Insurers mull listings of M&G and SLI

Insurance giants Prudential and Standard Life are considering partial sales of their asset management arms.

The successful IPO of Jupiter earlier this year is thought to have alerted both Standard Life and Prudential of the possible gains to be made from either floating or partially selling fund management arms Standard Life Investments (SLI) and M&G, the Independent reports. Jupiter, which entered the FTSE 250, has seen its shares soar 53.6% to 253.5p after entering the market at 165p. However, the plight of Gartmore does prove there are pitfalls, with the group's share price languishing at about half the listing price. The paper says both insurance companies would keep small teams to ...