Prudential full of eastern promise
The Times (subscription)
Prudential has become the latest insurer to take a hit on past annuity sales, with profits in Britain falling by almost a third. In a contrasting picture Prudential's Asian business surged, driving overall profits above expectations. Prudential's ...
Pru puts aside £175 million for FCA annuity sales review
Pru sets aside £175m for non-advised annuity review
Prudential sets aside £175m for annuity sales review
Soaring Prudential loses height in UK on £175 million annuities hit
Insurance giant Prudential fired on all cylinders last year but took a £175 million hit from a UK regulatory review into annuity sales. Operating profits of £4.3 billion beat market expectations on Tuesday as fast-growing Asian markets like China and ...
Strong growth in Asia helps offset slump in UK profits at Prudential
Prudential - Seventh year of double digit Asian growth
Prudential is top pick after profits beat
Learning the lessons from OMO
But, of course, everybody did not know about the advantages of open market annuities as witnessed by the high-profile reviews into the market; Prudential's intention to withdraw entirely from the annuity market highlights the changing dynamics of the ...
Standard Life sets aside £175m over non-advised annuity sales
The results say: “Non-operating items include a provision for non-advised annuity sales practices of £175m but take no account of a possible insurance recovery of up to £100m.” Overall the company posted a pre-tax profit of £723m for 2016, up 9 per ...
L&G profits rise 11% to £1.6bn, reports loss on Cofunds sale
L&G Retirement achieved an operating profit of £811 million, up from £611 in 2015. In May 2016 L&G acquired a £2.9 billion back book of individual annuities from Aegon. Following the deal with Aegon, L&G's retirement business has seen annuity sales and ...
Blackstone and Prudential in lead for £12.5bn B&B mortgages
Prudential, which has one of the biggest annuity books in the UK, is interested in buy-to-let mortgages as the assets could be used to back long-term liabilities such as annuities and with-profits policies. Other companies that submitted bids included ...
the Irish News
Legal & General celebrates 17 per cent increase in profits
the Irish News
INSURER Legal & General has cheered a double-digit rise in profits helped by surging annuity sales and a raft of new business for its retirement arm. The FTSE 100 firm said annual pre-tax profits jumped 17 per cent to £1.6 billion in 2016, with Legal ...
Profits up at Legal & General
Legal & General - Steady performance across the board
High-yielding Aviva plans big capital return
As well as synergies from the Friends Life deal, profits benefited from growth in protection, pensions and individual annuities. This more than offset lower bulk annuity sales. In general insurance, Aviva delivered an operating profit of £833 million ...
Pensions push Aviva UK life profits to £1.6bn
Aviva gains on plan to return cash as operating profit rises
Edited Transcript of AV.L earnings conference call or presentation 9-Mar-17 9:00am GMT
All eyes on Prudential
FT Alphaville (registration)
All eyes on Prudential, profits grow at TP ICAP and production up at Antofagasta. FT Opening Quote, with commentary by Matthew Vincent, is your early Square Mile briefing. You can sign up for the full newsletter here. Want to buy an annuity? Anyone?