Prudential Plc, the U.K.’s biggest insurer by market value, said its Asian business is on course to become self-financing by the end of 2013, which would give the insurer the option of selling any of its four divisions.
RSA Insurance Group Plc, the U.K.’s biggest property and casualty insurer by market value, said nine-month revenue rose 4 percent as growing demand from emerging markets outweighed flat sales in the U.K.
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.
Prudential Plc , the British insurer buying American International Group Inc.’s main Asian unit, delayed its $21 billion rights offering until U.K. regulators agree the combined company will have sufficient capital.