0902 GMT - Prudential PLC's results confirm the group's value on a price-to-book basis but also show that it has more work to do to convince investors that new business value growth is compelling, Keefe, Bruyette & Woods says in a research note after the insurance and investment company's 2024 print. New business met consensus for the year after an underwhelming end of the period as it saw a steeper-than-expected slowdown in China, analyst William Hawkins writes. He adds that a lot hangs on its guidance of more than 10% new business profit growth for 2025. Elsewhere, he notes that the dividend beat and the solvency and liquidity figures generally confirm that these aren't binding constraints to growth or the capital management outlook. Shares in London rise 1.3% to 784 pence. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
March 20, 2025 05:02 ET (09:02 GMT)
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