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Pru shares rise on Chinese whispers

Prudential’s shares received a boost yesterday as reports that China’s Ping An Insurance was looking to buy £7bn of Prudential shares emerged.

A Chinese business paper reported that Ping An – 17 per cent of which is owned by HSBC – was close to taking a £7bn stake in the life office which would be equivalent to a 45 per cent holding in the £15.5bn firm.

Pru shares jumped more than 10 per cent early yesterday and this morning the company was trading at 670.5p per share after closing at 626p yesterday.

Prudential is set to release its company results next Tuesday.


Exit polls

Falcon chief executive Allan Rosengren has highlighted growing concerns over some of the exit strategies being offered to advisers who sell their businesses or retire.

Advisers’ regulatory fees soar by 15% to pay £18m cost of TCF

FSA fees for advisers are to rise by 10 to 15 per cent to cover the estimated £18m cost of its treating customers fairly initiative.The increase comes on top of the 10 per cent hike advisers had to pay last year.The new rise will be spread over three years and will pay for a 25 […]

F&C put through the rumour mill

After a difficult 12 months at F&C that have seen dividends cut and takeover rumours rife, reports now suggest that parent Friends Provident may sell its 53 per cent stake in the firm.

Pension providers must improve service, says Prudential Retirement Income Panel

Pension providers must improve their levels of service to annuities customers and focus on speeding up fund transfer times, says the Prudential Retirement Income Panel.The panel of retirement and pensions savings experts say providers also need to look at how they explain annuity options to consumers who are approaching retirement.Association of British Insurers assistant director […]

Qatar cover image - thumbnail

White paper — Qatar International Insights

Jelf Employee Benefits highlights new legislation, key requirements and policy considerations when structuring international private medical insurance (IPMI) for expatriate employees in Qatar. This edition will be of particular interest to global human resource directors, compensation and benefits specialists and mobility managers who have employee populations in Qatar.


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