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Insurance firm Prudential posts 1% rise in third-quarter new business profit

By Reuters News

Nov 5 (Reuters) - Asia-focused insurer Prudential PRU.L reported a 1% rise in third-quarter new business profit on Thursday, as repricing actions in Hong Kong lifted margins and helped offset a slowdown in its mainland China business.

The London and Hong Kong listed insurer's new business profit, reflecting the lifetime profits expected from policies sold, rose to $709 million from $702 million a year earlier. The figure was calculated on a traditional embedded value and constant exchange rate basis.

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