Prudential Plc reported first-half profit attributable to its shareholders of £1.51 billion under International Financial Reporting Standards, up from £687 million a year ago.

EPS based on total profit after tax was 58.7 pence, compared to the year-ago 26.9 pence.

The British insurer said it intends to combine M&G Investment Management Ltd. and Prudential UK & Europe to form M&G Prudential, which has about £332 billion of combined AUM as of June-end.

More details to follow.