Qatar Holding and Singapore's biggest sovereign wealth fund GIC have committed to underwrite a significant portion of UK Prudential's $20 billion rights issue.
GIC is an existing shareholder, with a 0.5 percent stake in Prudential,
Britain's Prudential confirmed it is in advanced talks to buy the Asian arm of AIG in a deal that would make the insurer the undisputed leader in one of the world's fastest-growing financial services markets.
The proposed acquisiti
American International Group (AIG) agreed to the sale of its Asian life insurance unit to Britain's Prudential for about $35.5 billion, in a deal that would help the US government get back billions of its bailout money, sources said.
The Asian fund arm of UK insurer Prudential Plc said on Thursday it received approval to launch a Saudi Arabian joint venture, its latest move to gain exposure to high-growth emerging markets.
Prudential Asset Management, which operates in
Prudential's Asia fund arm plans to launch at least two new equity products this year, including sharia and India-Asia funds it hopes will raise at least $150 million each, Prudential executives said.
The Shari'a Asian Equity Fund would be