M&G PLC (LSE:MNG) reported a first half of positive inflows and a slight improvement in profits, saying it is "well positioned" to ride out current uncertainty.
The FTSE 100-listed life insurer reported £2.1 billion of net inflows from open business in the first half of 2025, a £3.2 billion improvement from outflows a year earlier.
Adjusted operating profit before tax increased to £378 million from £375 million, while swinging to a profit after tax of £248 million from a £56 million loss in the same period last year, reflecting improved investment returns under IFRS 17 accounting rules.
Operating capital generation was £408 million, down from £486 million, though the underlying result rose 11%.
The Solvency II coverage ratio strengthened to 230% from 223% at the end of 2024.
An interim dividend of 6.7p per share was declared, up from 6.6p.
"I am pleased with our progress over the first six months of the year," said CEO Andrea Rossi, calling it a "strong result" underpinned by the net inflows from external clients in the Asset Management division.
He pointed out that growth there has been supported by international expansion, with 58% of Asset Management third party assets now coming from international clients, up from 37% five years ago, particularly in Europe and with a growing presence in Asia.
A partnership with Japan's Dai-ichi Life is expected to generate at least $6 billion of new business flows over the next five years.
On the outlook, M&G said it is "well positioned to navigate the current uncertain economic and geopolitical environment due to its diversified business model, international footprint, compelling products and services, investment capabilities and expertise".