Pru expects RDR to dampen investment bond sales

UK new business profit increased 20% to £313m, up from £260m in 2011. IFRS long-term operating profit for the UK grew 3% to £703m, up from £683m in 2011, with the completion of two selective bulk annuity deals contributing to this figure. Prudential said the UK business continues to benefit from its focus on its core products, with-profits and individual annuities, with sales of both increasing by more than 30% during the period. The life company said it continues to assess the impact of the Retail Distribution Review, which was implemented on 31 December 2012, and said the rule ch...