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Revamped Pru faces up to an old problem

August 31, 2023
Source: reuters.com reuters.com
News Snapshot:
HONG KONG, Aug 31 (Reuters Breakingviews) - Prudential’s (PRU.L), new CEO has inherited an old problem. Though boss Anil Wadhwani delivered a solid set of results on Wednesday, the insurer’s valuation lags stubbornly behind rival AIA (1299.HK). The pressure is on to prove that Prudential’s decision to shed its British and U.S. assets justifies the upheaval. It’s more than a year since the Pru – not to be confused with the U.S. group of the same name - transformed itself. After chopping off its historic UK roots in 2019 and listing U.S.-based Jackson National Life two years later, Greater China...
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