Prudential Business Profit Gains, Adds $1.2 Billion Buyback

Prudential Plc’s new business profit rose, thanks to growth in Hong Kong and China markets, as the insurer said it will buy back an additional $1.2 billion in its own stock.

New business profit climbed 13% to $2.78 billion on an actual exchange rate basis in the 12 months to Dec. 31, according to a statement Wednesday. That compared with the $2.76 billion average estimate by three analysts compiled by Bloomberg.