Prudential today reveals "robust" UK and group results for the first nine months of 2008 as it admits interest in US rival AIG and revises its Asia targets.
The insurer says the annual premium equivalent (APE) for its UK business climbed 38% on the same period in 2007 to £732m, “maintaining” its strong performance in the first half of the year. Overall group new business was up 15% to £2,302m, while Prudential says a “flight to quality” was responsible for net inflows to its asset management arm, M&G, climbing to £4.1bn, up 15% on 2007. Its US business rose to £538m, up 3%. Prudential says it is “monitoring closely” AIG's disposal programme in Asia and considering opportunities it may present for its shareholders. It says Asia is the only r...
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