Prudential 2020 operating profit rises 4% By Reuters

LONDON (Reuters) – Prudential (LON:PRU)’s operating profit rose 4% in 2020, Britain’s largest insurer said on Wednesday, driven by strength in its main Asian business.

Adjusted operating profit from continuing operations came in at $5.5 billion, the company said in a trading statement.

The life insurer said in January it would split off its U.S. business Jackson through a demerger and may raise $2.5-3 billion in new equity, following pressure from activist investor Third Point.

It said on Wednesday that it was making “good progress” on the separation.