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Prudential is to close its lifetime mortgages division with the loss of about 100 jobs in Reading, London and Stirling. 26-Nov-2009 Prudential is considering plans to relocate its headquarters to either Ireland or the Netherlands. 18-Sep-2008 Prudential is to outsource some of its life and pensions administration work to Capita, in a £772m deal that will involve the transfer of 3,000 staff in Reading, Stirling and India. 29-Nov-2007 Prudential has sold its PPM Capital private equity division to management for undisclosed terms. 12-Nov-2007 Prudential is considering plans to outsource or offshore the jobs of up to 2,000 UK-based staff, as part of a strategy to make annual cost savings of £195m by 2010. 16-Mar-2007 Prudential is planning to shed 130 jobs in Cragforth near Stirling and 80 in Reading over the next 18 months, in order to transfer more work to India. 08-Feb-2007 Prudential is to sell Egg, the Derby-based internet bank with more than 2,000 staff, to Citigroup for £575m. 30-Jan-2007 Prudential is looking into the possibility of transferring IT work offshore, which could affect up to 550 jobs at its Prutech operation, including 250 in Reading. 13-Oct-2006 Prudential is to outsource 450 sales and administration call centre jobs in Belfast to Capita Group. 18-Aug-2006 Prudential is to close its former Holborn Bar head office in London, as well as sites in Belfast and Bristol, in order to relocate 700 jobs to India and other parts of the UK. 27-Apr-2006 Aviva has made a £17bn takeover approach for rival insurance company Prudential. 20-Mar-2006 Prudential has announced plans to shed up to 80 jobs at finance offices in Stirling and Reading. 08-Mar-2006 Prudential is to acquire Life Assurance Company of Georgia from ING for £137m, in order to expand its Jackson National Life business in the US. 22-Nov-2004 Prudential is in talks to sell its 79% stake in Egg, the online bank, in order to raise about £1bn for acquisitions. 15-Jan-2004 Prudential is planning to spend £100m a year expanding its life assurance operations in Asia, and hopes to open branches in 16 Chinese cities. 28-Aug-2003 Prudential has closed its French insurance business and any remaining work will be handled by its Dublin office. 16-Jun-2003 Prudential is to shed 150 jobs in Reading with the relocation of its Direct to Customers telesales unit to Belfast early next year. 05-Dec-2002 Prudential is to sell its German life insurance business to Canada Life for £82m. 15-Nov-2002 Prudential is planning to transfer 850 life and pension call centre jobs and 100 support jobs from Reading to India. 30-Sep-2002 Prudential has acquired Good Morning Investment Trust Management of South Korea for £14m. 17-Sep-2002 Prudential has awarded a multi-million pound contract to Jardine Lloyd Thompson for the provision of pension administration services, and 50 Prudential staff will transfer to JLT. 24-Jul-2002 Prudential is to acquire ING's life insurance business in the Philippines, which includes 17 offices and 100 staff. 19-Jun-2002 Prudential is said to be planning to set up a new 38,000 sq ft divisional office at the PaddingtonCentral development in London. 11-Feb-2002 Prudential is to sell its general insurance business to Winterthur of Switzerland for £353m, and has also announced plans to shed up to 2,100 jobs at sites in London, Reading, Belfast and Stirling. 02-Nov-2001 Prudential is to acquire YoungPoong Life, the South Korean insurance company, from Korea Zinc for £20m. 23-Oct-2001 Prudential has terminated a £35m contract with Unisys for the development of systems for the online processing of new pensions and policies, and may look for a new partner. 13-Sep-2001 Prudential's Scottish Amicable business is to stop selling mortgage protection and investment products through tied providers, and the affected staff will be absorbed into other parts of the business at Craigforth in Stirling. 04-Sep-2001 Prudential is launching an online insurance broking business called Quinner in Germany. 30-May-2001 Prudential has announced plans to transfer up to 2,000 sales staff to Inter-Alliance, the independent financial adviser. 07-May-2001 Prudential is to acquire American General of the US in a £15bn all-share deal, as part of a strategy to create a global financial services group. 13-Mar-2001 Prudential is to shed 2,000 jobs in order to improve margins in its life assurance business, which will involve 250 job losses in Reading and the closure of its direct sales force to concentrate on telephone and internet sales. 14-Feb-2001 Prudential has acquired Orico Life Insurance of Japan for £133m, and now plans to introduce new products and distribution channels to the Japanese market. 24-Jan-2001 Prudential is to buy 88% of Core Pacific Securities Investment Trust Enterprise, the Taiwanese mutual fund company, for £71m, in order to expand its Asian business. 11-Oct-2000 Prudential is to set up a second call centre for its Egg internet bank in Derby, with the creation of 1,500 jobs. 04-Aug-2000 Prudential has announced plans for the £100m redevelopment of the Arndale centre in Manchester, which will provide an additional 300,000 sq ft of retail space. 03-Aug-2000 Prudential is to acquire Highland Federal Bank of southern California for £75m, through its US-based Jackson National Life subsidiary. 26-Apr-2000 Boots and Prudential are to launch the first combined credit and loyalty card, which will involve Boots taking commission on the sale of financial services to its customers and the creation of 200 new jobs at Prudential's Derby call centre. 13-Apr-2000 Prudential is to acquire a 37.5% stake in IFonline, the electronic trading platform for mortgages, at a cost of £15m. 10-Apr-2000 Prudential is to quit the segregated pensions market by transferring its balanced funds division, which includes a £12bn asset pool, to Deutsche Asset Management for undisclosed terms. 23-Mar-2000 Prudential is planning to float up to 25% of its Egg internet bank later this year, giving the business a valuation of about £2.75bn. 24-Feb-2000 Prudential is forming a £16m joint venture with China International Trust & Investment Corporation to provide life assurance in the city of Guangzhou. 21-Dec-1999 Prudential is forming alliances with CNP Assurances of France and Signal Iduna of Germany, as part of a strategy to sell co-branded insurance products in continental Europe. 25-Nov-1999 Prudential is to cut almost 1,500 jobs, which will involve closing all 103 support branches, shedding a quarter of the direct sales force, and a further 200 job losses in its Scottish Amicable business. 03-Nov-1999 Prudential has submitted plans for a retail and residential scheme at the Shambles Square in Manchester, including a department store. 16-Oct-1999 Prudential is acquiring a 58% stake in Chinfon Life Insurance of Taiwan for £21m, as part of an ongoing strategy to expand in Asia. 01-Oct-1999 Prudential is considering plans to float its Egg direct banking business next year. 27-Sep-1999 Prudential is to invest up to £150m in its Egg banking division this year, and aims to launch new internet-based personal finance and investment businesses. 30-Jul-1999 Prudential has launched an internet-only bank account through its Egg banking division. 21-Jul-1999 Prudential is to acquire Hung Fu Life Insurance Company of Taiwan for £30m, as part of a strategy to expand in northern Asia. 01-Jul-1999 Prudential is planning a £22m extension at its Grafton shopping centre in Cambridge, creating 17 new shops. 25-Jun-1999 Prudential is to cut 4,000 jobs at a cost of £150m, as part of a restructuring programme that also involve contracting out its door-to-door cash collection business and the consolidation of its general insurance centres from four to three. 18-Jun-1999 Prudential is seeking partners in Germany and France in order to build up a presence in the continental European pensions market. 01-Jun-1999 Prudential is to stop taking new telephone customers for its Egg banking division in order to prevent further losses, but it will continue to take accept new savings over the internet. 28-Apr-1999 Prudential is to cut 250 jobs, due to a reduced requirement for head office support functions following the restructuring of its retail operations. 15-Apr-1999 Prudential has won approval to set up an office and form joint ventures in China, and expects to start offering life assurance by the end of this year. 06-Apr-1999 Prudential has agreed a £1.9bn deal to acquire M&G Group, the fund manager, which is expected to create the UK's largest unit trust provider. 12-Mar-1999 Prudential has dropped plans to buy a bank due to the success of its Egg direct banking service, and will instead focus on the development of Egg's mortgage and loan activities. 25-Feb-1999 Prudential is to launch a range of retail funds and other investment products for customers of its Egg direct banking service. 20-Jan-1999 Prudential's PPM Ventures division has acquired a 79% stake in Orefi, the French industrial parts distributor, in a £75m deal. 17-Dec-1998 Prudential is to resume selective recruitment of sales staff, following an 18-month suspension that has resulted in numbers falling from 5,000 to about 3,000. 16-Dec-1998 Prudential has bought the Galleries shopping complex and surrounding land in Washington, Tyne & Wear, in a £70m deal, which could pave the way for a major redevelopment of the town centre. 24-Nov-1998 Prudential is recruiting an additional 250 people at its call centre in Derby to cope with demand for its new Egg banking service. 20-Oct-1998 Prudential is launching a direct banking operation called Egg, which will operate via the telephone, the internet and the post, and include mortgages, savings accounts and personal loans. 06-Oct-1998 Prudential is closing two of its branches in Billingham and Darlington and the business will be transferred to branches in York and Gateshead. 01-Oct-1998 Prudential, the life assurer, is reorganising its salesforce with the loss of about 300 jobs and a new pay structure that will reduce the emphasis on commissions and increase the basic salary. 28-Sep-1998 Prudential, the insurance company, is considering plans to move from its offices in central Reading to its Green Park campus outside the town. 18-Sep-1998 Prudential is selling its Australian and New Zealand operations to Colonial of Australia for £495m, prompting speculation that it may use the proceeds to acquire a UK branch network. 18-Aug-1998 Prudential is planning to expand the recently-acquired head office of Scottish Amicable in Stirling, with the creation of 500 jobs. 06-Aug-1998 Prudential has increased its stake in the Bluewater retail and leisure development in Kent from 15% to 35% for undisclosed terms, and has an option to acquire up to 50%. 18-Jul-1998 Prudential is planning to increase its stake in its Malaysian business, Berjaya Prudential Assurance, from 30% to 51% at a cost of £34m. 06-Jun-1998 Prudential is looking to re-enter the life assurance markets of continental Europe, as part of a strategy to build up a global financial services business. 08-May-1998 Prudential has withdrawn its £240m attempt to buy the Cunard cruise line from Kvaerner, as it believes that other parties have come in with higher bids. 14-Mar-1998 Prudential has dropped plans to buy a bank or building society, and will instead focus on building up its own direct banking business. 26-Feb-1998 Prudential is to create 1,500 jobs at a new £25m direct banking centre in Derby. 07-Feb-1998 Prudential, the life insurer, is planning to move from its Holborn Bars headquarters in central London, and is looking for a new site in the City. 30-Jan-1998 Prudential is increasing its stake in Berjaya Prudential Assurance, the Malaysian life insurer, from 30% to 51%, but it will not be able to take full control due to restrictions on foreign ownership of Malaysian insurance companies. 28-Jan-1998 Prudential is said to be discussing the acquisition of Cunard, the cruise line owned by Kvaerner. 06-Nov-1997 Prudential has increased its provision for compensating victims of pension mis-selling from £240m to £450m, in order to increase the speed at which it is clearing up cases. 07-Aug-1997 National Westminster Bank and Prudential Corporation have terminated merger discussions due to failure to agree terms. 19-Jul-1997 Prudential is to close Scottish Amicable's investment management operation in Glasgow, moving £15bn of investments to its own fund management operation, and selling £800m of business to Britannia Building Society. 08-Jul-1997 Prudential has been ordered by the Securities and Investments Board to re-test its 5,500 sales personnel following accusations that they have been wrongly advising non-taxpaying clients to use the Prudential Savings Account. 04-Jun-1997 Prudential is linking up with Industrial Credit and Investment Corp of India to prepare for the possible opening up of the Indian life insurance market to foreign competition. 22-Apr-1997 Royal & Sun Alliance is acquiring the Italian life assurance and pensions business of Prudential for £46m. 11-Apr-1997 Prudential has acquired the New Zealand life business of General Accident for £70m. 27-Mar-1997 Prudential Corporation is acquiring Scottish Amicable, the mutual life insurer, for £2.87bn, and will pay policyholders average windfalls of £1,400. 26-Mar-1997 Prudential has made a takeover bid of £1.9bn for Scottish Amicable, thus topping the offer made by Abbey National. 06-Feb-1997 Prudential has been fined £75,000 by the Investment Management Regulatory Organisation for breaching rules on personal equity plans between 1988 and 1994. 28-Jan-1997 Prudential, the life insurer, has launched a branchless deposit-taking and mortgage lending operation, as part of a strategy to compete with banks and building societies. 26-Sep-1996 Prudential Corp is in discussions to sell its Mercantile & General reinsurance subsidiary, with Swiss Reinsurance said to be one of the interested parties. 24-Aug-1996 The Prudential has sold Leven, its Dutch life assurance operation, to Achmea Group for undisclosed terms. 11-Jul-1996 Prudential Corporation is planning to float its Mercantile & General reinsurance business at a value of up to £1.5bn, and concentrate more on life assurance and retail banking. 26-Jun-1996 Prudential, the life assurance group, is undergoing a strategic review and is said to be considering the sale or flotation of Mercantile & General, its reinsurance business. 15-May-1996 Prudential has been revealed as a potential buyer of Friends Provident, the mutual life assurer, along with Sun Alliance and Abbey National. 23-Apr-1996 Prudential is looking to re-enter the Indian insurance market and hopes to get a government licence to start a joint venture within two years. 13-Mar-1996 The Prudential has outsourced its global custody of securities to Midland Bank and Mellon Bank of the US. 10-Jan-1996 Prudential is to be the first major life assurance company to move in to banking and also offer mortgages. 25-Oct-1995 Prudential is looking to buy other life companies, as it refocuses its activities. 14-Sep-1995
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