Prudential Plc posted a 6 percent increase in first-half profit as a jump in earnings at its Asia business helped the U.K.’s largest insurer to beat analyst estimates. The shares climbed to an almost four-month high. The company reported operating profit of 2.06 billion pounds ($2.69 billion) in the first six months of year, the statement […]

The man at the driving seat of one of the most notable insurance giants has today said he believes many are still struggling to get their head around the Asian market. In a conference call to discuss his company’s half-year results, Prudential chief executive Mike Wells pointed out there were still many misconceptions about the […]

Insurer Prudential (PRU.L) could shift more funds from its asset management business to Dublin or Luxembourg to maintain access to the European Union’s single market after Britain’s vote to leave the bloc, its asset management boss said on Wednesday. Prudential, like other British insurers, has experienced volatility in its share price from the uncertainty caused by the […]

Pensions and insurance giant Legal & General’s shares are today the biggest fallers of the FTSE 100, despite the company revealing a boost to its pre-tax profits. Legal & General announced a profit before tax attributable to shareholders of £826m, an increase of 23 per cent. Despite this, shares are currently down 4.9 per cent […]

The Indian subsidiary of British investment and insurance firm Standard Life will take over Max Life Insurance, a leading competitor in the South Asian giant. HDFC Standard Life Insurance has reached an agreement with Max Life Insurance, Max Financial Services and Max India Limited for the combination of the two life insurance businesses. The companies, […]

The four-way separation of Old Mutual has taken another chunk out of the business, after the financial services group announced the sale of its Italian wealth arm to the private equity-backed Ergo Italia. Old Mutual said the €278m (£238m) sale should complete within six months and will transfer €7bn in client funds to Ergo, which […]

Inzura – a new digital insurance platform – is set to begin using smartphone data and photo recognition to calculate policies. It’s thought insurance companies will be able to take on less risk by fine-tuning policies. “We believe the smartphone will play a central role in the much-needed digitisation of insurance,” said Richard Jelbert, chief […]

Munich Re, the world’s second-biggest reinsurer, reported second-quarter profit that beat analysts’ expectations as gains from currencies and investments cushioned higher claims from natural disasters and restructuring charges at its Ergo primary-insurance unit. Net income declined to 974 million euros ($1.08 billion) from 1.1 billion euros a year earlier, the Munich-based company said in a statement on Tuesday. That […]

Lower profits in Legal & General’s (LGEN.L) investment management and general insurance businesses took the shine off an overall 10 percent rise in first-half operating profit, making the insurer the largest loser in the FTSE 100 index on Tuesday. The above-forecast rise in operating profit to 822 million pounds ($1.07 billion) was boosted by strong growth in […]

Top global broker Lockton has named veteran insurance executive Stuart Wright as the new boss of its managing general agent (MGA). Wright has been appointed as CEO of Lockton-owned MGA Mapledown Underwriting to drive the next phase of the firm’s growth strategy. Wright’s appointment stresses Mapledown’s investment in the future, according to company chairman David Smith. “Stuart brings a […]