09 Jul 2002

Prudential plc’s response to the Sandler Review

Prudential welcomes and is fully supportive of the aims of the Sandler Review and recognises the need for further simplification of financial services as being a key ingredient in closing the UK savings gap.

In particular, we welcome the fact that the report:

  • Aims to encourage more people to save by making it easier to do so;
  • Proposes a new simplified sales process;
  • Recognises the value of with-profits products; and
  • Acknowledges the role that Independent Financial Advisers play in the advice and sales process.

The primary motivator behind the Review is the need to encourage more people to save more for their future. We therefore urge the Government to align all of the reviews currently being undertaken and to work closely with the regulators and the industry to create a single package of measures to reduce the UK savings gap. We look forward to playing a full part in this process.

The Report itself contains much detail and it will take some time to work through each of the individual recommendations and consider how they might be implemented. We expect to play an active part in the further consultations.

ENDS

Media enquiries:   Investors/Analysts:  
Geraldine Davies 020 7548 3911 Rebecca Burrows 020 7548 3537
Steve Colton 020 7548 3721
Clare Staley 020 7548 3719

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Prudential plc is an international company incorporated in the United Kingdom, and its affiliated companies constitute one of the world’s leading financial services groups. It provides insurance and financial services directly and through its subsidiaries and affiliates throughout the world, and it has been in existence for over 170 years. Prudential plc is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America, or the Prudential Assurance Company, a subsidiary of M&G plc (a company incorporated in the United Kingdom).