Prudential’s results on 15 March will be the first chance for investors to hear new chief executive Anil Wadhwani’s plans for the UK-based life insurer.
Given that the Pru trumpeted the fact that, with Wadhwani’s appointment, it has now completed the move of its entire senior management team to Asia, whether he sees the business still needing a presence and listing in the UK will be one point of interest.
All of its income now comes from Asia and Africa and with the trend of companies deciding to shift listings away from London, The Pru might seem an obvious candidate to head nearer its sources of revenue.
The life insurer posted adjusted operating profits of US$1.66bn for the half year, up from US$1.57bn in the same period last year, with UBS looking for something similar in the second half.
The Swiss broker adds second-half sales growth should hit 5% year-on-year, while its questions for the new chief executive include topics such as inorganic growth (ie M&A), excess capital, inward investment plans and the impact of IFRS 17 on earnings.
Buy with a price target of 1,575p is UBS’s view.