Prudential's chairman, Sir David Clementi, has defended the UK insurer's current strategy, claiming that its approach is proving successful for the group, but added that the door was also open to positive changes for the company's future.

Cited in the Financial Times, Sir Clementi said: The board believes the current composition and structure of the group provide material financial and operational benefits to shareholders.

The board considers strategy on a regular basis and it will continue to take account of all alternatives to maximize value for shareholders, he added.

The announcement comes amid months of speculation that the insurer is to split to increase the value of the company. If this were to occur, businesses affected would include its operations in the UK, US and Asia, as well as an asset management arm, reported the Financial Times.

Although content with its current strategy, the call for a break-up has not been completely ruled out.

After rejecting a takeover bid from Aviva last year, the company has been under increasing pressure to improve its performance.