Prudential Sets 4th-Quarter Split From European Business

Law360, London (August 14, 2019, 1:35 PM BST) -- British insurer Prudential PLC said Wednesday that it will split off its M&GPrudential European and U.K. business by the end of the year, leaving the rest of the group to focus on Asian, U.S. and African markets.

The new standalone European business will be listed on the London Stock Exchange as M&G PLC after the two entities separate, the financial services giant announced on Wednesday. The two companies ⁠— M&G PLC and Prudential PLC ⁠— will have separate corporate identities and distinct boards and management teams.

Prudential said it is preparing to shift supervision of its group-wide operations to the Hong...

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