Insurer Prudential says M&GPrudential's cost savings on track

The logo of British life insurer Prudential is seen on their building in London, Britain March 17, 2019. REUTERS/Simon Dawson - Copyright SIMON DAWSON(Reuters)

By Reuters

Published on 03/07/2019 - 13:05•Updated 25/04/2024 - 08:58

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(Reuters) - Britain's biggest insurer Prudential Plc <PRU.L> said on Wednesday that investments in M&GPrudential was on track to deliver an annual cost savings of about 145 million pounds ($182.22 million) by 2022.

M&GPrudential was formed in 2017 by the merger of asset manager M&G and Prudential's UK and Europe insurance operations.

"Profitable growth prospects for M&GPrudential are substantial," Prudential said in a statement ahead of M&GPrudential's investor and analyst conference.

($1 = 0.7957 pounds)

(Reporting by Sangameswaran S in Bengaluru)

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