Prudential UK & Europe

Prudential is a leading provider of
retirement savings and income solutions
and life assurance in the UK and has a
unique combination of competitive
advantages including its significant
longevity experience, multi-asset
investment capabilities, brand and
financial strength.
Headline figures
— Retail sales down eight per cent for the first half
of 2009
— One of the largest annuity providers in the UK,
with approximately 1.5 million annuities in payment
— A leading player in the with-profits and corporate
pensions markets
Prudential UK's Retail business is focusing on
savings and income for those customers nearing
or in retirement. The strategy in the Wholesale
business is to participate selectively in the bulk
annuity and back-book markets, maintaining a strict
focus on value and only participating in transactions
that meet our return on capital requirements.
In the first half of 2009, Prudential UK maintained
its strict focus on value creation, continuing to
concentrate on balancing profitable new business
with capital conservation and cash generation.
Prudential UK provides a range of products and
services, including:
Retail products
— Individual annuities
— Income drawdown
— Individual and corporate pensions
— With-profits and unit-linked bonds
— Protection
— Lifetime mortgages
— Health insurance
Wholesale products
— Bulk annuities
— Annuity back-books
Prudential UK has continued to develop its range
of retirement income solutions. This includes a new
enhanced annuity and lifestyle pricing for non-profit
individual annuities. Since October 2008 PruFund,
Prudential UK's unitised and smoothed investment
plan, has been available across its range of tax
wrappers, including individual pensions, income
drawdown and onshore and offshore bonds.
Prudential UK also launched the new PruSelect
range of unit-linked funds across its UK pensions
and investments products, more than doubling
the number of funds available. In July 2009, the
PruFund range of investments was extended with
the launch of the PruFund Cautious series which will
sit alongside the PruFund Growth series as a fund
link within Prudential's Flexible Investment Plan,
an on-shore bond wrapper.
Product distribution channels
— Business to business (consulting actuaries
and benefit advisers)
— Partnerships (affinities and banks)
— Financial advisers
— Direct to customers (telephone, internet,
mail and face-to-face advice for Lifetime
Mortgages)
Customers: Approximately seven million
Staff: Approximately 2,800
Locations: London, Reading, Stirling,
Dublin, Mumbai
.
Correct at 30 June 2009 unless otherwise stated.
|