Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Prudential To Sell Closed Book Life Insurance Business In Japan To SBI Holdings

RELATED NEWS
Trade PUK now with 

UK insurer Prudential Plc. (PRU.L) announced that, through its subsidiary Prudential Holdings Limited, has reached an agreement with SBI Holdings Inc. to sell its closed book life insurance business in Japan, PCA Life Insurance Co., Ltd. for US$85 million. The proposed transaction is subject to regulatory approval.

Prudential said that the proposed sale is consistent with its strategy of allocating its capital to markets where it is well positioned to generate attractive long-term returns for shareholders. PCA Life Japan ceased underwriting new business in February 2010.

Prudential said it remains committed to the Japanese market through Eastspring Investments, its Asian asset management business.

Click here to receive FREE breaking news email alerts for Prudential PLC and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Swiss drug maker Roche Holding said a late-stage trial of its breast cancer drug Kadcyla did not provide superior results compared with an existing therapy. FCA US, until recently known as Chrysler, said Friday it is recalling 257,000 Dodge Ram pickups. The auto maker says the rear axle pinion nut on certain model year 2005 Dodge Ram 1500 trucks may loosen due to an undersized spline on the pinion gear. If the pinion nut loosens, the rear axle may... This medical device company has a very impressive track record of growing business over the past decade. increasing sales from $490.2 million in 2004 to $1.72 billion this year. The Silicone Hydrogel daily disposable lens portfolio constitutes a major avenue for growth.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.