Strategic Expansion and Growth
Asia
Clear strategic priorities and quality execution in HY20
Strategic priorities
Enhance the core
• Leader in banca¹ – enhanced with TMB banca agreement; access to >19,000 bank branches
.
90% of products capable of virtual sales; 38% of agency cases sold virtually in 2Q
•
Agent management moving online, supporting +7% increase in agent recruits²
Create best-in-class
health capability
•
Pulse by Prudential: 8.1m downloads³ vs 0.5m at the start of the year
•
1.7m digital policies³ sold through Pulse and partners
• 7 markets with higher H&P mix led by India, Singapore and Thailand
PRUworks (SME insurance proposition) driving group sales +20%4
Accelerate Eastspring
Expand presence
in China
.
Resilient Asia life flows driving internal FUM +15% to $122bn7
•
China WFOE's total sourced/sub-advised FUM of RMB2.8bn
•
Operating profit +10%4 supported by stringent cost management
• 20 branches with presence in 97 cities (+3) and 234 sales outlets (+5) 5
•
APE +20% in 2Q with all channels growing; GWP6 +33% in 2Q outgrowing sector >2x
Total (life) assets grew 35% to $17bn; no. of customers4 +12% to 1.6m
T
PRUDENTIAL
Data as of HY2020 unless stated otherwise.
1. By access to bank branches
2. Excluding India, vs HY19
3. As of 05 August 2020
4. Year-on-year growth on a constant exchange rate basis
5. Increase compared to yearend 2019
6. GWP = Gross written premium. Source: CBIRC
7. Growth rate based on re-presenting the half year 2019 comparatives to show the $24.9 billion of funds managed on behalf of M&G plc as external rather than internal funds under
management to align to the presentation since the demerger in October 2019
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