Company: Prudential Financial Inc

(Reuters) - Prudential Financial Inc <PRU.N> CEO John Strangfeld pledged to fix the company's group insurance business as the insurer's shares fell more than 10 percent on Thursday after first-quarter results missed analyst estimates.

A private equity arm of Goldman Sachs is looking to launch a $3 billion property debt fund in a bid to take advantage of a growing shortage of real estate financing across the UK and Europe, British newspaper the Times said on Monday.

The potential relocation of UK insurers away from Britain will turn “from a trickle into a flood,” says one analyst. Craig Scarr, Head of Insurance at accountancy firm Mazars warned that something needs to be done to stem the threat of new European capital rules, known as Solvency II.

Harvey McGrath, chairman of British insurer Prudential, is to step down next year after bearing the brunt of shareholder criticism over the group's costly failed bid for Asian rival AIA.

Prudential Financial, the second-largest life insurer in the United states, is interested in buying South Korea's Tong Yang Life Insurance, a source with knowledge of the matter said.