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Prudential PLC (PRU.L)

PRU.L on London Stock Exchange

1,687.00GBp
12:03pm EDT
Change (% chg)

-21.00 (-1.23%)
Prev Close
1,708.00
Open
1,681.50
Day's High
1,694.00
Day's Low
1,677.50
Volume
4,839,931
Avg. Vol
5,192,954
52-wk High
1,801.50
52-wk Low
1,096.00

Latest Key Developments (Source: Significant Developments)

Moody's says UK insurers' asset management firms set to capitalize on pensions expertise
Wednesday, 22 Mar 2017 02:21am EDT 

Moody's: UK insurers' asset management firms set to capitalize on pensions expertise . Higher dependence on asset management revenues will increase UK insurers' exposure to tough conditions in the asset management industry, . Believes insurers and fund managers in UK are increasingly competing for same pool of assets and leading to cost convergence in some cases Source http://bit.ly/2nI0dft ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

Prudential CEO-no need for M&G, Eastspring to acquire asset managers
Tuesday, 14 Mar 2017 06:00am EDT 

Prudential : Chief executive mike wells says doesn't see need for m&g, eastspring to acquire other asset managers . Chief financial officer nic nicandrou says uk 33 billion pound annuities back book is significant contributor to uk profits . Chief financial officer nic nicandrou says profitability of uk life business should increase steadily . Chief executive mike wells says very pleased with early signs and direction on u.s. Dol rule Further company coverage: [PRU.L] ((carolyn.cohn@thomsonreuters.com;)).  Full Article

Prudential says Ann Godbehere to retire from board at AGM
Thursday, 23 Feb 2017 06:12am EST 

Prudential Plc : Ann Godbehere will retire from board at conclusion of annual general meeting on 18 May 2017. . Ann Godbehere has been a non-executive director since august 2007, chairman of audit committee since October 2009 .David Law, a non-executive director since September 2015, will succeed Godbehere as chairman of audit committee.  Full Article

Farmland Partners, Prudential announce termination of management agreement
Tuesday, 21 Feb 2017 09:13am EST 

Farmland Partners Inc : Farmland Partners Inc and prudential announce termination of management agreement .Farmland Partners - FPI and prudential will work through march 31, 2017 to transition all management activities at which time agreements will terminate.  Full Article

Prudential bidding 3 bln pounds of 12.5 bln pounds of Bradford & Bingley mortgages sold by UK government- FT
Tuesday, 14 Feb 2017 10:29pm EST 

: Prudential bidding for about 3 billion STG of 12.5 billion STG of Bradford & Bingley mortgages being sold by UK government - FT .Groups due to submit offers for Bradford & Bingley mortgages include PIMCO, Och-Ziff, Carval and Elliott, Blackstone, Cerberus and Paragon Bank -FT.  Full Article

Hiscox appoints Louise Dennett as group finance director
Monday, 13 Feb 2017 07:03am EST 

Hiscox Ltd : Announced appointment of Louise Dennett to newly-created role of director of finance change for group . Dennett joins Hiscox from Prudential Plc, where she has held a number of senior roles over past 26 years .At Hiscox, Dennett will report to Hiscox Group Chief Financial Officer Aki Hussain and will be based in group's London office.  Full Article

Prudential CEO still interested in "bolt-on" U.S. acquisitions
Wednesday, 16 Nov 2016 12:27pm EST 

Prudential investor day : Ceo mike wells says still interested in "bolt-on" acquisitions in united states . Cfo nic nicandrou says in an ideal world, would drop solvency ii capital rules Further company coverage: [PRU.L] ((carolyn.cohn@thomsonreuters.com;)).  Full Article

Prudential CEO sees 'significant' growth opportunities across business
Wednesday, 16 Nov 2016 04:52am EST 

Prudential : CEO Wells says sees "significant" growth opportunities across Asia, Europe, U.S. . CFO Nicandrou says Solvency II surplus at end-Oct 11.5 billion pounds, ratio 189 percent. . CFO says product and pricing changes have more than offset rate moves. . CFO says Indonesia sales still "relatively subdued". . CFO says U.S. annuity market still "disrupted" following Dept. of Labor ruling. . CFO says U.S. DoL ruling is "not an earnings event". . CFO says asset management unit has seen encouraging Q3 flows; external assets buoyed by market gains. . CFO says Eastspring seeing "small drift away" from higher fee business. . Asia head Tony Wilkey says on track to achieve 2017 objectives; onboarding 5,000 new customers a day. .Asia CEO Lilian Ng says seeing "robust demand" for insurance in Hong Kong..  Full Article

Prudential H1 operating profit rises 6 pct
Wednesday, 10 Aug 2016 04:38am EDT 

Prudential Plc : Prudential plc - hy16 results - business review . M&G H1 underlying operating profit 225 million stg . Group H1 operating profit 2.059 billion stg . Excluding uk bulk annuities from 2015 comparative results as prudential has withdrawn from this market. . Says macro-economic context looks certain to be challenging and unpredictable in short term . Uk operating profit 384 million stg . Says m&g cost-income ratio up 1 percentage point to 52 per cent . Us pre-tax operating profit 888 million stg . H1 profit after tax fell 54 percent to 687 million stg . H1 operating profit 2.059 billion stg . Ceo says well placed to capitalise on positive structural trends and remain distinctive in our ability to deliver both growth and cash . Says group solvency ii capital surplus £9.1bn down 6% . Says m&g, as expected has continued to experience significant net outflows in first half . Says m&g reported ifrs operating profit of £225 million reflecting impact of these outflows partially offset by lower costs . Life ape new business sales £3,030 million . Us operating profit 694 million stg . Asia pre-tax operating profit 682 million stg .Uk pre-tax operating profit 473 million stg.  Full Article

Prudential says Brexit could hurt co's UK domiciled operations
Wednesday, 10 Aug 2016 04:30am EDT 

Prudential Plc : The group has several UK domiciled operations, including prudential UK and M&G, and these may be impacted by a UK withdrawal from the EU . Increased volatility may create potential for a general downturn in economic activity and for further or prolonged interest rate reductions in some jurisdictions due to monetary easing and investor sentiment . Demand for insurance products may also be adversely affected . If sustained, this environment is likely to have a negative impact on insurance sector over time and may consequently have a negative impact on Prudential's business and its balance sheet and profitability . Ongoing uncertainty of when UK will leave EU and possibility of a lengthy period before negotiations are concluded may increase volatility in markets where group operates . Insurers may experience an elevated incidence of claims, lapses, or surrenders of policies, and some policyholders may choose to defer or stop paying insurance premiums .There may be a higher incidence of counterparty failures.  Full Article

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