Prudential has announced strong interim results with sales topping £10bn and profits of £677m.
Prudential’s pensions operations saw considerable growth during the first half of 2001 with occupational DC business providing a further 55,000 employees with pensions.
Prudential’s share of the local authority AVC market showed significant gains – partly due to current troubles at Equitable Life – and grew from 25pc to 46pc, covering 45 schemes.
Prudential group chief executive Jonathan Bloomer said: “Prudential’s new business sales and interim profits show strong group performance. This has been achieved against a backdrop of an increasingly competitive environment and adverse market conditions in some areas.”
In the run up to the October 8 deadline for stakeholder, Prudential has also registered over 9,000 companies which in total employ more than 340,000 people.
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The People's Pension has revealed plans to overhaul its charging structure, cutting fees and returning profits to members with an aim to help people save more money for retirement.
Data consultancy ITM has appointed Akash Rooprai as head of client management to lead its de-risking business.