Insurer Prudential Announces $1.2 Billion Share Buyback

Prudential Plc will start a fresh share buyback of up to $1.2 billion, as the company looks to return excess capital to investors after listing an Indian unit in December.

The buyback includes $700 million of net proceeds from the ICICI Prudential Asset Management Co. initial public offering, with the balance coming from “recurring capital returns”, according to a statement Tuesday.