Prudential Management Discusses H1 2012 Results - Earnings Call Transcript

Prudential (PUK)

H1 2012 Earnings Call

August 10, 2012 7:00 am ET

Executives

Cheick Tidjane Thiam - Group Chief Executive and Executive Director

Nicolaos Andreas Nicandrou - Chief Financial Officer and Executive Director

David Collins

Barry Lee Stowe - Executive Director and Chief Executive Officer of Prudential Corporation Asia

Michael Andrew Wells - Vice Chairman, Chief Executive Officer and President

Paul Chadwick Myers - Senior Vice President of Asset & Liability Management

Analysts

Jon Hocking - Morgan Stanley, Research Division

Kevin Ryan - Investec Securities (UK), Research Division

Nick Holmes - Nomura Securities Co. Ltd., Research Division

Greig N. Paterson - Keefe, Bruyette, & Woods, Inc., Research Division

Andrew Hughes - Exane BNP Paribas, Research Division

Ashik Musaddi - JP Morgan Chase & Co, Research Division

James Pearce - UBS Investment Bank, Research Division

Presentation

Cheick Tidjane Thiam

Good morning and welcome to our Half Year 2012 Results Presentation. And I'll start -- since I specialize in bad jokes, I'm going to start with my Olympics joke, which is that, "Thank god, there's only 3 million Jamaicans." I checked, it's at least 2.9 million, 2,889,000. Can you imagine what it would be if there were more of them? But anyways, it's great.

So Prudential has produced a strong performance during the last 6 months and is on track to deliver on our 2013 "Growth and Cash" objectives, which we set ourselves at our first investor seminar in 2010. I would like to begin by setting the agenda of this meeting. We will follow the usual format. I will start with the highlights of our results for the first half and will comment on a few key aspects of our strategy, with a focus on Asia. I will hand it over to Nic, who will cover our financial performance in more detail, and I'll come back again to talk about our outlook for the rest of the year, and we will then take your questions. Members of our executive team from across the world are dialed into this results presentation. Barry is on the phone. And collectively, we will try to answer any questions that you may have.

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