Prudential Group new business profit totalled £1.9bn for the first nine months of this year, mainly boosted by sales in Asia.
In Asia, new business profit was 23 per cent higher (34 per cent on an actual exchange rate basis).
However the UK life business also received a boost from “the continued popularity” of the with-profits product range, according to bosses.
In the first nine months of the year, new business profit from retail sales was 41 per cent higher, with APE sales from customers choosing the PruFund retail investment option increasing by 65 per cent.
As a result, PruFund assets under management rose to £22.8bn, 38 per cent higher than at the start of the year.
In the third quarter, M&G's retail asset management business benefitted from the positive effects of market appreciation and a reduction in the level of net outflows, totalling £1.1bn for the last quarter, compared with £4.1bn net outflows in the first quarter of this year.
External assets under management were £136.2bn at 30 September 2016, compared with £126.4bn at the end of 2015.
emma.hughes@ft.com
