Analysts have welcomed UK insurer Prudential's announcement of the details of its planned US share offer, in which it will float $205m to US investors on 28 June.

One analyst with credit rating agency Moody's, said: 'It fits in with its strategy of broadening its earnings base into the US. Prudential already owns the well-performing Jackson National and has just bought Highland Bank Corporation - this development highlights its intention of expanding its US product lines, probably into asset accumulation.'