UK life insurer Prudential plc has confirmed that it is to hold on to its online banking division Egg, and may yet consider taking the business on in its entirety via a share swap.

The announcement comes as Prudential concluded a strategic review of its business options. CEO Mark Tucker pointed out that Egg could provide a lucrative means of cross-selling Prudential products and allowing it to enter into the profitable personal finance sector – an area far beyond its core insurance operation.

In the US, Mr Tucker also explained that the firm would be retaining and developing its Jackson National Life business. Mr Tucker said that Prudential hoped to tap into the coming growth in the US senior population as the ‘baby boomers’ reach retirement age.