Prudential (PRU)

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Share Price:
1,014.00p
Market Cap:
£25,359m
Change Today:
2.00p
Sector:
Insurance

Prudential, HSBC tank as China widens insurance taxes

By Michele Maatouk

Date: Wednesday 05 Aug 2026

LONDON (ShareCast) - (Sharecast News) - Asia-focused Prudential and HSBC tumbled on Wednesday following a report that Chinese mainland tax authorities have started levying personal income tax on the returns of offshore insurance policies.
Tax lawyers and insurance insiders told Caixin that early enforcement cases in Beijing and Hangzhou show authorities applying a 20% tax rate to returns from Hong Kong policies. The levies target dividend payouts and interest earned on prepaid premiums.

At 1250 BST, Prudential was down 9.7% at 988.40p, HSBC was 6.1% lower at 1,487.40 and Standard Chartered was 4.8% weaker at 2,141.00p.

HSBC was already under pressure earlier in the session, hit by rating downgrades by Shore Capital and Citi.

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Prudential Market Data

Currency UK Pounds
Price 1,014.00p
Change Today 2.00p
52 Week High 1,220.00p
52 Week Low 916.00p
Volume 1,884,206
Shares Issued 2,500.85m
Market Cap £25,359m

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