The firm’s asset management division saw a 9% improvement in contribution.
However, the Life and Wealth segments faced challenges, registering a 7% decline in operating profit. This decrease was attributed to lower contractual service margin amortisation rates and reduced returns on surplus assets.
M&G is merging its Life and Wealth operations under a unified leadership, headed by Clive Bolton. The aim is to increase focus on serving the UK retail market and improve the efficiency of its offerings, the business outlined.
M&G bucks industry trend with £1.5bn wholesale asset manageme…
M&G to exit digital adviser platform amid wealth arm overhaul
