Boris pleads with Pru after relocation threats

Last week, The Prudential threatened to move out of the European Union over fears it will not be able to cope with Solvency II (SII) capital requirements. Johnson, who is campaigning against Labour nemesis Ken Livingstone to be re-elected in May, wrote to Pru chief executive Tidjane Thiam and chairman Harvey McGrath to express his concern at the potential move. In his letter, Johnson pledged to campaign on behalf of EU insurers to ensure SII does not put them at a disadvantage to their US rivals. A Prudential spokesperson said: "We have received a letter from the Mayor of London. W...