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Insurance company Prudential today announced a 25 per cent rise in annual profits.

Britain's largest insurer declared its total operating profit for last year as £2.54 billion, compared to £2.13 billion in 2006.

New business profit rose by 22 per cent to around £1.215 billion, with the company's margin remaining stable at 42 per cent.

New business profits in Asia for also increased, up 34 per cent at £635 million.

Mark Tucker, chief executive of the Prudential Group said today: "These outstanding results, with new business profit up 22 per cent to £1,215
million, demonstrate excellent and continued momentum in the successful delivery of the group's retirement led strategy. Group operating profit has doubled over the past three years.

"Each of our businesses is performing strongly representing a powerful geographic spread to our growth platform. Spectacular growth in Asia has been accompanied by a very strong performance by the US and clear profit growth in the UK.

"Combined with our excellent performance in asset management across the group, these results demonstrate the benefits of Prudential's diversified, international strategy," he said.

Mr Tucker claimed a combination of market presence and product capability meant that Prudential was "in a great position for continued value creation".

"Overall, the prospects for the group in 2008 remain positive. Over the longer-term the demographic, economic and social factors driving our business will continue and we are well positioned to capture a greater share of that growth," he concluded.