The London-based insurer will pay US$25 billion in cash and US$10.5 billion in stock and other securities for AIA Group Ltd.
According to Bloomberg.com, Prudential is trying to boost sales in Asia as growth in the UK declines. AIA has more than 90 years in Asia, 20 million customers and more than $60 billion in assets across 13 markets spanning China to Australia.
According to Bloomberg.com, Prudential is trying to boost sales in Asia as growth in the UK declines. AIA has more than 90 years in Asia, 20 million customers and more than $60 billion in assets across 13 markets spanning China to Australia.
The takeover will make Prudential the biggest foreign insurer in Asia, increasing the proportion of its profits generated in the region to between two thirds and three quarters, from about half currently, states an article on Reuters.com.
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