The Prudential insurance company of the UK is aiming to claim up to 9 billion in surplus assets currently sitting in its life funds, according to a report in the Financial Times.
The newspaper says the Pru is looking to negotiate with policyholder representatives over the ownership of the funds, which are surplus to the amounts that they are contractually entitled to claim.
“It would be beneficial to have further clarity on the status of the inherited estate, but no decision has been taken, and none will be taken unless there are clear benefits to both policyholders and shareholders,” a Prudential spokesman told Forbes News.