Prudential sees upbeat outlook as productivity and sales rise

Jefferies attributed the stronger results to improved agent hiring and training.

Prudential is expected to maintain strong growth momentum in the coming quarters, supported by higher agent productivity and rising new business volumes across Asia, according to a report by Jefferies Equity Research.

Jefferies noted that Prudential’s new business profit (NBP) grew 13% at constant exchange rates in the third quarter of 2025, beating management’s guidance of more than 10% and slightly exceeding market expectations. 

The result also marked an acceleration from the 12% growth reported in the first half of the year.

Jefferies attributed the stronger results to Prudential’s ongoing productivity initiatives, particularly its PruVenture programme, which focuses on recruiting and developing higher-quality agents. 

The company is also expanding successful productivity measures from its Mainland China operations to Southeast Asian markets.

The research firm said Prudential’s near-term outlook remains positive, supported by solid productivity gains, rising sales volumes, and potential capital releases from the expected initial public offering of ICICI Prudential Asset Management, which could pave the way for further share buybacks.

Jefferies acknowledged some investor concerns over the recent resignation of Regional CEO John Cai but said the company’s latest results suggest that its productivity and growth initiatives are delivering sustainable progress across its Asian markets.