Editing Prudential plc (section)

===21st century===

In February 2002, [[Churchill Insurance|Churchill]] bought Prudential's general insurance business.<ref>{{cite web|url=https://www.insurancetimes.co.uk/churchill-set-to-cull-pru-suppliers/1350407.article|title=Churchill set to cull Pru suppliers|work=Insurance Times|date=31 January 2002|access-date=11 May 2020}}</ref>

In October 2004, Prudential launched a new subsidiary, [[PruHealth]], a joint venture with Discovery Holdings of South Africa selling [[Health insurance|private medical insurance]] to the UK market.<ref>[http://news.bbc.co.uk/1/hi/business/3706970.stm Insurance boon for health conscious]. [[BBC News]], 2004.</ref> In April 2008, Prudential outsourced its back office functions to [[Capita]]: about 3,000 jobs were transferred (1,000 in [[Stirling]], 750 in [[Reading, Berkshire|Reading]] and 1,250 in [[Mumbai]]).<ref>[http://news.bbc.co.uk/1/hi/scotland/tayside_and_central/7116240.stm Prudential jobs deal with Capita] BBC News, 2007</ref> This significant outsourcing deal, worth an estimated £722m over a 15-year contract, built on Prudential's existing relationship with Capita, who took over its [[Belfast]] operation in 2006 along with about 450 employees in a smaller operational restructure.<ref>[http://findarticles.com/p/articles/mi_qn4158/is_20060817/ai_n16640437 Prudential outsources 450 jobs in Belfast to Capita Group]. ''[[The Independent]]'', 17 August 2006.</ref>

On 1 March 2010, Prudential announced that it was in "advanced talks" to purchase the pan-Asian life insurance company of [[AIG]], [[American International Assurance]] (AIA) for approximately £23&nbsp;billion.<ref>{{Cite web|url=https://www.theguardian.com/business/2010/mar/01/prudential-american-international-assurance-merger |title=Prudential gambles on Asia with $35bn deal |work=The Guardian|date=1 March 2010 |access-date=18 April 2011}}</ref> The deal later collapsed, and AIA ended up raising money in an IPO.<ref>{{cite news|url=https://www.bbc.co.uk/news/10211773|title=Prudential abandons bid for AIA|date=2 June 2010|publisher=BBC News|access-date=25 March 2012}}</ref>

In December 2013, Prudential announced the purchase of Ghana's Express Life Company. Express Life was subsequently rebranded as Prudential Ghana.<ref name="Prudential Moves into Insurance in Ghana">{{Cite web|url=http://www.ft.com/cms/s/0/4b1536b8-5daa-11e3-b3e8-00144feabdc0.html#axzz3RLb8NVxE |title=Prudential Moves into Insurance in Ghana |work=The Financial Times| access-date=5 December 2013}}</ref> In April 2014, Prudential launched two corporate responsibility initiatives to support education in Ghana: the Prudential Scholarship Programme for more than 500 senior high school students, in partnership with the NGO Plan Ghana; and a scheme to support actuarial science graduates.<ref>{{cite web|url=http://thebftonline.com/content/prudential-increases-capital-base%E2%80%A6-it-opens-business|title=Prudential Increases Capital Base|date=25 April 2014|work=Business and Financial Times|access-date=25 April 2014|archive-url=https://web.archive.org/web/20140803191416/http://thebftonline.com/content/prudential-increases-capital-base%E2%80%A6-it-opens-business|archive-date=3 August 2014|url-status=dead}}</ref> In September 2014, Prudential purchased Kenyan life insurer Shield Assurance and rebranded it as Prudential Kenya, further expanding the company's presence in Africa.<ref name="Prudential Buys Kenyan Insurer in Second African Purchase">{{Cite news|url=https://www.bloomberg.com/news/articles/2014-09-16/prudential-buys-kenyan-insurer-in-second-africa-purchase |title=Prudential Buys Kenyan Insurer in Second African Purchase |publisher=Bloomberg Business | access-date=16 September 2014 |first=Sarah |last=Jones |date=16 September 2014}}</ref> Prudential has since entered six other African countries – Uganda in 2015, Zambia in 2016, Nigeria in 2017, Cameroon, Côte d'Ivoire and Togo in 2019.<ref>{{cite web|url=http://thenationonlineng.net/uks-prudential-becomes-majority-investor-zenith-life-assurance/|title=UK's Prudential becomes majority investor in Zenith Life Assurance|author=Taofik Salako|work=thenationonlineng.net|date=4 September 2017 |access-date=4 September 2017}}</ref>

On 10 March 2015, it was announced that the CEO, [[Tidjane Thiam]], would leave Prudential to become the next CEO of [[Credit Suisse]].<ref name=Guardian>{{cite news|last1=Milmo|first1=Dan|title=Prudential's Tidjane Thiam to take top role at Credit Suisse|url=https://www.theguardian.com/business/2015/mar/10/prudentials-tidjane-thiam-to-take-top-role-at-credit-suisse|access-date=10 March 2015|work=The Guardian|date=10 March 2015}}</ref> On 1 May 2015, it was announced that [[Mike Wells (businessman)|Mike Wells]], head of the company's US business, would succeed Tidjane Thiam as CEO, on a pay package worth up to £7.5 million.<ref>{{cite web|url=https://www.theguardian.com/business/2015/may/01/prudential-appoints-new-ceo-on-75m-pay-package |title=Prudential appoints new CEO on £7.5m pay package|author=Julia Kollewe|work=The Guardian|date=May 2015 |access-date=26 March 2016}}</ref>

In August 2017, it was announced that Prudential was to combine its asset manager, M&G, and Prudential UK & Europe to form [[M&G|M&GPrudential]].<ref>{{Cite news|url=https://www.ft.com/content/9abc0bfa-7de1-11e7-ab01-a13271d1ee9c |title=Prudential announces merger of M&G and Prudential UK & Europe |publisher=FT.com | access-date=12 December 2017}}</ref>

In November 2017, Prudential announced the change in the name of its joint venture with Chinese investment company CITIC to "CITIC Prudential Life Insurance Company Limited".<ref>{{Cite news|url=http://finance.sina.com.cn/roll/2017-11-29/doc-ifyphkhk8754635.shtml |title=Prudential changes name of Chinese joint venture |publisher=Sina Finance | access-date=12 December 2017}}</ref>

In March 2018, Prudential announced that it would demerge M&GPrudential from the Group;<ref>{{cite news|url=https://www.telegraph.co.uk/business/2018/03/14/prudential-spin-mg-separate-business/|title=Prudential unveils radical overhaul as it splits itself in two FTSE 100 firms|author=Lucy Burton|work=The Telegraph|date=14 March 2018 |access-date=14 March 2018}}</ref> the demerger was completed on 21 October 2019.<ref>{{Cite news|url=https://www.thetimes.com/business-money/markets/article/m-g-makes-its-debut-after-demerger-from-prudential-lwzgsb9st|title=M&G makes its debut after demerger from Prudential|last=Senior City Correspondent|first=Ben Martin|date=2019-10-21|work=The Times|access-date=2019-10-21|language=en|issn=0140-0460}}</ref>

In 2021, the company demerged its US business Jackson National Life leaving it focused solely on African and Asian markets.<ref>{{cite news|url=https://www.ft.com/content/50a710b5-1ae9-4525-bb88-d5e584e00fdd|title=Prudential carve-up set to complete next month|newspaper=Financial Times|date=11 August 2021|access-date=13 September 2021}}</ref> 

As of March 2022, 60 percent of Prudential's head office staff were based in Hong Kong, and fewer than 200 employees were in London.<ref>{{Cite web |title=Prudential hit by China's zero-Covid policy |url=https://www.ft.com/content/0c3f71e4-fd1d-481e-956f-85a8f528625e |access-date=2024-07-02 |website=www.ft.com|date=10 August 2022 |last1=Kinder |first1=Tabby }}</ref>