The firm could be separated into life and non-life divisions, or UK and international, for example. Significant divestments could offer a solution without a formal breakup. Blanc says she will consider all options, including investing where she sees opportunities for growth.
A split may not be the panacea that some investors wish. Tulloch spent eight months preparing his strategy after his appointment in March last year, only to opt against any major sales, feeling the offers received for the Singaporean business did not reflect its profitability.
“As we have seen with Prudential plc’s split with M&G, business splits may sound