Let me unpick this corporate madness for you. M&G used to be Prudential, once famous for the Man from the Pru. For kids etc, he was the insurance salesman who collected 2d a week in premiums for life cover and savings many would not otherwise (and now longer) have. They were all got rid of when regulation became too complicated in the ‘90s, rehired in the ‘00s, sacked again and, a few CEOs later, are being brought back again as M&G starts to buy firms of advisers. Here’s the thing. We have the misfortune to have to deal with the Pru from time to time. They need to invest in their admin if they want our business. Which, I guess, they don’t. And are instead buying what they doubtless hope will become their own salesmen.
“Amazon invades financial services with home insurance launch”
Amazon, like Musk, and Branson before them both, can afford to try lots of stuff and fail at some.
