November 16, 2017 / 4:41 AM / in a year

Prudential's 9-month new-business profit rises

Nov 16 (Reuters) - British life insurer Prudential Plc reported higher new-business profit across is businesses for the first nine months of the year as it saw opportunities in its three key markets - Asia, United States and the UK and Europe.

New-business profit for the group rose 17 percent to 2.47 billion pounds ($3.25 billion) from a year ago, driven by higher sales and favourable economics, Prudential said on Thursday in a business performance update ahead of an investor day.

Prudential saw opportunities from the rapidly growing middle class in Asia, retirement needs of the baby boomers in the United States and the life assurance and savings markets in UK and Europe, Chief Executive Mike Wells said. ($1 = 0.7593 pounds) (Reporting by Noor Zainab Hussain in Bengaluru and Carolyn Cohn in London; Editing by Gopakumar Warrier)

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