Prudential announces plan to demerge M&G and focus on Asia

Prudential plc today set out plans to demerge M&G, creating two separately listed companies and sharpening Prudential’s focus on its Asia-led growth portfolio.

M&G plc was formed in 2017 by combining Prudential plc’s UK and Europe savings and insurance operation with M&G, its wholly owned international investment manager.

The demerger was completed on 21 October, when M&G plc began operating as a standalone listed company.

At completion of the demerger on 21 October 2019, John Foley was chief executive of M&G.

On completion, M&G shares were admitted to trading on the London Stock Exchange’s main market under the ticker symbol MNG.

As an independent company, M&G plc adopted a single corporate identity while continuing to operate two customer-facing brands: Prudential for savings and insurance customers in the UK and Europe and for asset management in South Africa, and M&G Investments for asset management clients globally.

Prudential and M&G each retained a UK domicile after the demerger, with Prudential plc stating that both businesses would be able to allocate capital more effectively as separate entities.

M&G plc is incorporated and registered in England and Wales with registered number 11444019.

M&G plc is the direct parent company of The Prudential Assurance Company Limited.