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Insurer Prudential profits more than double in 2010

LONDON, Mar 9 – British insurance giant Prudential said Wednesday that its net profits more than doubled to £1.4 billion in 2010 as it shrugged off a failed takeover bid to post strong sales in Asia.

Prudential reported profit after tax of £1.43 billion (1.67 billion euros, $2.31 billion last year, compared with net earnings of £676 million in 2009, the group said in a statement.

Prudential last year failed in a $35.5 billion takeover of AIA, the Asian arm of US insurer AIG.

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