Life and health insurer Prudential (PRU) has announced it will buy back $1.2 billion worth of shares over the course of 2026.
The buyback comprises $500 million of recurring capital returns and $700 million from the successful IPO of ICICI Prudential Asset Management (IPAMC).
| Price: £12.00 +1.7% | P/E: 12.5x |
| Market Cap: £30.3bn | Yield: 1.5% |
Our View
Prudential, or ‘The Pru’ as it used to be known, is a very different beast these days with no UK operations but a huge presence in Greater China, the ASEAN trading area, Africa and India.
The buyback is the second part of a total planned capital return of more than $5 billion over the period from 2024 to 2027, after the group repurchased $2 billion of shares last year.
Chief executive Anil Wadwhani was keen to stress the capital return was part of a larger plan and not because the firm can’t find growth opportunities.
Read the press release here: https://www.prudentialplc.com/en/investors/overview
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