Pru UK new business profit soars 17% in 2007

The group’s asset management business, M&G, also grew, with profit ups 25% to £254m and funds under management jumping £8bn to £69bn. Last year also saw the successful transfer of Equitable Life’s £1.7bn in-force portfolio of with-profits annuities to Prudential. Across the group as a whole, new business profit climbed 22% to £1,215m. Mark Tucker, group chief executive, says: “These outstanding results demonstrate excellent and continued momentum in the successful delivery of the Group’s retirement led strategy. “Each of our businesses is performing strongly representing a powerful ...