Prudent Measures Necessary to Right Underperforming Insurer

Summary

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Mark Tucker, the ambitious chief executive of Prudential, is set to unveil a long-awaited strategic rethink for the insurer's underperforming UK business, but is likely to dash market hopes of an outright sale.

The review of Prudential's troubled domestic unit was first announced last year, but months of waiting have fuelled growing expectations that Mr Tucker and his team plan decisive action by March 15 - when Prudential is due to present 2006 results.

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Prudent Measures Necessary to Right Underperforming Insurer

Prudential's business at home, which accounts for roughly 40 per cent of its profit, has underperformed rivals. Even with a recovery in the fourth quarter, Prudential was the only major UK insurer to report flat sales in 2...

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