Prudential is considering moving office jobs to India in an initiative that could eventually transfer much of its accounting, actuarial and underwriting work to Mumbai. The Times
It has emerged that 200 Mumbai-based staff are already carrying out financial accounting, analysis and risk-profiling work for the Pru in the UK, continental Europe and its Asian arm.
They have also produced property market analysis for M&G, the Pru’s investment management division, and worked on projects that have saved £1,000 a day in consultancy costs.
The Pru believes the Mumbai team can cut costs in these areas by between 60% and 70%.
Mark Tucker, the Pru’s chief executive, aims to make savings of £195m a year by the end of the decade and is carryong out a wide-ranging review, expected to be completed by the end of the year.