Prudential gets 8th licence

Prudential Co said it now has the same number of city life insurance licences as rival American International Group as its Chinese joint venture was granted an eighth city licence to sell life insurance policies in the southern Chinese city of Zhongshan in Guangdong province. Mark Norbom, chief executive of Prudential's Asian operations, said Prudential hoped to get "at least two more" city life insurance licences this year.