Sector movers: Insurance gets Pru boost

1st Dec 2010 13:55

The life insurance sector is one of today's strong performers, helped by a bullish update from Prudential.Pru chief Tidjane Thiam has made Asia the cornerstone of a plan to drive the life insurance group's profits strongly forward over the next two years.Thiam, who failed to conclude a deal to buy the Asian business of US firm AIG earlier in the year, has projected the Pru's Asian arm will double its 2009 pre-tax operating profit of £465m by 2013.Asian new business profits are also being slated to double by 2013 from the £713m made in 2009.With equities advancing on the back of optimism that the eurozone crisis will be resolved, only one sector is in the red - the defensively-oriented utility sector.Top performing sectors so far todayIndustrial Metals & Mining 7,341.45 +4.85%Oil Equipment, Services & Distribution 22,923.68 +4.07%Life Insurance 3,769.67 +3.90%Automobiles & Parts 4,561.57 +3.78%Mining 25,438.91 +3.35%Bottom performing sectors so far todayGas, Water & Multiutilities 4,380.39 -1.15%