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Britain's Prudential to split in new world order for insurers

Reuters  |  LONDON 

By Ben Martin and Carolyn CohnLONDON (Reuters) - Prudential is to spin its British and European business off from its international operations, breaking up the 170-year-old insurer in the latest shake-up in a fast-changing industry.Insurers in Britain have been changing strategy to reduce exposure to capital-heavy products following the introduction of rigorous European solvency rules two years ago, while also seeking ways to deal with growing pressure on fees.Prudential said on Wednesday it is splitting off its savings and investment-focused business M&G Prudential, which will be ...

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First Published: Wed, March 14 2018. 14:53 IST