Standard Life Plc dropped in London trading on reports that the U.K. will introduce collective pension plans, potentially risking revenue for insurers after more months of shakeups to laws governing the savings market.
Prudential Plc rose as much as 3.9 percent in London trading, the most in four months, after the Times reported the company’s biggest shareholder is in talks with investors about a possible breakup of the insurer.
Tidjane Thiam kept his job after he tried and failed to buy Prudential Plc when he was strategy director at Aviva Plc . Now that he’s Prudential’s chief executive officer, he can’t afford to fail again.
Prudential Plc ’s attempt to cut the price of its $35.5 billion takeover of American International Group Inc. ’s main Asian unit failed, leaving the biggest purchase in the U.K. insurer’s history on the verge of failure.
Aviva Plc rallied to its highest in more than five years after profit beat analysts’ estimates and Chief Executive Officer Mark Wilson said he planned to restore bonuses at the U.K.’s second-biggest insurer by market value.