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Prudential PLC (PRU.L)

PRU.L on London Stock Exchange

1,895.00GBp
22 Nov 2017
Change (% chg)

-20.00 (-1.04%)
Prev Close
1,915.00
Open
1,915.00
Day's High
1,917.00
Day's Low
1,890.00
Volume
1,897,811
Avg. Vol
4,720,880
52-wk High
1,933.50
52-wk Low
1,519.98

Latest Key Developments (Source: Significant Developments)

Prudential CEO says no decision on UK annuity book yet; eyes U.S. M&A
Thursday, 16 Nov 2017 03:41am EST 

Nov 16 (Reuters) - Prudential :CEO Mike Wells says Asia 'in some ways ours to lose'; need to get better in health and protection..Says still looking at bolt-on U.S. deals, yet to see one at the right price..Says still looking at external options for UK annuity business, no decision yet..Says excess capital from sale of UK annuity book would be returned to shareholders..CFO Mark Fitzpatrick says Asia growth broad-based, high quality; UK asset management wholesale inflows at record 9-month level..Says confident can grow dividend by 5 percent a year, "even under stress"..  Full Article

Prudential says 9-mth ‍life insurance new business profit up 17 pct
Wednesday, 15 Nov 2017 11:12pm EST 

Nov 16 (Reuters) - Prudential Plc :‍NEW BUSINESS PROFIT INCREASED 15 PERCENT TO £1,616 MILLION IN FIRST NINE MONTHS​ IN ASIA .9-MONTH ‍LIFE INSURANCE NEW BUSINESS PROFIT INCREASED BY 17 PER CENT TO £2,469 MILLION​.  Full Article

M&G lends $683 mln to Lodha to develop prime London property
Tuesday, 10 Oct 2017 06:06am EDT 

Oct 10 (Reuters) - Prudential Plc :m&g investments says provides 517 million pounds ($682.49 million) stg loan to lodha uk to develop 1, grosvenor square, london.  Full Article

Prudential says Penny James to step down as group chief risk officer
Friday, 8 Sep 2017 04:32am EDT 

Sept 8 (Reuters) - PRUDENTIAL PLC ::‍PENNY JAMES TO STEP DOWN​.ANNOUNCES THAT PENNY JAMES IS STEPPING DOWN FROM HER ROLE AS GROUP CHIEF RISK OFFICER AND FROM BOARD ON 30 SEPTEMBER 2017.‍PENNY JAMES IS STEPPING DOWN FROM HER ROLE AS GROUP CHIEF RISK OFFICER AND FROM BOARD ON 30 SEPTEMBER 2017​.‍PAT CASEY, CURRENTLY CHIEF RISK AND COMPLIANCE OFFICER AT PRUDENTIAL UK & EUROPE, WILL TAKE UP ROLE OF GROUP CHIEF RISK OFFICER ON AN INTERIM BASIS​.‍PERMANENT REPLACEMENT FOR MS JAMES WILL BE ANNOUNCED IN DUE COURSE​.  Full Article

Direct Line brings on Prudential's CFO as new finance head
Friday, 8 Sep 2017 04:30am EDT 

Sept 8 (Reuters) - DIRECT LINE INSURANCE GROUP PLC ::‍PENNY JAMES TO SUCCEED JOHN REIZENSTEIN AS CFO OF DIRECT LINE GROUP​.‍PENNY JAMES WILL JOIN COMPANY AS CHIEF FINANCIAL OFFICER-DESIGNATE AND BOARD AS AN EXECUTIVE DIRECTOR ON 1 NOVEMBER 2017​.JAMES ‍WILL SUCCEED JOHN REIZENSTEIN AS CHIEF FINANCIAL OFFICER ON 1 MARCH 2018, ALL SUBJECT TO USUAL REGULATORY APPROVALS.  Full Article

Prudential announces sale of US broker-dealer network for $325 mln
Wednesday, 16 Aug 2017 02:00am EDT 

Aug 16 (Reuters) - Prudential Plc :Announces sale of US broker-dealer network for $325 mln to LPL Financial LLC, the largest independent broker-dealer in the US.Transaction is structured as an asset sale, which includes substantially all business of network, for an initial purchase price of us$325 million.Purchase price may increase to a maximum of approximately us$448 million subject to certain transition criteria.Transaction has closed after receiving all necessary regulatory approvals, transition expected to be completed by end of Q1 2018.  Full Article

Prudential CEO-looking at "external and internal options" for UK annuities book
Thursday, 10 Aug 2017 06:22am EDT 

Aug 10 (Reuters) - Prudential :Chief executive mike wells says looking at "external and internal options" for uk annuities book.Chief executive mike wells says m&g, prudential uk & europe will start working together from today.Chief executive mike wells says "we're not looking to get rid of the entire book of annuities".  Full Article

Prudential names John Foley as CEO of combined UK business
Thursday, 10 Aug 2017 04:31am EDT 

Aug 10 (Reuters) - Prudential Plc ::TO COMBINE ITS ASSET MANAGER, M&G, AND PRUDENTIAL UK & EUROPE (PRUDENTIAL UK&E) TO FORM M&G PRUDENTIAL.JOHN FOLEY, CURRENTLY CHIEF EXECUTIVE OF PRUDENTIAL UK&E, WILL BECOME CHIEF EXECUTIVE OF M&G PRUDENTIAL AND REMAINS A MEMBER OF PRUDENTIAL PLC BOARD.ANNE RICHARDS WILL REMAIN CHIEF EXECUTIVE OF M&G AND A MEMBER OF PRUDENTIAL PLC BOARD.ANNE RICHARDS AND CLARE BOUSFIELD, CEO INSURANCE FOR PRUDENTIAL UK&E, WILL BECOME DEPUTY CHIEF EXECUTIVES OF M&G PRUDENTIAL.SHAREHOLDERS ARE EXPECTED TO CONTRIBUTE £250 MILLION TOWARDS M&G PRUDENTIAL'S INVESTMENT, TO BENEFIT FROM COST SAVINGS OF £145 MILLION PER ANNUM BY 2022.  Full Article

Prudential combines M&G and UK & Europe divisions, H1 profit up 5 pct
Thursday, 10 Aug 2017 04:30am EDT 

Aug 10 (Reuters) - Prudential Plc :Prudential plc - hy17 results - business review.Group ifrs operating profit 1 of £2,358 million, up 5 per cent.Asia new business profit 5 of £1,092 million, up 18 per cent.Ifrs operating profit 1 of £953 million, up 16 per cent.Asia ifrs operating profit 1 of £953 million, up 16 per cent.Us life insurance ifrs operating profit 1 of £1,079 million, up 7 per cent.Uk life retail ape sales of £721 million, up 22 per cent.Prufund sales up 29 per cent to £564 million.m&g first half external asset management net inflows of £7.2 billion.m&g and prudential uk & europe to be combined to create a leading savings and investments provider.2017 first interim dividend of 14.50 pence per share, up 12 per cent.Combining m&g and prudential uk & europe will allow us to better leverage our considerable scale and capabilities.  Full Article

Britain's 'bad bank'UKAR reports 33 pct fall in FY underlying pretax profit
Tuesday, 4 Jul 2017 02:16am EDT 

July 4 (Reuters) - UK Asset Resolution Limited:Balance sheet reduced by a further 9 bln stg bringing the total reduction to 81.5 bln stg (70 pct) since formation of UKAR in 2010.Reflecting the 31 pct reduction in the year’s average balance sheet size, FY underlying profit before tax reduced by 33 pct to 706 mln stg.Overall, lending balances reduced by 45 pct in the year to 19.5 bln stg.Net government loan repayments of 3.3 bln stg, bringing total repayments to 23.7 bln stg since UKAR was formed.Mortgage accounts three or more months in arrears, including possessions, have reduced by 28 pct bringing the total reduction to 88 pct since formation.Due to the low margin on loans sold to prudential plc, the sale resulted in an accounting loss of 384.7 mln stg.  Full Article

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Prudential seeks larger slice of life in China as Asia drives profit

Prudential expects its Asian business to double in size every five to seven years, the British life insurer said after reporting the region drove a 17 percent rise in new business profit during the first nine months of 2017.