Prudential Eyeing Asian Region To Raise Capital
Published: 11-Sep-2009
To safeguard the group against the crisis of confidence spread across the markets due to the ongoing financial crisis
The UK-based insurer, Prudential is seeing Asia as a source of capital and may even want to raise equity in the region, after the success of a $750 million hybrid capital raising in this year – reported The Financial Times.
Reportedly, Tidjane Thiam, who takes over as CEO of Prudential on October 1, said that the company would like to diversify its shareholder base away from the UK to better reflect the sources and diversity in its business.
He said: "It's a great opportunity for us because there is so much wealth being created there and therefore it is also a source of capital for the world. In the future, things change and we could revisit that but today it's a core part of our strategy, it's very important to the group and frankly it allows us to be successful."
However, he added that "the UK and, particularly, the with-profits business was a central part of the strategy today, although in the future, things change and we could revisit that,” reported the newspaper.
Delicious
Digg
Reddit
Stumble
Facebook
LinkedInNetwork Sites
Mail sent successfully
Suppliers To This Sector
Browse A-Z
White Papers
Browse A-Z
Use of Voice Biometrics in Smart Card Applications
Many organisations have implemented or are looking into smart card solutions. The objectiv ...
Tower Group Report: Global Exchange Consolidation
This 12-page TowerGroup report analyses the rapidly consolidating exchange market, examine ...
The Value of a Comprehensive Integration Solution
Many enterprises are currently spending more on integration-related projects than they nee ...
The Next Big Thing
Before the credit crisis, lenders started to look more strategically at outsourcing as a v ...
The Business Case for Automating Document Driven Business Processes
This white paper provides a compelling case for taking an enterprise approach to automatin ...
The Benefits Of Automation For The Front Office
The increase in ultra high net worth families around the world — especially in the emergin ...
