Prudential plans to split its business

Prudential has announced the restructuring of its activities into two entities. Life insurance will remain in the United Kingdom and the European asset management will be entrusted to a new entity called M & G Prudential.

The already existing company will focus on the group's international business in Asia, Africa and the United States.

To do this, the British insurer has announced the sale of a 12 billion GBP-pension management portfolio (16.8 billion USD) to the Rothesay Life group. The resources generated by the transaction will be used to finance the spin-off of the company.

No specific schedule has been announced. The operation should nevertheless be completed by the end of 2019.

Read also:

• Prudential split into two entities by the end of 2019