Prudential H1 2026 profit sinks 27% to $995m

New business earnings advanced 8% year on year to $1.4b.

Prudential plc’s six months to June 2026 (H1 2026) IFRS profit after tax fell 27% year-on-year (YoY) to $995m.

New business profit increased by 8% YoY to $1.4b, whilst basic earnings per share dipped 23% YoY to 37.9 US cents in H1 2026.

The insurer’s operating free surplus generated from in-force insurance and asset management business rose 15% YoY to $1.791b in H1 2026.

Adjusted operating profit before tax increased 9% YoY to $1.812b, whilst adjusted operating profit after tax rose 10% YoY to $1.523b.

Adjusted earnings per share increased 17% YoY to 58.4 US cents in H1 2026.
Prudential’s group total embedded value equity stood at $39.1b at 30 June, up from $37.8b at the end of 2025 on an actual exchange rate basis. 

This represented 1,557 US cents per share and an operating return on embedded value of 15%.

The insurer said it continued to invest in its Asian businesses, including increasing its ownership of its Malaysia life business to 70%.

In India, it agreed to acquire a 75% stake in Bharti Life and is separately launching a standalone health business, which is due to begin operations in the third quarter of 2026.

The company also increased its planned 2026 share buyback by about $300m to the previously announced $1.2b. Total capital returns to shareholders reached $1b in the first half.

Prudential raised its first interim dividend by 15% to 8.88 US cents per share, from 7.71 US cents a year earlier on an actual exchange rate basis.

CEO Anil Wadhwani said the insurer remained focused on profitable growth whilst investing in technology, operations and artificial intelligence to improve customer engagement, service and efficiency.

Prudential maintained its full-year 2026 guidance for double-digit growth in new business profit, gross operating free surplus generated and adjusted earnings per share, as well as double-digit growth in dividend per share. It also reiterated its 2027 financial objectives.