And so the end-game at the once-sprawling financial conglomerate that is Prudential finally is being played out. Gone is the M&G asset manager, hived off more than a year ago into a separately listed company, now in the FTSE 100, along with the UK and European life insurance business. After a gentle shove from hedge fund investors at Third Point, the break-up of the insurer should largely be complete over the coming months with the demerger and listing of Jackson National Life, the American division.
What will be left is a business focused entirely on Asia, along with a small Africa operation — a long-term desire of senior management going back more than two decades.
The process has hardly been smooth. What started as
