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Prudential to split in new world order for British insurers

Reuters  |  LONDON 

By Ben Martin, Carolyn Cohn and Simon JessopLONDON (Reuters) - Prudential is to spin off its British and European business from its international operations, breaking up the 170-year-old insurer to refocus on faster-growing markets in the sector's latest major shake-up.British insurers have been changing tack to cut their exposure to capital-intensive products following the introduction of rigorous European solvency rules, while also seeking ways to deal with growing fee pressure.Prudential said it is splitting off savings and investment-focused M&G Prudential, which will be based in London, ...

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First Published: Wed, March 14 2018. 19:26 IST
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