As the UK takes its first formal step toward leaving the European Union, UK insurance giant Prudential says its research found that financial advisers view ‘Brexit’ as one of the biggest investment planning challenges they face.
Prudential’s new business sales of life products rose by 19% to £6.3bn ($7.7bn, €7.2bn) with strong growth in Asia and the UK offsetting a decline in the US market.
Former Prudential group chief executive Mark Tucker is to succeed Douglas Flint as the next chairman of HSBC after a long-running search to fill the role.
UK insurance giant Prudential said it will begin offering clients advice on the increasingly contentious area of defined benefit (DB) pension transfers.
Prudential has kicked off a review of its £45bn ($57.2bn, €53.6bn) pension liabilities business in a move that could see the break up of its UK, US and Asian operations.
Address: Montague House, Adelaide Rd, Dublin 2, Ireland Advisers tel: +44 (0)808 234 2200 Non-UK advisers fax: +44 (0)808 234 0000 Website UK: www.pruadviser.co.uk Website non-UK: www.prudential-international.com
The Financial Stability Board has named Aegon, Aviva, and Axa among nine global insurance firms identified as systemically important financial institutions (SIFI).
Prudential reported a 19% increase in new business profit for the first nine months of the year, driven mainly by a strong performance at its Asian life business.
At an average fee of around £157 ($195, €179) an hour, a large proportion of UK advisers are having to work longer hours to keep up with demand, according to a new survey by insurance giant Prudential.
Prudential has agreed to sell its life insurance subsidiary in Korea to Mirae Asset Life Insurance for KRW170bn (£119m, $148m, €134m).
Prudential has nabbed its new chief executive of insurance from Aegon, leaving the Dutch insurer to appoint a new chief financial officer. Deutsche Bank has appointed a global head for its alternative funds business.
Prudential’s tax industry stalwart Gerry Brown has announced he will retire at the end of the month following a 40-year career in offshore financial services.
