Prudential seeking to appease investors with growth plans

26 January 2005
Insurer Prudential is looking to heavily expand its UK life and pensions operations, to try and appease investors unconvinced by last year's £1 billion rights issue.

The Prudential is looking to double the market growth rate, according to the Financial Times.

Last year the company was heavily criticised following its rights issue, with many investors saying the move represented a strategic U-turn.

But Prudential is now confident its renewed efforts will boost its UK business over the coming year.

It predicts that the UK life and pensions market will grow by 6 to 7 per cent in volume in each of the next 2 to 3 years, but is seeking to grow its own sales 12 to 14 per cent a year.

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