First-Half 2017 - Prudential Announces Merger of Its U.K. and European Operations
Prudential reported half-year operating profit of GBP 2.4 billion, slightly ahead of our expectations. The results of Prudential continue to be driven by its largest two units in America (Jackson Life) and Asia. We maintain our GBP 15.0 fair value estimate and no-moat rating.Jackson life reported operating profit of just over GBP 1 billion, up 7% on the prior year. At the moment, Jackson is showing it was prepared for the Department of Labour rule reforms implemented on June 9 since which it ha...
Prudential is a parent holding company. Co., together with its subsidiaries, is an international financial services group with its principal operations in Asia, the U.S. and the U.K. In Asia, Co. has operations in Hong Kong, Indonesia, Malaysia, Singapore and other markets. In the U.S., Co.'s principal subsidiary is Jackson National Life Insurance Company. In the U.K., Co. operates through its subsidiaries, primarily The Prudential Assurance Company Limited and M&G Investment Management Limited. Co. provides a range of retail financial products and services and asset management services throughout these territories.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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