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 .