Prudential UK sales top £400m but M&G inflows slow

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Prudential saw a first-half boost in sales thanks largely to a 20% jump in corporate pensions new business, but inflows at the group's investment business fell sharply.

Total sales at Prudential UK in the first half of the year were £409m on an annual premium equivalent (APE) basis, up from £382m in the same period last year. New business profit was also up, rising to £146m in H1 2011 from £135m in the first six months of 2010. The group said UK corporate pension sales, at £147m APE, were 20% higher than the same period last year as it works with private sector customers on the transition from defined benefit to defined contribution. Meanwhile, total annuity sales were 23% lower in the first half, with external sales of £30m down 38% on the same p...

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