Prudential reports 17% rise in life insurance new business profit

Prudential is in the process of demerging that will see the UK and European insurance and asset management units of the 170-year-old company split off into a separate company.
Prudential is in the process of demerging that will see the UK and European insurance and asset management units of the 170-year-old company split off into a separate company.PHOTO: PRUDENTIAL

BENGALURU (REUTERS) Prudential Plc, Britain's largest insurer, reported a 17 per cent rise in its life insurance new business profit for the first nine months of the year on Wednesday (Nov 14), driven by another robust performance in Asia.

The life insurer, which has a market value of around £42 billion (S$75.3 billion), is in the process of demerging that will see the UK and European insurance and asset management units of the 170-year-old company split off into a separate company.

The planned demerger of M&G Prudential was on track, Prudential said in a business performance update ahead of an investor day event in Singapore.