Prudential

Prudential UK's total APE sales for the first half of the year were down 14% to £376m with a strong showing for with-profit bonds and individual pensions offset by falls for individual annuities, offshore bonds and corporate pensions.

Over one in ten workers with a pension have slashed contributions or abandoned saving altogether in the past five years, new research reveals.

Aviva and Prudential are the most likely to gain from consolidation in the UK life assurance industry, according to Deutsche Bank.

The FTSE plummeted over 1% in early trading, dropping to 4,187 points by 8.43 this morning.

Prudential has poached Lloyds Banking Group's Rob Devey, to take up the role of chief executive of Prudential UK and Europe.

The ABI has warned the Treasury not to apply proposed prudential stability rules for the banking sector to its own members.

Advisers say the number of clients using the open market option (OMO) is increasing.

Prudential UK's total sales (APE) in the first quarter of 2009 were £180m, down 6% on the same period in 2008, in the face of 'extremely difficult and volatile market conditions'.

Pensioners retiring in 2009 expect to have lost out on £2.87bn compared with those retiring last year due to the financial crisis.

Prudential UK has appointed Simon Webb as commercial manager in its Corporate Solutions team.