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Insurer Prudential to split by end of the year

Oliver Ralph in London

Prudential, Britain’s biggest insurance company, is to split itself up later this year, pushing ahead with a radical restructuring despite market volatility caused by Brexit, the US-China trade dispute and the Hong Kong protests. from the rest of the group have been under way since March last year, when the company announced M&G Prudential would be hived off from the US and Asian businesses. “We expect to complete the demerger of M&G Prudential in the fourth quarter of 2019, and preparations are complete for Prudential plc’s move to group-wide supervision by the Hong Kong Insurance Authority,” he said.