Asian growth boosts Prudential

Asia remained the star performer, adding over one million new customers during the year and is now the largest cash contributor to the group boosting remittances by two-thirds to £341m. And the region's operating profits of £988m, up from £784m in 2011, means that plans to double Asia's 2009 IFRS operating profit of £465m to £930m by the end of 2013 have been reached a year early.

In the US, Prudential's Jackson operation boosted long-term operating profits by 48 per cent to £964m as significant net fund inflows boosted fee income. But, while annual premium equivalent sales were up 15 per cent, new business profits grew by 7 per cent, reflecting the squeeze on profits caused by low interest rates. In the UK, despite a squeeze on disposable income and major regulatory changes, sales of with-profits and individual annuities each rose by 30 per cent, and new business profits rose by 20 per cent to £313m.