On Feb. 12, 2010, Prudential Plc Chief Executive Officer Tidjane Thiam offered $35.5 billion for AIA Group Ltd. in what would have been the firm’s biggest acquisition funded by the U.K.’s largest share sale. The same day he met the country’s regulator and didn’t mention the deal.
Prudential Plc said it plans to generate at least 10 billion pounds ($16 billion) in cash in the four years through 2017, raising speculation the U.K.’s largest insurer by market value may increase its dividend.
Prudential Plc Chief Executive Officer Tidjane Thiam said the U.S. business has a “great future” in the company, damping speculation he may follow European competitors in selling the North American unit.
Banks may struggle to raise funds from insurers due to a conflict between Basel III rules for lenders and Solvency II regulation for insurers, Prudential Plc Chief Executive Officer Tidjane Thiam said.