Pru to take on Equitable Life's with-profits

The deal, which is still subject to a shareholder vote and regulatory and court approval, will see an additional 62,000 policies transferred into the company’s with-profits fund. It is expected to generate £180m of premium income on an APE basis. Nick Prettejohn, chief executive of Prudential UK, said: “The with-profits fund has delivered excellent investment returns over many years and as a result of this transaction, Equitable Life’s with-profits annuities will benefit from Prudential’s considerable experience in the annuities market.” If you would like to comment on this story o...