Prudential Q3 New Business Profit Edges Up 1%

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LONDON (dpa-AFX) - Prudential plc (PRU.L), a UK-based insurance and asset management company, reported a 1% increase in third-quarter new business profit to $709 million from $705 million a year ago.

APE new business sales declined 7% to $1.596 billion, while the new business profit margin improved to 44% from 41% in the prior-year quarter.

For the first nine months, new business profit rose 7% to $2.093 billion, while APE sales were broadly unchanged at $5.026 billion. The new business profit margin increased to 42% from 39% a year earlier.

On the LSE, Prudential shares closed up 2.22% at 965.20p on Wednesday.

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