Prudential CEO Denies Acquisition Chatter
Tidjane Thiam, chief executive of British insurer Prudential, has denied reports that he is in China to talk with potential buyers of the business.
Prudential's share price shot up Wednesday after market chatter that it could become a target for a number of companies including AIA, the Asian life insurer which used to be part of AIG, for which Prudential made a failed bid last year.
"If there was anything material to announce, we would announce it, so the fact that we said nothing after the rumors is confirmation that there's nothing to announce," Thiam told CNBC in an interview at Dalian, the World Economic Forum's summer conference focused on emerging economies. "The reality is that I'm here because of the World Economic Forum, I have been busy chairing sessions and being a participant."
Prudential, like many other insurance company, is experiencing high growth in China as insurance is a relatively new market there.