Banks' pull out from advice hurts Pru's with-profits bond sales

Sales of with-profits bonds through financial advisers remained strong, Prudential said, despite disruption caused by the transition to the new distribution landscape. During the first nine months of 2013, the UK life and pensions industry has had to deal with the effects of significant regulatory change following the implementation of the Retail Distribution Review (RDR) and introduction of the Association of British Insurers (ABI) code on retirement choices. In this backdrop, Prudential reported total new UK business profit of £204m, 10% lower than in the first nine months of 2012, ...