6-K 1 pru200902206k3.htm FULL YEAR 2008 NEW BUSINESS - PART 3

SECURITIES AND EXCHANGE COMMISSION
 

Washington, D.C. 20549
 

FORM 6-K
 

REPORT OF FOREIGN PRIVATE ISSUER
 

Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
 

For the month of February, 2009
 
 

PRUDENTIAL PUBLIC LIMITED COMPANY
 

(Translation of registrant's name into English)
 
 

LAURENCE POUNTNEY HILL,
LONDON, EC4R 0HH, ENGLAND
(Address of principal executive offices)
 
 

Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.
 
 
Form 20-F X     Form 40-F
 
 

Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
 
 
Yes      No X
 
 
If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b): 82-            
 
 


Enclosure: Full Year 2008 New Business - Part 3
 

 

 

Schedule 4 - Actual Exchange Rates

PRUDENTIAL PLC - NEW BUSINESS - QUARTER 4 2008 VERSUS QUARTER 3 2008

INSURANCE OPERATIONS

     

Single

   

Regular

   

Total

 

Annual Equivalents

 

Note

Q4 2008

Q 3 2008

+/-(%)

Q4 2008

Q 3 2008

+/-(%)

Q4 2008

Q 3 2008

+/-(%)

Q4 2008

Q 3 2008

+/-(%)

   

£m

£m

 

£m

£m

 

£m

£m

 

£m

£m

 

UK Insurance Operations

                         
                           

Product Summary

                         
                           

Internal Vesting annuities

 

471

408

15%

-  

-  

-  

471

408

15%

47

41

15%

                           

Direct and Partnership Annuities

 

153

177

(14%)

-  

-  

-  

153

177

(14%)

15

18

(17%)

                           

Intermediated Annuities

 

96

116

(17%)

-  

-  

-  

96

116

(17%)

10

12

(17%)

   

______

______

______

______

______

______

______

______

______

______

______

______

Total Individual Annuities

 

720

701

3%

-  

-  

-  

720

701

3%

72

70

3%

                           

Equity Release

 

54

71

(24%)

-  

-  

-  

54

71

(24%)

5

7

(29%)

                           

Individual Pensions

 

63

20

215%

1

1

0%

64

21

205%

7

3

133%

                           

Corporate Pensions

 

67

60

12%

24

26

(8%)

91

86

6%

31

32

(3%)

                           

Unit Linked Bonds

 

21

21

0%

-  

-  

-  

21

21

0%

2

2

0%

                           

With-Profit Bonds

 

218

233

(6%)

-  

-  

-  

218

233

(6%)

22

23

(4%)

                           

Protection

 

-  

-  

-  

2

1

100%

2

1

100%

2

1

100%

                           

Offshore Products

 

104

126

(17%)

1

1

0%

105

127

(17%)

11

14

(21%)

                           

Pru Health

(12)

-  

-  

-  

2

6

(67%)

2

6

(67%)

2

6

(67%)

                           

Income Drawdown

(13)

21

24

(13%)

-  

-  

-  

21

24

(13%)

2

2

0%

   

______

______

______

______

______

______

______

______

______

______

______

______

Total Retail Retirement

 

1,268

1,256

1%

30

35

(14%)

1,298

1,291

1%

157

161

(2%)

 

 

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

                           

Corporate Pensions

(14)

-  

54

-  

28

26

8%

28

80

(65%)

28

31

(10%)

                           

Other Products

 

19

36

(47%)

4

6

(33%)

23

42

(45%)

6

10

(40%)

                           

DWP Rebates

 

50

-  

-  

-  

-  

-  

50

-  

-  

5

-  

-  

   

______

______

______

______

______

______

______

______

______

______

______

______

Total Mature Life and Pensions

 

69

90

(23%)

32

32

0%

101

122

(17%)

39

41

(5%)

   

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

   

______

______

______

______

______

______

______

______

______

______

______

______

Total Retail

 

1,337

1,346

(1%)

62

67

(7%)

1,399

1,413

(1%)

196

202

(3%)

 

 

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

                           

Wholesale Annuities

 

47

1,063

(96%)

-  

-  

-  

47

1,063

(96%)

5

106

(95%)

                           

Credit Life

 

7

4

75%

-  

-  

-  

7

4

75%

1

-  

-  

   

______

______

______

______

______

______

______

______

______

______

______

______

Total UK Insurance Operations

 

1,391

2,413

(42%)

62

67

(7%)

1,453

2,480

(41%)

201

308

(35%)

 

 

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

Channel Summary

                         
                           

Direct and Partnership

 

623

582

7%

54

55

(2%)

677

637

6%

116

113

3%

                           

Intermediated

 

664

764

(13%)

8

12

(33%)

672

776

(13%)

74

88

(16%)

                           

Wholesale

 

54

1,067

(95%)

-  

-  

-  

54

1,067

(95%)

5

107

(95%)

   

______

______

______

______

______

______

______

______

______

______

______

______

Sub-Total

 

1,341

2,413

(44%)

62

67

(7%)

1,403

2,480

(43%)

196

308

(36%)

                           

DWP Rebates

 

50

-  

-  

-  

-  

-  

50

-  

-  

5

-  

-  

   

______

______

______

______

______

______

______

______

______

______

______

______

Total UK Insurance Operations

 

1,391

2,413

(42%)

62

67

(7%)

1,453

2,480

(41%)

201

308

(35%)

 

 

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

US Insurance Operations

(1b) (8)

                       
                           

Fixed Annuities

 

583

506

15%

-  

-  

-  

583

506

15%

58

51

14%

                           

Fixed Index Annuities

 

184

121

52%

-  

-  

-  

184

121

52%

18

12

50%

                           

Variable Annuities

 

895

799

12%

-  

-  

-  

895

799

12%

90

80

13%

                           

Life

 

1

2

(50%)

6

7

(14%)

7

9

(22%)

6

7

(14%)

   

______

______

______

______

______

______

______

______

______

______

______

______

Sub-Total Retail

 

1,663

1,428

16%

6

7

(14%)

1,669

1,435

16%

172

150

15%

                           

Guaranteed Investment Contracts

 

42

310

(86%)

-  

-  

-  

42

310

(86%)

4

31

(87%)

                           

GIC - Medium Term Note

 

16

5

220%

-  

-  

-  

16

5

220%

2

1

100%

   

______

______

______

______

______

______

______

______

______

______

______

______

Total US Insurance Operations

 

1,721

1,743

(1%)

6

7

(14%)

1,727

1,750

(1%)

178

181

(2%)

   

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

Asian Insurance Operations

(1b) (8)

                       
                           

China

(10)

16

12

33%

9

8

13%

25

20

25%

11

9

22%

                           

Hong Kong

 

47

114

(59%)

41

35

17%

88

149

(41%)

46

46

0%

                           

India

(6)

7

13

(46%)

34

46

(26%)

41

59

(31%)

35

47

(26%)

                           

Indonesia

 

9

17

(47%)

46

40

15%

55

57

(4%)

47

42

12%

                           

Japan

 

21

26

(19%)

6

3

100%

27

29

(7%)

8

6

33%

                           

Korea

 

15

13

15%

35

58

(40%)

50

71

(30%)

37

59

(37%)

                           

Malaysia

 

6

8

(25%)

35

26

35%

41

34

21%

36

27

33%

                           

Singapore

 

35

30

17%

22

19

16%

57

49

16%

26

22

18%

                           

Taiwan

 

10

13

(23%)

70

35

100%

80

48

67%

71

36

97%

                           

Other

(4)

4

4

0%

14

11

27%

18

15

20%

14

11

27%

   

______

______

______

______

______

______

______

______

______

______

______

______

Total Asian Insurance Operations

 

170

250

(32%)

312

281

11%

482

531

(9%)

329

306

8%

   

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

   

______

______

______

______

______

______

______

______

______

______

______

______

Group Total

 

3,282

4,406

(26%)

380

355

7%

3,662

4,761

(23%)

708

796

(11%)

 

 

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

                           


INVESTMENT OPERATIONS

           

Market &

Net

 
 

Opening

     

Other

Currency

Movement

Closing

 

FUM

Gross Inflows

Redemptions

Net Inflows

Movements

Movements

In FUM

FUM

 

£m

£m

£m

£m

£m

£m

£m

£m

                     

M&G

(5)

Q4 2008

49,994

4,040

(4,775)

(735)

110

(2,372)

(2,997)

46,997 

                     
   

Q3 2008

51,699

4,623

(2,918)

1,705

-  

(3,410)

(1,705)

49,994 

                     
   

+/-(%)

(3%)

(13%)

(64%)

(143%)

-  

30%

(76%)

(6%)

                     

Asia Retail Mutual Funds

(15)

Q4 2008

13,594

12,529

(12,618)

(89)

(6)

944

849

14,443 

                     
   

Q3 2008

14,845

11,552

(12,213)

(661)

(23)

(567)

(1,251)

13,594 

                     
   

+/-(%)

(8%)

8%

(3%)

87%

74%

266%

168%

6%

                     

Asia Third Party

 

Q4 2008

755

16

(24)

(8)

-  

42

34

789 

                     
   

Q3 2008

841

17

(46)

(29)

-  

(57)

(86)

755 

                     
   

+/-(%)

(10%)

(6%)

48%

72%

-  

174%

140%

5%

                     

US Retail Mutual Funds

 

Q4 2008

58

4

(8)

(4)

2

(6)

(8)

50 

                     
   

Q3 2008

62

5

(9)

(4)

1

(1)

(4)

58 

                     
   

+/-(%)

(6%)

(20%)

11%

0%

100%

(500%)

(100%)

(14%)

                     

Total Investment Products

 

Q4 2008

64,401

16,589

(17,425)

(836)

106

(1,392)

(2,122)

62,279 

                     
   

Q3 2008

67,447

16,197

(15,186)

1,011

(22)

(4,035)

(3,046)

64,401 

                     
   

+/-(%)

(5%)

2%

(15%)

(183%)

582%

66%

30%

(3%)

                     


  

Schedule 5 - Constant Exchange Rates

PRUDENTIAL PLC - NEW BUSINESS - FULL YEAR 2008

TOTAL INSURANCE AND INVESTMENT NEW BUSINESS

                           
   

UK

 

US

   

Asia

 

Total

           

Note 1a

   

Note 1a

       
                           
 

Note

FY 2008

FY 2007

+/-(%)

FY 2008

FY 2007

+/-(%)

FY 2008

FY 2007

+/-(%)

FY 2008

FY 2007

+/-(%)

   

£m

£m

 

£m

£m

 

£m

£m

 

£m

£m

 
                           

Total Insurance Products

 

7,183

6,879

4%

6,941

7,063

(2%)

2,673

3,149

(15%)

16,797

17,091

(2%)

                           

Total Investment Products - Gross Inflows

(2)

16,154

14,745

10%

36

65

(45%)

46,957

40,875

15%

63,147

55,685

13%

                           
   

______

______

______

______

______

______

______

______

______

______

______

______

   

23,337

21,624

8%

6,977

7,128

(2%)

49,630

44,024

13%

79,944

72,776

10%

   

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

                           


INSURANCE OPERATIONS

                           
     

Single

   

Regular

   

Total

 

PVNBP

                           
   

FY 2008

FY 2007

+/-(%)

FY 2008

FY 2007

+/-(%)

FY 2008

FY 2007

+/-(%)

FY 2008

FY 2007

+/-(%)

   

£m

£m

 

£m

£m

 

£m

£m

 

£m

£m

 

UK Insurance Operations

                         
                           

Product Summary

                         
                           

Internal Vesting annuities

 

1,600

1,399

14%

-  

-  

-  

1,600

1,399

14%

1,600

1,399

14%

                           

Direct and Partnership Annuities

 

703

842

(17%)

-  

-  

-  

703

842

(17%)

703

842

(17%)

                           

Intermediated Annuities

 

497

555

(10%)

-  

-  

-  

497

555

(10%)

497

555

(10%)

   

______

______

______

______

______

______

______

______

______

______

______

______

Total Individual Annuities

 

2,800

2,796

0%

-  

-  

-  

2,800

2,796

0%

2,800

2,796

0%

                           

Equity Release

 

242

156

55%

-  

-  

-  

242

156

55%

242

156

55%

                           

Individual Pensions

 

115

38

203%

3

1

200%

118

39

203%

124

42

195%

                           

Corporate Pensions

 

221

283

(22%)

88

84

5%

309

367

(16%)

645

737

(12%)

                           

Unit Linked Bonds

 

109

243

(55%)

-  

-  

-  

109

243

(55%)

109

243

(55%)

                           

With-Profit Bonds

 

869

297

193%

-  

-  

-  

869

297

193%

869

297

193%

                           

Protection

 

-  

-  

-  

6

5

20%

6

5

20%

38

26

46%

                           

Offshore Products

 

551

434

27%

4

4

0%

555

438

27%

573

455

26%

                           

Pru Health

(12)

-  

-  

-  

16

13

23%

16

13

23%

146

107

36%

                           

Income Drawdown

(13)

75

34

121%

-  

-  

-  

75

34

121%

75

34

121%

   

______

______

______

______

______

______

______

______

______

______

______

______

Total Retail Retirement

 

4,982

4,281

16%

117

107

9%

5,099

4,388

16%

5,621

4,893

15%

   

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

                           

Corporate Pensions

 

227

198

15%

116

115

1%

343

313

10%

653

604

8%

                           

Other Products

 

132

190

(31%)

21

25

(16%)

153

215

(29%)

219

276

(21%)

                           

DWP Rebates

 

153

143

7%

-  

-  

-  

153

143

7%

153

143

7%

   

______

______

______

______

______

______

______

______

______

______

______

______

Total Mature Life and Pensions

 

512

531

(4%)

137

140

(2%)

649

671

(3%)

1,025

1,023

0%

   

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

   

______

______

______

______

______

______

______

______

______

______

______

______

Total Retail

 

5,494

4,812

14%

254

247

3%

5,748

5,059

14%

6,646

5,916

12%

   

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

                           

Wholesale Annuities

 

1,417

1,799

(21%)

-  

-  

-  

1,417

1,799

(21%)

1,417

1,799

(21%)

                           

Credit Life

 

18

21

(14%)

-  

-  

-  

18

21

(14%)

18

21

(14%)

   

______

______

______

______

______

______

______

______

______

______

______

______

Total UK Insurance Operations

 

6,929

6,632

4%

254

247

3%

7,183

6,879

4%

8,081

7,736

4%

   

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

Channel Summary

                         
                           

Direct and Partnership

 

2,352

2,385

(1%)

215

212

1%

2,567

2,597

(1%)

3,268

3,312

(1%)

                           

Intermediated

 

2,990

2,284

31%

39

35

11%

3,029

2,319

31%

3,227

2,460

31%

                           

Wholesale

 

1,434

1,820

(21%)

-  

-  

-  

1,434

1,820

(21%)

1,434

1,820

(21%)

   

______

______

______

______

______

______

______

______

______

______

______

______

Sub-Total

 

6,776

6,489

4%

254

247

3%

7,030

6,736

4%

7,929

7,592

4%

                           

DWP Rebates

 

153

143

7%

-  

-  

-  

153

143

7%

153

143

7%

   

______

______

______

______

______

______

______

______

______

______

______

______

Total UK Insurance Operations

 

6,929

6,632

4%

254

247

3%

7,183

6,879

4%

8,081

7,736

4%

   

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

US Insurance Operations

(1a)

                       
                           

Fixed Annuities

 

1,724

619

179%

-  

-  

-  

1,724

619

179%

1,724

619

179%

                           

Fixed Index Annuities

 

501

483

4%

-  

-  

-  

501

483

4%

501

483

4%

                           

Variable Annuities

 

3,491

4,922

(29%)

-  

-  

-  

3,491

4,922

(29%)

3,491

4,922

(29%)

                           

Life

 

7

8

(13%)

24

20

20%

31

28

11%

230

170

35%

   

______

______

______

______

______

______

______

______

______

______

______

______

Sub-Total Retail

 

5,723

6,032

(5%)

24

20

20%

5,747

6,052

(5%)

5,946

6,194

(4%)

                           

Guaranteed Investment Contracts

 

857

441

94%

-  

-  

-  

857

441

94%

857

441

94%

                           

GIC - Medium Term Note

 

337

570

(41%)

-  

-  

-  

337

570

(41%)

337

570

(41%)

   

______

______

______

______

______

______

______

______

______

______

______

______

Total US Insurance Operations

 

6,917

7,043

(2%)

24

20

20%

6,941

7,063

(2%)

7,140

7,205

(1%)

   

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

¯¯¯¯¯¯

Asian Insurance Operations

(1a)

                       
                           

China

(10)

63

53

19%

32

28

14%

95

81

17%

230

197

17%

                           

Hong Kong

 

507

543