Prudential

AIA's chief executive has told friends and industry executives he would quit if the UK's Prudential succeeded in its $35.5bn (£24.6bn) takeover of the group's Asian arm.

The chief executive of M&G has decided not to buy his full allocation of shares in Prudential as part of its proposed takeover of Asian insurer AIA.

The US Treasury has secretly resurrected plans to float Asian insurer AIA on fears the £24bn sale to Prudential could fall apart.

Prudential's UK new business profits rose 15% in Q1, as the insurer reaffirmed a commitment to its domestic arm today.

Prudential has revealed the terms of its £14.5bn cash call, with the issue price set at more than an 80% discount to the insurer's closing level on Friday.

Prudential will tell investors next week it plans to auction off a number of Asian assets in the wake of its $35.5bn (£24bn) acquisition of AIA, in an attempt to calm shareholder nerves over the deal.

Prudential's plans to buy AIG's Asian business edged a step closer as regulators look set to approve the deal.

Prudential chief executive Tidjane Thiam is pressing ahead with the faltering AIA deal, vowing to persuade shareholders to back the $35.5bn (£23.7bn) takeover of AIG's Asian business.

Neptune MD Robin Geffen has stepped up his campaign to oust Prudential's CEO Tidjane Thiam as the insurer is poised to gain FSA approval for its takeover of AIG's Asian arm AIA.

Prudential has delayed the issue of details of its $21 bn cash call, because it has failed to reach agreement with the FSA on its capital position.