Prudential announced this morning that it will demerge M&G Prudential from the group, along with the partial sale of its UK annuity portfolio for £12bn. Insurer Prudential saw its shares rose by more than 4% after it said it will separate M&G Prudential from the rest of the group, and sell part of its UK annuity portfolio for £12bn ($ 16.7bn ). Prudential CEO Mike Wells said the split would allow M&G Prudential to focus on US and European savings and retirement markets, while Prudential would concentrate on its business in the UK and Asia - which recorded double-digit growth in 2017 . Hargreaves Lansdown , equity analyst at Mike Wells , praised the decision, but said it was a shame shareholders would not profit from the sale proceeds.
Insurer Prudential saw its shares rose by more than 4% after it said it will separate M&G Prudential from the rest of the group, and sell part of its UK annuity portfolio for £12bn ($ 16.7bn ). Prudential CEO Mike Wells said the split would allow M&G Prudential to focus on US and European savings and retirement markets, while Prudential would concentrate on its business in the UK and Asia - which recorded double-digit growth in 2017 . Hargreaves Lansdown , equity analyst at Mike Wells , praised the decision, but said it was a shame shareholders would not profit from the sale proceeds.