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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Prudential    PRU   GB0007099541

PRUDENTIAL (PRU)
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Delayed Quote. Delayed  - 06/19 05:35:09 pm
1823.5 GBp   -0.22%
06/15PRUDENTIAL : Changes in issued share capital
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06/12PRUDENTIAL : Publication of a Prospectus
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Prudential : to Demerge M&G Prudential

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03/14/2018 | 08:55am CEST

By Oliver Griffin

Prudential PLC (PRU.LN) said Wednesday that it will demerge M&G Prudential, which also intends to sell its 12 billion pounds ($16.71 billion) U.K. annuity portfolio, to Rothesay Life.

The international financial services group said that following the demerger, M&G Prudential will be an independent U.K. and Europe savings and investment provider. Prudential PLC will continue to focus on high-growth opportunities in Asia, the U.S. and Africa, the company said.

M&G Prudential will be led by its current Chief Executive John Foley and remains on track to deliver its previously announced savings target, Prudential said. The decision to sell its U.K. annuity portfolio to Rothesay Life is part of M&G Prudential's move toward a more capital efficient and derisked business model, the company said.

Prudential PLC reported that operating profit in 2017 rose 10% to GBP4.7 billion, from GBP4.26 billion in the year-earlier period. The insurance company also said that gross premiums in 2017 rose 13% to GBP44 billion, while assets under management at M&G Prudential rose 13% to GBP351 billion, driven by record net inflows.

The group's Solvency II surplus--a measure of financial stability--rose to GBP13.3 billion, from GBP12.5 billion in 2016.

Prudential raised its final dividend to 32.5 pence a share, from 30.57 pence in 2016, taking the total dividend for the year to 47 pence, an 8% increase on the previous year.

Write to Oliver Griffin at [email protected]

Stocks mentioned in the article
ChangeLast1st jan.
PRUDENTIAL PLC -0.67% 193.9 End-of-day quote.-2.07%
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Financials ( GBP)
Sales 2018 44 665 M
EBIT 2018 4 434 M
Net income 2018 3 689 M
Debt 2018 -
Yield 2018 2,73%
P/E ratio 2018 12,77
P/E ratio 2019 11,55
Capi. / Sales 2018 1,07x
Capi. / Sales 2019 1,00x
Capitalization 47 625 M
Chart PRUDENTIAL
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Prudential Technical Analysis Chart | PRU | GB0007099541 | 4-Traders
Technical analysis trends PRUDENTIAL
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 22,0  GBP
Spread / Average Target 20%
EPS Revisions
Managers
NameTitle
Michael Andrew Wells Group Chief Executive Officer & Executive Director
Paul Victor Falzon Sant Manduca Chairman
Mark FitzPatrick Chief Financial Officer & Executive Director
Barry Lee Stowe Executive Director & CEO-North American Business
Nicolaos Andreas Nicandrou Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
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METLIFE-8.41%47 076
PRUDENTIAL FINANCIAL-14.28%41 395
MANULIFE FINANCIAL CORP.-4.96%37 362
AFLAC4.24%35 418