Pru could exit UK this year - reports

Prudential's 160-year-old association with the UK could end later this year as the insurer is believed to be working on radical plans to offload its British and American businesses.

The sales would raise more than £10bn which the insurer would use as part of its attempted $35.5bn (£23.2bn) takeover of Asian rival AIA, according to the Sunday Times. A 1,000-page prospectus is due to be published by Prudential this week to support a £14bn rights issue to secure the deal - one of the biggest by a British company. Analysts believe the document will show there is no justification for Prudential to own the UK or US businesses. It is believed the UK sale could be launched within weeks of the AIA deal being completed in the autumn while an auction of Pru's US arm, which ...