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. Last Updated: 07/27/2016

Prudential Jumps




LONDON -- Britain's largest life and pensions group, Prudential PLC, reported a 61 percent jump in new life and pensions business Tuesday to pounds 12.3 billion ($20.11 billion) in 1999, maintaining its strong momentum built up early in the year. Prudential said deposits at its Internet bank, Egg, rose to pounds 7.6 billion by the end of 1999 from pounds 7 billion at the end of the third quarter, slowing its growth rate from earlier in 1999.


Egg customer numbers, however, jumped to more than 800,000 from over 700,000 at the end of the third quarter, thanks to the successful launch of the Egg credit card, which brought in 175,000 new accounts.


Prudential's British new life and pensions business rose 61 percent to pounds 7.4 billion, while premiums at Prudential's U.S. arm, Jackson National Life, rose 43 percent to pounds 4.1 billion.