Prudential’s premiums could snatch $13b by 2026: Morningstar

Net earned premiums are projected to grow about 10% annually from $11.4b in 2025.

Prudential plc’s earnings outlook remains broadly stable despite lingering uncertainty tied to its Malaysia operations, according to Morningstar.

Morningstar expects Prudential’s net earned premiums to continue growing at about 10% a year through 2026, reaching $12.53b, up from $11.39b in 2025. 

Net income is forecast to rise to $2.43b in 2026, compared with $2.23b in 2025, supported by steady premium growth and stable investment income.

The analyst said Prudential’s decision to raise its ownership in Prudential Assurance Malaysia Berhad to 70% from 51% signals a long-term commitment to the market, following years of legal disputes with minority shareholder Detik Ria. 

Those disputes, which culminated in a Malaysian Federal Court ruling in 2024, had weighed on earnings and raised questions over the sustainability of the group’s Malaysia business.

Morningstar noted that whilst the legal risk has added to uncertainty, it does not expect the issue to derail Prudential’s broader earnings trajectory. 

Looking ahead, earnings per share are forecast to rise to $1.00 in 2026 from $0.88 in 2025, with further growth expected beyond that period.