Insurer Prudential saw its shares rose by more than 50 % after it said it will separate Home Financial from the rest of the group , and sell part of its life annuity business for £ ##500 ( $ 16.7bn ) . : Prudential to split £10bn Group CEO Mike Wells said the split would allow M&G Prudential to focus on UK 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 . Nicholas Hyett , equity analyst at Hargreaves Lansdown , praised the decision , but said it was a shame shareholders would not benefit from the sale proceeds .
Insurer Prudential saw its shares rose by more than 50 % after it said it will separate Home Financial from the rest of the group , and sell part of its life annuity business for £ ##500 ( $ 16.7bn ) . Group CEO Mike Wells said the split would allow M&G Prudential to focus on UK 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 . Nicholas Hyett , equity analyst at Hargreaves Lansdown , praised the decision , but said it was a shame shareholders would not benefit from the sale proceeds .