(Reuters) - The boss of Britain's biggest insurer Prudential Plc outlined a plan to double Asian premiums by 2013, a move seen as bolstering his grip on the top job after a bungled takeover in the high-growth region.
Prudential, facing shareholder pressure after the failed multi-billion-dollar attempt to buy AIA this year, also said it was targeting a doubling of last year's life insurance and asset management pre-tax profits by 2013.
"This is a very positive statement and I think that Prudential can deliver," said Shore Capital analyst Eamonn Flanagan, who listened to the company's presentation.
http://www.reuters.com/article/idUSTRE6B01TT20101201
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Following on from the last post, Pru’s plans for Asia show themselves in this article from last week. It’s ambitious to say the least but for some reason I can see them succeeding and then some. It seems some internal politics were at play here to save the top brass jobs, they now need to deliver or they will be chucked out of Pru. It’s a golden opportunity with no AIG in the market and Pru are moving aggressively to fill that gap, what their competitors moves are will be interesting to see, though I doubt we’ll learn of them till New Year.
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