Prudential posts smaller-than-expected H1 loss; lifts dividend
Prudential posts smaller-than-expected H1 loss

Prudential PLC, UK's leading insurer posted on Thursday smaller-than-expected fall in profit for the first-half of 2009, showing robust jump in US sales.

Prudential PLC registered 8% fall in operating profit to 1.25 billion pounds on European embedded value basis.

The group suffered a loss of 129 million pounds during H1 of the current year, much better from a loss of 355 million pounds in the same quarter of 2008.

According to CEO Mark Tucker, group's performance soared due to an improvement in its surplus capital to three billion pounds at the end of July from 1.5 billion pounds on Dec. 2008.

Prudential lifted the interim dividend to 6.29p a share. On the other hand, Prudential's rivals, including Aviva hacked their first half dividends.

Prudential shares jumped during early trading after the announcement of rise in dividends.

It was also informed that Mark Tucker is going to be replaced by group's CFO Tidjane Thiam on October 1.

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