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Prudential moves to reassure investors

With the collapsed deal to buy Asian insurer AIA set to cost Prudential £450 million, the company has taken measures to reassure investors.

In its business update, the insurer stressed that the funding for the proposed deal - and the resulting costs - were completely separate from the running of Prudential UK, with no policyholder funds or investments being used to subsidise the transaction.

Prudential added that nothing had changed for its UK business, and reiterated its commitment to expanding its presence in the region by investing in product development and helping advisers adapt to forthcoming regulatory changes.

Since the deal collapsed Prudential's directors have faced criticism and calls for their resignation from its shareholders, who were yet to approve the deal, with most having intended to vote against it.

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