Prudential to cease its activities in USA

The British insurer Prudential plans to sell the entirety of its 4.5 billion USD business in the United States. The group intends to focus exclusively on high-growth markets in Asia and Africa.

Prudential, who expressed their willingness to downsize, announced in July the sale of 11% of the capital of its American subsidiary Jackson to Athene for 500 million USD.

These cost-cutting measures come at a time when the group’s half-yearly results were heavily impacted by the pandemic and by lower interest rates. The insurer's net profit was nearly divided by four as it was set at 534 million USD by late June 2020.

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