Prudential to spin off UK and European business in radical break-up


“The decision to demerge M&G Prudential follows a rigorous review by the board which considered all options, including the status quo, and concluded that it is in the best interest of the group to operate as two separately-listed companies, able to focus on their distinct strategic priorities in their chosen geographies,” Paul Manduca, Prudential’s chairman, said.

It came as Prudential announced the sale of a 12 billion-pound UK annuities book to Rothesay Life and posted annual results for 2017, which showed a 6 percent rise in operating profits to 4.7 billion pounds. That beat market expectations of 4.6 billion pounds.

2018-03-14 08:37:00

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