Insurance giant Prudential reported 29 percent growth in new business profit in the first quarter of 2014 on Thursday, driven by continuing strength in Asia and the U.S.
New business profit hit £529 million ($897.3 million) up from £410 million the same time last year, with Asia posting a 20 percent rise and the U.S. growing 67 percent. The U.K. showed stellar growth for Prudential with a 90 percent rise in new business profit.
Prudential shares were up 2.4 percent on Thursday morning.
"The rise of Asia in our numbers Is inexorable," Prudential CEO Tidjane Thiam told CNBC in a TV interview.
"The good news of these results is that we are up 20 percent with Indonesia flat. And we have often said that we are not just a play on Indonesia and this proves it. Even without Indonesia the other businesses are big enough to carry us forward."