Prudential to offload US business

Pedro Gonçalves
clock • 2 min read

British insurance giant Prudential is planning to divest its stake in the US insurance arm Jackson National Life as it faces increasing pressure from an activist hedge fund to turn its focus towards Asia. Jackson accounts for almost half of Prudential's profit, but it is unpopular with UK investors who have complained that it is too complex, and that its fortunes are too closely tied to the performance of the stock market.  The 172-year-old insurer is expected to reveal it is laying the groundwork for its American business - Jackson Life -either to list in the US or form a possible pr...

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