UK insurer Prudential to spin off M&G unit as it focuses on Asia growth

UK insurer Prudential to spin off M&G unit as it focuses on Asia growth

Photo: Reuters

Prudential Plc plans to spin off its M&G Prudential unit and sold 12 billion pounds ($16.7 billion) of U.K. annuities to Rothesay Life and as the company focuses on growth outside Europe. The shares soared.

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