Prudential sets £10bn cash target after strategy pays off

He also said that the insurer plans to raise £10bn, or a third of its market capitalisation value, in cash over the next four years and generate an underlying surplus in its Asia business of £0.9bn - £1.1bn, while aiming for Asia life and asset management to grow at a compound annual rate of at least 15% in 2012-2017 (pre-tax IFRS operating profit). Prudential's strategy will remain unchanged, he confirmed, focusing on a growing demand for savings and protection products in Asia, and meeting the savings and retirement needs of the baby-boomers in the US and the ageing population in the U...