Prudential has reversed current trends by announcing healthy new business figures for the first half of the year and a free asset ratio of 11 per cent for its UK life fund.
Its FAR at the end of 2001 was12.2 per cent. Prudential has not reinsured or taken advantage of future profits. It says is has not been reducing its expose to equities.
Sales for the UK life business were up 4 per cent to £398m on an APE basis. Sales via intermediaries were up 5 per cent to £233m APE.