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Prudential PLC (PRU.L)

PRU.L on London Stock Exchange

1,198.50GBp
5 Aug 2020
Change (% chg)

31.50 (+2.70%)
Prev Close
1,167.00
Open
1,174.00
Day's High
1,200.50
Day's Low
1,169.00
Volume
2,441,057
Avg. Vol
5,245,884
52-wk High
1,585.50
52-wk Low
682.80

Latest Key Developments (Source: Significant Developments)

Prudential Announces $27.6 Bln Reinsurance Agreement With Athene Holding Into Its U.S. Business
Thursday, 18 Jun 2020 

June 18 (Reuters) - Prudential PLC ::PRUDENTIAL PLC - US BUSINESS: REINSURANCE TRANSACTION & INVESTMENT.PRUDENTIAL - $27.6 BILLION(1) OF JACKSON'S IN-FORCE FIXED AND FIXED INDEXED ANNUITY PORTFOLIO FULLY REINSURED BY ATHENE, EFFECTIVE FROM 1 JUNE 2020.PRUDENTIAL - ANNOUNCES $27.6 BILLION(1) US REINSURANCE AGREEMENT ALONGSIDE $500 MILLION EQUITY INVESTMENT BY ATHENE HOLDING LTD INTO ITS US BUSINESS.PRUDENTIAL - EQUITY INVESTMENT EXPECTED TO CLOSE IN JULY 2020.PRUDENTIAL - PREPARATIONS FOR A MINORITY IPO OF JACKSON CONTINUE ALONGSIDE AN EVALUATION OF OTHER OPTIONS.PRUDENTIAL - CONTINUES TO PREPARE FOR A MINORITY IPO OF JACKSON ALONGSIDE ACTIVE EVALUATION OF OTHER OPTIONS TO CREATE AN INDEPENDENT US BUSINESS..PRUDENTIAL - COMBINED EFFECTS OF INVESTMENT & REINSURANCE TRANSACTIONS EXPECTED TO RAISE JACKSON'S RISK-BASED CAPITAL COVER RATIO BY 80 PERCENT POINTS.PRUDENTIAL - ATHENE'S INVESTMENT WILL TAKE FORM OF A CASH SUBSCRIPTION FOR ISSUANCE OF NEW COMMON EQUITY IN BROOKE (HOLDCO 1) INC.PRUDENTIAL - REACHED AGREEMENT WITH ATHENE HOLDING FOR ITS UNIT ATHENE LIFE RE LTD TO INVEST $500 MILLION IN PRUDENTIAL'S US BUSINESS.  Full Article

Athene Announces Fixed Annuity Reinsurance Transaction With Jackson National Life Insurance Company
Thursday, 18 Jun 2020 

June 18 (Reuters) - Athene Holding Ltd ::ANNOUNCES FIXED ANNUITY REINSURANCE TRANSACTION WITH JACKSON NATIONAL LIFE INSURANCE COMPANY.WILL REINSURE A $27 BILLION IN-FORCE BLOCK OF FIXED DEFERRED AND FIXED INDEXED ANNUITIES.AS PART OF TRANSACTION, ATHENE IS MAKING A $500 MILLION EQUITY INVESTMENT IN JACKSON, REPRESENTING AN 11% STAKE IN COMPANY.TRANSACTION IS EXPECTED TO BE ACCRETIVE TO ATHENE'S ADJUSTED OPERATING INCOME IN 2021 AND 2022.EXPECTS TO DEPLOY ABOUT $1.2 BILLION OF TOTAL CAPITAL IN CONNECTION WITH TRANSACTION TO BE CONTRIBUTED OVER NEXT 12-18 MONTHS.JACKSON WILL CONTINUE TO SERVICE AND ADMINISTER IN-FORCE POLICIES WITHIN BLOCK.REINSURANCE AGREEMENT HAS AN EFFECTIVE DATE OF JUNE 1, 2020.  Full Article

Third Point Discloses 5.04% Stake In Prudential As Of June 5
Wednesday, 10 Jun 2020 

June 10 (Reuters) - Prudential PLC ::THIRD POINT LLC DISCLOSES 5.04% STAKE IN PRUDENTIAL AS OF JUNE 5 - FILING.  Full Article

UK watchdog to ban contingent charging in pensions market
Friday, 5 Jun 2020 

June 5 (Reuters) - :FCA SETS OUT NEXT STEPS TO IMPROVE DEFINED BENEFIT PENSION TRANSFER MARKET.FCA SETS OUT NEXT STEPS TO IMPROVE DEFINED BENEFIT PENSION TRANSFER MARKET.FCA SETS OUT NEXT STEPS TO IMPROVE DEFINED BENEFIT PENSION TRANSFER MARKET.FCA PENSION PACKAGE INCLUDES STEPS TO REDUCE CONFLICTS OF INTEREST BY BANNING CONTINGENT CHARGING.FCA SAYS PROPORTION OF CUSTOMERS WHO HAVE BEEN ADVISED TO TRANSFER OUT OF THEIR DB PENSION IS UNACCEPTABLY HIGH..FCA IS UNDERTAKING 30 ENFORCEMENT INVESTIGATIONS.FCA FOUND THAT PERCENTAGE OF UNSUITABLE FILES IN BRITISH STEEL PENSIONS WAS HIGHER THAN THOSE IN REST OF SAMPLE..  Full Article

UK to guarantee business-to-business transactions
Wednesday, 13 May 2020 

May 13 (Reuters) - :UK GOVERNMENT WILL TEMPORARILY GUARANTEE BUSINESS-TO-BUSINESS TRANSACTIONS CURRENTLY SUPPORTED BY TRADE CREDIT INSURANCE,.GUARANTEE WILL BE DELIVERED THROUGH A TEMPORARY REINSURANCE AGREEMENT TO BE AGREED WITH INSURERS CURRENTLY OPERATING IN MARKET..  Full Article

UK watchdog seeks court declaration on business interruption policies
Friday, 1 May 2020 

May 1 (Reuters) - :FCA IS ANNOUNCING THAT IT INTENDS TO OBTAIN A COURT DECLARATION TO RESOLVE CONTRACTUAL UNCERTAINTY IN BUSINESS INTERRUPTION ("BI") INSURANCE.FINANCIAL CONDUCT - FCA STATEMENT ON BUSINESS INTERRUPTION INSURANCE.FCA IS ANNOUNCING THAT IT INTENDS TO OBTAIN A COURT DECLARATION TO RESOLVE CONTRACTUAL UNCERTAINTY IN BUSINESS INTERRUPTION.FCA SAYS THIS IS DUE TO CONTINUING CONCERNS ABOUT LACK OF CLARITY AND CERTAINTY FOR SOME CUSTOMERS MAKING BUSINESS INTERRUPTION (BI) CLAIMS,.FCA- THIS IS DUE TO CONTINUING CONCERNS ABOUT LACK OF CLARITY AND CERTAINTY FOR SOME CUSTOMERS MAKING BUSINESS INTERRUPTION CLAIMS.FCA-WE ARE INTENDING TO TAKE THIS ACTION IN PUBLIC INTEREST TO ADVANCE OUR CONSUMER PROTECTION AND MARKET INTEGRITY OBJECTIVES.FCA ANY UNCERTAINTY NEEDS TO BE RESOLVED AS QUICKLY AS POSSIBL.  Full Article

Prudential Says Dividend Payable In Cash On May 15 To Be 20.84p/Share
Wednesday, 29 Apr 2020 

April 29 (Reuters) - Prudential PLC ::PRUDENTIAL PLC - PAYMENTS OF DIVIDENDS.PRUDENTIAL - AMOUNT OF STERLING PAYABLE IN CASH ON 15 MAY 2020 WILL BE: 20.84 PENCE PER ORDINARY SHARE..PRUDENTIAL - AMOUNT OF HONG KONG DOLLARS PAYABLE IN CASH ON 15 MAY 2020 WILL BE: 2.0129 HONG KONG DOLLARS PER ORDINARY SHARE..  Full Article

Prudential Announces Reduction In Salaries Of Executive Directors To Level On Dec 31
Thursday, 9 Apr 2020 

April 9 (Reuters) - Prudential PLC ::UPDATE ON EXECUTIVE DIRECTOR REMUNERATION.REDUCTION IN SALARIES OF EXECUTIVE DIRECTORS TO LEVEL ON 31 DECEMBER 2019, WITH EFFECT FROM 1 APRIL 2020..REDUCTION IN PENSION BENEFITS OF INCUMBENT EXECUTIVE DIRECTORS FROM 25 PER CENT TO 13 PER CENT OF SALARY, WITH EFFECT FROM 14 MAY 2020.CFO AND COO 2020 LONG TERM INCENTIVE PLAN AWARD WILL BE MAINTAINED AT 250 %P AND WILL NO LONGER INCREASE TO 300% OF SALARY.  Full Article

Prudential Says Full Consequences Of COVID-19 Still Emerging
Tuesday, 24 Mar 2020 

March 24 (Reuters) - Prudential PLC ::UPDATE ON COVID-19 AND CURRENT MARKET CONDITIONS.OUR BUSINESS CONTINUES TO BE FINANCIALLY RESILIENT.RISK-BASED CAPITAL RATIO (RBC) OF JACKSON, OUR US BUSINESS, AS AT 31 DECEMBER 2019 WAS 366 PER CENT.FULL CONSEQUENCES OF COVID-19 ARE STILL EMERGING.HAS A HIGHLY RESILIENT BUSINESS MODEL AND REMAINS WELL PLACED TO CONTINUE TO CREATE VALUE FOR SHAREHOLDERS.CONTINUES TO ACTIVELY EVALUATE OTHER OPTIONS IN RELATION TO JACKSON.CONTINUITY PLANS HAVE BEEN EXECUTED SMOOTHLY..  Full Article

Prudential Says Prudential Thailand And Tmb Bank Establish Strategic Bancassurance Partnership
Thursday, 19 Mar 2020 

March 19 (Reuters) - Prudential PLC ::PRUDENTIAL THAILAND AND TMB BANK ESTABLISH STRATEGIC BANCASSURANCE PARTNERSHIP.UNIT FOR INITIAL TERM OF 15 YEARS TO PROVIDE PRUDENTIAL'S SUITE OF HEALTH AND WEALTH SOLUTIONS TO TMB.  Full Article

BRIEF-UK watchdog says wants capital rules for investment firms

* FCA HAS TODAY PUBLISHED ADISCUSSION PAPERON A PRUDENTIAL REGIME FOR UK INVESTMENT FIRMS.