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Pru could be biggest worldwide insurer in five years, says KBW

Prudential could become the biggest insurer in the world within five years, analysts at Keefe Bruyette & Woods have forecast.

In a note today, KBW analysts Greig Paterson and Steven Haywood say the UK insurer has the capital resilience to withstand a “1929 type event”.

KBW says that Prudential is in a strong position to acquire AIG’s Asian businesses at a good price.

The note says: “This may possibly lead to the group becoming one of the largest insurance companies in the world by 2010, when we move past the current once in a lifetime credit event and Asian growth is once again reflected in the multiple.”

KBW says Prudential would have to overtake international players such as Axa, Allianz, Generali, Munich Re, Swiss Re and ING in order to reach the top spot.

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