Prudential decides not to proceed with a reattribution of its inherited estate
As you will know, we have been considering the reattribution of the inherited estate held in the With-Profits Sub-Fund (WPSF) of The Prudential Assurance Company Limited (PAC).
After extensive assessment, we have concluded that maintaining the current operating model for the WPSF is in the best long-term interest of both current and future policyholders and shareholders. As such, we have decided not to proceed with a reattribution.
The whole of the Inherited Estate is required, and it will remain as the working capital of Prudential's With-Profits Sub-Fund, helping to support continued superior investment performance, security and the ongoing financial strength of the fund for the benefit of current and future policyholders.
The nominated Policyholder Advocate, Peter Bloxham, and our industry regulator, the Financial Services Authority have been informed of this decision.
Policyholders need take no action as a result of today's announcement.
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