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Prudential sells 25% stake in PruProtect and PruHealth

Prudential Assurance Group has sold its 25 per cent stake in PruHealth and PruProtect to Discovery Group Europe for a cash fee of £155m.

In a statement to the London Stock Exchange this morning, Prudential says the transaction “will enable Prudential UK to realise its investment [in the PruHealth and PruProtect joint venture] at attractive terms while providing full strategic optionality to re-enter the market in due course”.

Prudential UK, Europe & Africa chief executive Jackie Hunt says: “Prudential is proud to have built a successful UK health and protection business in partnership with Discovery over the past 10 years. This success has enabled us to divest our stake in PruHealth and PruProtect on attractive terms for our shareholders.

“The transaction will also give us the strategic and commercial flexibility to consider operating freely in the UK protection market in due course. This would be fully in line with our stated strategy of developing the UK business and leveraging the group’s global expertise in risk-focused products.”

The PruHealth proposition was launched as a joint venture between Discovery and Prudential in October 2004, while PruProtect was launched in September 2007.


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There are 3 comments at the moment, we would love to hear your opinion too.

  1. Lets hope that this will then lead to the products being administered and run from the UK with UK call centres staffed by people who know what they are talking about. I won’t hold my breath.

  2. Interested Observer 10th November 2014 at 3:42 pm

    What exciting news. I’ve been a fan of what PruProtect offers for some time, and have been hoping other providers follow. Perhaps Prudential might pick up the batton. @Harry Katz – most of your comments I find to be spot on, but this is a little harsh in my experience.

  3. Hi Harry, long time no speak. If you want UK face to face support, you only have to ask. Debbie

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