UK-based insurance titan Prudential could be upping sticks and moving its headquarters outside Europe to avoid strict new capital rules for European insurers.
In response to week-end press speculation that the Pru's increasing focus on Asia could see it shift its headquarters there the company has issued a statement that only went so far as to admit that it regularly reviews its range of options to maximise its strategic flexibility. "This includes consideration of optimising the group's domicile, including as a possible response to an adverse outcome on Solvency II."
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"There continues to be uncertainty in relation to the implementation of Solvency II and implications for the group's businesses. Clarity on this issue is not expected in the near term," Prudential said.
jh
-
Millions at risk of 'unnecessary' tax bill – how to shield your savingsMillions of Brits could be taxed on their savings interest this year as their savings interest exceeds the personal savings allowance. Are you at risk?
-
Savers will have to wait as long as 48 years to build a £1m cash ISA pot if allowance is cutChancellor Rachel Reeves is rumoured to be planning a cut to the cash ISA allowance in the Autumn Budget, making it harder for savers to build wealth. Will you still be able to build a £1 million cash ISA pot?
