Pru stops short of protection pull-out

In a statement issued this morning with the firm’s 2006 full-year results, Prudential stops short of announcing it is pulling out of the market but instead says it will “expand its joint venture” with South African insurer Discovery. The firm says its flexible protection plan (FPP) will be “incorporated” into the 50:50 Discovery joint venture later this year, and "will participate in the health market through [its] existing joint venture with Discovery". “Our view is that participation in the protection market will be most effective if we allow our specialist sales force to continue s...