Prudential (PRU) Q3 2025 earnings summary

Executive summary

• Q3 new business profit rose 13% year-over-year to $705 million, with APE sales up 10% to $1,716 million and new business margin increasing by 1 percentage point.

• Double-digit growth in new business profit was achieved across most markets, with strong performance in Hong Kong, Mainland China, Malaysia, Singapore, and the "Growth markets and other" segment.

• Bancassurance and agency channels both contributed to growth, with targeted initiatives to improve agent quality and productivity, especially in ASEAN markets.

• The company remains on track to meet its 2025 guidance and 2027 financial objectives.

Financial highlights

• Q3 new business profit: $705 million, up 13% year-over-year (CER); nine-month NBP: $1,964 million, up 12%.

• Q3 APE sales: $1,716 million, up 10% year-over-year (CER); nine-month APE sales: $5,002 million, up 6%.

• New business margin improved to 41% in Q3, up 1 percentage point year-over-year.

• Eastspring funds under management or advice reached $286.4 billion at quarter-end, up from $274.9 billion at 30 June 2025, supported by $3.4 billion in net inflows and positive market appreciation.

Outlook and guidance

• Consistent performance year-to-date supports confidence in achieving 2025 guidance and 2027 financial objectives.

• Continued focus on high-quality new business and productivity improvements in agency and bancassurance channels.