to return to growth in the fourth quarter after sales picked up in September and October.
For the first nine months, group new business profit rose 6% to $2.09 billion. Repricing helped lift the new business margin by three percentage points to 42%.
In London, Prudential shares were little moved, but were in positive territory; up 03.6p or 0.37%, changing hands at 967.6p.
