- Prudential's embedded value fell almost $7bn due to higher interest rates.
- Embedded value is a controversial metric in insurance.
- New business profits at Prudential fell 14%.
- Valuation metrics show Prudential shares trading at a smaller premium than AIA.
- Cash remitted from divisions to Prudential dropped by about $150mn to $1.3bn in 2022.
Insurers/Prudential: smoke, mirrors and embedded values
Interest rates take a heavy toll on results day
