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Insurance giant Prudential is paying out £4 million in redress to thousands of policyholders who lost money following an administrative blunder.
Prudential yesterday said chief executive Tidjane Thiam's 2010 bonus would be paid in deferred shares, rather than 50 per cent cash, after the insurer racked up big costs in a failed bid for AIA last year.
Life insurer Legal & General yesterday cheered investors with a better-than-expected dividend hike despite lower profits and said it was poised to cash in on cutbacks in state pensions and welfare payouts.
INSURANCE giant Prudential surprised shareholders by proposing a 20 per cent increase in its final dividend yesterday as it posted results that impressed the City and helped put last year's failed takeover of American Investment Group's Asian business behind it.
The chief executive of insurer Prudential could be awarded a bonus worth up to £4.3 million this week, it was reported yesterday.
CHINESE investors are believed to be considering buying a strategic stake in Prudential or even making a bid for the UK insurer's Asian business.
Prudential's efforts to rebuild bridges with investors over its botched Asian deal-making were given a boost yesterday when first-half profits topped City forecasts.
PRUDENTIAL will outstrip City forecasts this week when it reports robust interim results that it hopes will defuse calls for a boardroom clear-out following the failed £24 billion bid for AIG's Asian operations.
BAILED-out American insurance giant AIG is expected to turn the tables on the Prudential and launch a bid for some or all of the UK insurer following an IPO of its Asian business, analysts have said.
PRUDENTIAL is planning to hire two directors in a move that could pave the way for the departure of chairman Harvey McGrath, reports said yesterday.
FUND manager Fidelity is expected to call for the resignation of Prudential's chairman when it meets the insurer today.
THE board of insurer Prudential yesterday faced down calls to resign over its aborted bid for AIG's Asian unit as it unveiled strong sales figures.
Chief executive Tidjane Thiam is under pressure over AIA
PRUDENTIAL boss Tidjane Thiam yesterday apologised for "mistakes" in the abortive $35 billion (£24.3bn) bid for AIG's Asian arm, AIA, and said he would resign if shareholders wanted him to go.
PRUDENTIAL chief executive Tidjane Thiam's job hung in the balance yesterday as some investors suggested his head should roll for the embarrassing failure of the insurer's $35.5 billion (£24bn) bid for AIG's Asian arm, AIA.
PRUDENTIAL's blockbuster bid for AIG's Asian business was on the brink of collapse last night after it failed to secure a price cut from $35 billion (£23.8bn) to $30.38bn.
PRUDENTIAL boss Tidjane Thiam returned from the US yesterday as hopes rose that late-night talks might succeed in cutting 10 per cent from the Pru's $35.5bn (£24bn) takeover bid for AIG Asia.
SPECULATION was mounting last night that Prudential may walk away from its blockbusting deal to swallow the Asian arm of US insurer AIG if it cannot renegotiate the price.