Pru with-profit bonds sales hit by RDR

Sales of onshore bonds were down 18% to £45m, which Prudential said largely reflected the anticipated reduction in sales of with-profits bonds as a consequence of the implementation of the RDR regulations at the end of 2012. First quarter with-profit bond sales were 21% lower than the first quarter of 2012. This is despite benefiting from a significant pre-RDR pipeline, Prudential said. The insurer anticipates "market dislocation" will persist in the short-term as consumers and distributors adjust to the new environment. It expects this will dampen its sales of investment bonds in 201...