Prudential prepares to demerge UK business

British insurance major Prudential is set to start a split of its UK business from the group's Asian and American operations, which will create a new FTSE 100 company worth up to £7bn. The new British entity will be named M&GPrudential,  while the other half will be known as Prudential plc and will include the Asian operation based in Hong Kong, a smaller business in Africa, and US retirement business Jackson National Life, according to the FT. Analysts expect Prudential to give a firm timetable for the split  alongside half-year results on Wednesday and anticipate it could be finalis...