|Bid||1,433.00 x 0|
|Ask||1,510.00 x 0|
|Day's range||1,478.50 - 1,504.50|
|52-week range||12.37 - 1,795.00|
|Beta (5Y monthly)||1.10|
|PE ratio (TTM)||12.06|
|Earnings date||11 Mar 2020|
|Forward dividend & yield||0.50 (3.34%)|
|Ex-dividend date||22 Aug 2019|
|1y target est||2,079.18|
Prudential is in talks that could lead to it taking full control of its 50:50 joint venture with China's CITIC and is considering selling some or all of its U.S. business to sharpen its focus on Asia, a source told Reuters. Changes in January to foreign ownership laws in China have made it possible for the first time for the British life insurer to own all of its CITIC joint venture, a landmark transaction which the source said Prudential was working towards.
Jackson National Life Insurance Company® (Jackson®) today announced that Axel André has been named Executive Vice President and Chief Financial Officer of Jackson. André most recently served as Chief Financial Officer of Individual Retirement at AIG. He will be based in the company’s Lansing, Michigan office and will assume his new role effective Feb. 24, 2020.
British insurer Prudential on Thursday named Shriti Vadera, a possible former contender to replace Mark Carney as governor of the Bank of England, as an eventual successor to Chairman Paul Manduca. Vadera, currently chairwoman of Santander UK Group and senior independent director at mining giant BHP Group , will join Prudential on May 1 as a non-executive director before replacing Manduca on Jan. 1, 2021, Prudential said in a statement. Vadera was touted as one of several candidates for the Bank of England's top job, which will now be taken by Andrew Bailey, former head of Britain's Financial Conduct Authority.
An insurance company has agreed to pay $20.5 million to settle claims that it discriminated against black and female employees in Denver and Nashville, Tennessee. A complaint filed by the U.S. Equal Employment Opportunity Commission claimed black employees at Jackson National Life Insurance were passed over for promotions and were paid less than their white counterparts, The Denver Post reported Thursday. The company also must train employees on discrimination, harassment and retaliation.
Asia-focussed insurer AIA Group Ltd on Friday named a senior executive at Chinese rival Ping An Insurance Group Co as its chief executive officer to replace company veteran Ng Keng Hooi. Lee Yuan Siong, a co-CEO at Ping An Insurance, will take over as CEO and president-designate from March 1, 2020, and will assume full responsibility from June 1, Hong Kong-headquartered AIA said in a statement issued to the stock exchange. Before joining Ping An, China's largest insurer by market value, in 2013, Lee worked at Prudential Plc and the Monetary Authority of Singapore.
Shares in Aviva slid on Wednesday after the British insurer announced it would reorganise into five divisions and sell its stake in its Hong Kong business, falling short of investor expectations for a broader change in strategy. Analysts had speculated Aviva might announce that it would sell smaller European operations such as France or Italy to focus on the UK, or offload books of life insurance closed to new customers. Aviva is folding Aviva Investors, its fund management arm, into a broader investments, savings and retirement division.
SINGAPORE (Nov 5): Prudential Singapore has rolled out a service allowing its customers to receive cashless medical services when seeking treatment from participating specialists at Raffles Hospital and Mount Alvernia Hospital. Capped at $30,000, the feature and will be available to Singaporeans and Permanent Residents holding the PRUExtra Premier policy, a private hospital integrated shield plan rider. Under the move, Prudential will settle its customer’s medical expenses directly with the two hospitals, thereby allowing them to admit and discharge themselves without payment.
The closing share price gives M&G a market value big enough to be eligible for the FTSE 100. Photograph: Chris J Ratcliffe/Getty ImagesThe fund management and UK arm of Prudential has been valued at £5.7bn on its first day of trading on the London Stock Exchange, following a demerger from the 171-year-old insurance group.M&G formally became a separate listed firm on Monday, focusing on what were Prudential’s UK and Europe operations. Prudential will now focus on the US, Africa and Asia.Shares in M&G closed the day slightly below the 220p opening price at 218p, giving it a market value big enough to be eligible for the FTSE 100 index.The decision to split Prudential, which was founded in 1848, was first announced last year, and came after the group combined its UK life insurance arm with its fund management division in 2017.M&G made its market debut with £341bn in assets under management, and with 6,331 staff worldwide. The company serves about 5.5 million retail customers and 800 institutional clients through 20 global office operating across 28 markets.Sign up to the daily Business Today email or follow Guardian Business on Twitter at @BusinessDeskBoth Prudential and M&G remain headquartered in London.The chief executive of M&G, John Foley, said the split was a significant milestone for his company.He said: “Our independence and unique business mix means we are well-positioned to benefit from long-term economic and social trends that offer growth opportunities for many years to come.”
Shares in UK and Europe-focused asset manager and insurer M&G fell slightly on its first day of trading after being demerged from Asia-focused Prudential , which soared to the top of Britain's top share index. Faced with tougher European capital and solvency rules after the financial crisis, many insurers have looked to simplify their operations by breaking up, among them Standard Life Aberdeen and Old Mutual . "The Board believes the demerger will help Prudential and M&G to become more closely aligned to the interests of their customers and shareholders," Prudential Chairman Paul Manduca said.
Investing.com -- China throws a party with ICBMs and stealth drones, while Hong Kong burns. Meanwhile, Europe's economy looks ever grimmer and Credit Suisse (SIX:CSGN) clears its CEO of wrongdoing in a spy drama. Here's what you need to know in financial markets on Tuesday, 1st October.
Prudential Plc's Asian asset management unit Eastspring Investments is buying 50.1% of Thanachart Fund Management Co. Ltd. (TFUND) for 4.21 billion baht ($137.5 million), just a year after entering the Thai mutual fund market via an acquisition. Eastspring is buying the stakes from Thanachart Bank Pcl (TBANK) and Government Savings Bank. It has an option to raise ownership in the Thai asset manager to 100% in the future.