May 18, 2017 / 8:57 AM / 8 months ago

Prudential Q1 new business profit rises, Asia head steps down

LONDON, May 18 (Reuters) - British insurer Prudential reported a 25 percent rise in first-quarter new business profit on Thursday, driven by growth in Asia, and said the firm’s Asia head was stepping down.

Group new business profit rose to 856 million pounds ($1.12 billion), Prudential said in a statement ahead of its annual general meeting later on Thursday.

Prudential’s Asia head Tony Wilkey is stepping down to pursue new challenges, Prudential said, to be replaced by the firm’s chief financial officer, Nic Nicandrou.

Prudential has appointed Mark FitzPatrick, currently a managing partner at consulting firm Deloitte, as chief financial officer. ($1 = 0.7671 pounds) (Reporting by Carolyn Cohn; editing by Simon Jessop)

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