Financial Times FT.com

Pru sells Taiwan unit and frees capital

By Andrea Felsted and Robin Kwong

Published: February 20 2009 09:15 | Last updated: February 20 2009 19:44

Prudential has sought to reassure investors on its financial strength, striking deals to offload its troubled Taiwanese business and free capital tied up in its life fund.

The shares rose 28½p to 285p after the life assurer said it had £1.7bn of surplus capital under European rules, which would rise to £2.5bn after a deal with China Life of Taiwan.

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