Prudential PLC posted a 3.6% rise in first-half operating profit on Wednesday, as the Asia-focused insurer benefited from a rebound in Chinese investors buying insurance products in Hong Kong, its key revenue centre. The profit numbers, which Jefferies analysts said came in slightly above consensus, drove Prudential's shares up 3.1% at 0721 GMT, making it the best performer in the FTSE 100. As China ended its stringent zero COVID-19 policy late last year and gradually removed border restrictions, mainland visitors have started to buy insurance again in the Asian financial hub.
(Reuters) -Asia-focused insurer AIA Group Ltd on Thursday reported a 37% rise in the value of its new business in the first-half, beating estimates, as sales rebounded in its key markets mainland China and Hong Kong after the lifting of pandemic restrictions. The insurer's value of new business (VONB), which measures expected profits from new premiums and is a key gauge for future growth, rose to $2.03 billion in the six months ended June 30, compared with $1.54 billion a year earlier. VONB at Hong Kong, its biggest market, rose around 111% to $681 million, boosted by domestic customers as well as travellers from mainland China.