保诚(02378) - 2024 - 年度业绩

Financial Performance - New business profit increased by 11% to $3.078 billion, with traditional embedded value new business profit also growing by 11$3.129 billion, while adjusted profit after tax increased by 7% to $2.582 billion[7] - Total dividend for 2024 increased by 13$0.2313 per share, with total shareholder return for the year amounting to $1.4 billion[7] - Adjusted operating profit for 2024 reached$3,129 million, an 8% increase year-on-year, while adjusted net operating profit after tax was $2,582 million, reflecting a 5$2.582 billion, a 7% increase from 2023[40] - The total profit from insurance business is $3.419 billion, showing a 6$2.582 billion, a 5% increase from $2.449 billion in the previous year[84] - The total adjusted contract service margin as of December 31, 2024, was$19.2 billion, leading to an adjusted total equity of $36.7 billion, equivalent to$13.79 per share[76] Shareholder Returns - The company plans to complete a $2 billion share buyback program by the end of 2025, ahead of the original schedule[7] - A$2 billion share buyback program was announced, with $785 million already returned to shareholders by December 31, 2024[68] - The total shareholder return for 2024 included dividends of$552 million and share buybacks of $785 million[109] - The estimated excess shareholder surplus over the group's capital requirements was$15.9 billion as of December 31, 2024, with a coverage ratio of 280%[41] Operational Efficiency - The company aims to enhance operational efficiency and meet customer needs through improved claims management and modernized IT infrastructure[6] - The company plans to complete the deployment of its digital service platform PRUServices across seven business units by the end of Q1 2025[9] - The company has enhanced the functionality and consistency of its digital service platform PRUServices, with deployment expected to be completed by the end of Q1 2025 across seven business units[37] - The company aims to increase new business profit from the bank insurance channel by 1.5 to 2 times by 2027, leveraging over 200 banking partners[53] Market Growth and Strategy - The Asian and African markets show clear long-term growth trends, creating significant opportunities for the company[6] - New business profit in banking and insurance increased by 31%, with health and protection products contributing 8% to annual premium equivalent sales[9] - The company is evaluating the potential listing of ICICI Prudential Asset Management Company Limited, which may involve a partial divestment of its stake[7] - The company has established a new partnership with Indonesia's largest Islamic bank, BSI, to expand its distribution network[37] Customer Engagement and Satisfaction - The company achieved a customer net promoter score in the top quartile across five markets, indicating high customer satisfaction[9] - Customer retention rate improved by 1 percentage point to 87% in 2024, with five business units reaching the first quartile in customer net promoter scores[44] - The company launched a health protection plan tailored for mainland Chinese travelers in July 2024, providing comprehensive lifelong coverage through partnerships with over 1,500 healthcare providers in mainland China[60] Risk Management - The company warns of various risks and uncertainties that may affect future financial performance, including geopolitical tensions and regulatory changes[28] - The group faces market risks from interest rates, equity prices, property prices, credit spreads, and currency fluctuations, with a moderate inflation risk primarily from rising medical supply costs[200] - The group maintains capital requirements to ensure sufficient capital above internal and regulatory economic capital requirements, aiming for an ideal credit rating[199] - The group has established procedures for employees to report unethical behavior and violations anonymously[187] Investment and Capital Management - The company plans to invest approximately $1 billion in core capabilities, focusing on customer, distribution, health business, and technology areas[107] - The group anticipates achieving a compound annual growth rate of 15$4.4 billion by 2027[74] - The company aims for a risk-adjusted internal rate of return exceeding 25% on new business investments, with a payback period of less than four years[105] Regional Performance - New business profit from health operations reached $346 million in 2024, marking an 11$1.438 billion, reflecting a 2% increase from $1.411 billion in 2023[127] - In Indonesia, annualized premium equivalent sales decreased by 5$262 million, while new business profit increased by 2% to $145 million[133] - In Singapore, annual premium equivalent sales for 2024 reached$870 million, an 11% increase from $787 million in 2023[153] Technology and Innovation - Investment in technology has improved the detection and recovery rates of fraud, waste, and abuse, with a pilot program in Malaysia and Singapore showing a doubling of claims processing automation rates[62] - The company plans to replicate the AI chatbot capabilities, which validated 98% of leads in the Philippines, to Hong Kong, Malaysia, and Vietnam by 2025[54] Corporate Governance - The board expresses confidence in the group's strategy and plans to review investments in new business opportunities and capabilities[113] - The group has established a self-risk and solvency assessment process to identify, measure, manage, and report risks, ensuring capital adequacy at all times[188]