Prudential break-up on the cards
Prudential could be broken up next year as part of Chief Executive Tidjane Thiam's structural review of the insurance company.
Prudential could be broken up next year as part of Chief Executive Tidjane Thiam's structural review of the insurance company.
According to The Independent on Sunday, Prudential is on track to hit Thiam's ambitious profit targets this year which "could be the catalyst for the most radical re-shape in the company's 164-year history."
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However, a decision on a potential break-up is unlikely to be taken until the results of the Solvency II European capital rules are seen, the paper said.
At the time of Prudential's third-quarter results, Thiam said: "If a business can survive on its own, then it is an option to separate it from the group, and that option has value, and that value will be reflected in our share price, which is good for our shareholders.
"I have to say this doesn't mean we intend to sell any part of the group. We just want to create that option."
BC
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