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Prudential reports 17 percent rise in life insurance new business profit


A man walks past a prudential sign outside the city of London on March 27, 2013. Prudential Plc has been fined for 30 million pounds ($ 45.5 million) and has been publicly censured for failing to inform Britain's financial watchdog about an ill-fated Asian takeover. REUTERS / Luke MacGregor (BRITAIN – Tags: BUSINESS)

(Reuters) – Prudential Plc (PRU.L), Britain's largest insurer, reported a 17 percent rise in its life insurance business for the first nine months of the year on Wednesday, driven by another robust performance in Asia.

The life insurer, which has a market value of around 42 billion pounds, is in the process of demarking that will see the UK and European insurance and asset management units of the 170-year-old company split off into a separate company.

The planned demerger of M & G Prudential was on track, Prudential said in a business performance update ahead of an investor day event in Singapore.

Reporting by Chandini Monnappa in Bengaluru; Editing by Sriraj Kalluvila

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