Prudential today announced a 25 per cent rise in annual profit amid growth in Asia where it expects to double the value of new business in 2008.
Total operating profit came in at £2.54 billion ($5.17 billion) on a European embedded value basis. That compares with £2.13 billion for 2006, restated to exclude loss-making Internet bank Egg, sold to Citigroup in early 2007.
Asia accounts for almost half the British insurer's profit, and analysts and investors are watching for signs of contagion from a US slowdown.
However, Britain's largest insurer by market value said it remained confident, with Asian margins expected to stay at current levels despite wider market turmoil.
Prudential's shares, which have outperformed the sector but still languished in 2008, jumped in early trade, lifted by Asia and the absence of surprise write-downs on risky assets that have battered the financial sector.
But the shares later pared the gains to trade up 0.5 per cent at 657.5 pence by 10.15am.