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Prudential Plc Now Expects Jackson Demerger To Complete In H2 21
LONDON (dpa-AFX) - Prudential plc (PRU.L, PUK) announced business and Jackson demerger update in advance of its Annual General Meeting. Prudential now expects Jackson s demerger to complete in second half of 2021.
Mike Wells, Group Chief Executive of Prudential, said, At the point of the proposed separation and subject to market conditions, Jackson National Life continues to expect to have an RBC ratio in excess of 450 per cent, after giving effect to the debt expected to be drawn down prior to demerger.
The company also announced that first quarter Asia and Africa APE sales rose 14 percent to $1.193 billion and new business profit improved 21 percent to $624 million.