UK: PRUDENTIAL INCREASES PROFIT ABROAD

Article Abstract:

Prudential had an operating profit of GBu 22mn in Asia in 2000, up 42%, helping to compensate for a 3% decline in the UK, where its operating profit was GBu 501mn. Total operating profit was GBu 840mn, up 8%. According to the chief executive, Jonathan Bloomer, the company is one of the top global financial services groups, making more than 60% of its profit abroad. Jackson National Life, the company's US subsidiary had GBu 1.03bn achieved operating profit, a 6% fall in 2000. According to a West LB Panmure, investment bank, insurance analyst, Robin Savage, by 2011 Asian profit could exceed GBu 200mn.

Publisher: FT Business
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
Foreign operations

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UK: PRUDENTIAL AND LEGAL & GENERAL HIGHLY RATED

Article Abstract:

Standard & Poor (S&P) have given Prudential and Legal & General (L&G) an AAA financial strength and credit rating. S&P's report indicates that although Prudential is likely to suffer a decline in its operating performance in the UK its earnings will be stable as a result of growth in Asia and the US. L&G, whose market share in the UK is likely to grow as a result of ecommerce, stakeholder pensions and strong brand recognition, had GB[pound] 3.3bn worth of new business in 1999.

Publisher: FT Business
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2000
Legal and General Group PLC, Prudential

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UK: CREDIT DOWNGRADES FOR LIFE INDUSTRY

Article Abstract:

Standard & Poor's has predicted a downturn in UK life office ratings, following a spate of downgradings during 2000, including Equitable Life, which has ceased to take on new business. Other businesses downgraded include Allied Dunbar, National Mutual, Lincoln Assurance, Pearl Assurance, Scottish Equitable, and National Provident Life. J Rothschild Assurance and Royal & Sun Alliance both enjoyed rating upgrades during the same period.

Publisher: FT Business
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2000
Equitable Life Assurance Society

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Subjects list: United Kingdom, Life insurance
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