Prudential is consolidating with M&G
The Pru posted a 5 per cent rise in half-year operating profit to £2.36billion, initiative by demand for its products in Asian markets.
The combined M&G Prudential business will-power manage £332billion of assets for more than six million purchasers.
Annual cost savings of £145million are needed by 2022.
The group said it regularly reviews its structure and would not comment on a unrealized break-up of the business or possible job cuts.
Nicholas Hyett, equity analyst at Hargreaves Lansdown, declared: «There has been speculation for some time that Prudential capability seek to split its mature UK business from the rapidly growing US and Asian men.
«That makes the decision to merge the UK life and M&G asset management partnerships into a single operation, M&G Prudential, a significant one.
The Pru posted a 5 per cent acclivity in half-year operating profit
«The combined business would bear a extraordinary resemblance to several other UK life businesses, and the success of the defined contribution golden handshake cause to retire scheme-focused PruFund would seem to provide a model for a viable standalone following.
«There’s no need to get rid of the UK business, but today’s move would make it a lot simpler.»