Prudential (PRU) Decent results, but how much more to go for?
For the year to date new business profit was 13% ahead.
In the US, Prudential reported a surprisingly strong, to us, increase in variable annuity sales, up 37% in Q3 2012, with such new business likely to be restricted in Q4 2012 as the group is close to hitting its target for the year. As regards the new business margin, Prudential indicated that the reduction in 10 year T-bond yield and spread compression reduced new…
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