Prudential Hong Kong Limited posted continued growth in the first half of 2025 (H1 2025), with both new business profit (NBP) and annualised premium equivalent (APE) sales rising by double digits.
APE reached US$1.09 billion, up 13% from the prior year, while NBP climbed 16%.
The Hong Kong unit contributed 42% of Prudential plc’s total NBP, making it the group’s largest market.
Business from both local policyholders and visitors from Mainland China increased, with gains of 17% and 15%, respectively.
Distribution activity was also strong. Bancassurance NBP grew 28% through its partnership with Standard Chartered Bank, while the agency force recorded a 15% uplift.
More than 2,600 financial consultants were added in the first half of the year, strengthening the company’s sales capacity.
Prudential Hong Kong CEO Lawrence Lam (pictured) said demand in the market reflected a wide range of needs.
“The Hong Kong insurance industry remains resilience and dynamic in 2025, driven by strong demand for holistic financial well-being, from immediate health and protection needs to long-term goals such as retirement savings and legacy planning,” he said.
He added that expanding the agency team and broadening bank distribution enable the company to provide customers easier access to tailored offerings.
“As we move forward, we remain focused on enhancing customer experience, investing in digital innovation, enhancing engagement at every touchpoint, and equipping our distribution teams with the tools and insights to deliver smarter, faster, and more meaningful value in a dynamic market,” Lam said.
In the first six months, the insurer launched the Prudential Entrust Multi-Currency Plan, which incorporates features similar to a trust structure aimed at long-term wealth transfer and savings.
A related initiative, PruNextGen, was also introduced to provide educational and wellness services through institutional partnerships.
Prudential expanded its healthcare partnerships as well. It extended its collaboration with Hong Kong Baptist Hospital to a new facility in East Kowloon, became the first Hong Kong insurer to partner directly with Foshan Fosun Chancheng Hospital in Mainland China, and processed its first claims related to Histotripsy treatment.
On the digital front, the firm teamed with startup Fill Easy to roll out an identity verification tool using near-field communication, designed to improve onboarding efficiency.
At group level, Prudential plc reported new business profit of US$1.26 billion, up 12% on a traditional embedded value basis, for the six months ending June 30.
Operating free surplus from insurance and asset management increased 14% to US$1.56 billion.
Adjusted operating profit before tax rose 6% to US$1.64 billion, while after-tax profit was US$1.37 billion, a 7% rise.
Adjusted operating earnings per share stood at 49.3 cents, 12% higher than the year before.
