24 Subsidiary Undertakings

The principal subsidiary undertakings of the Company at 31 December 1998 were:

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Main activity Country of incorporation
Holborn Finance Limited Liability Company* Investment USA
Jackson National Life Insurance Company* Insurance USA
Prudential Annuities Limited* Insurance England and Wales
The Prudential Assurance Company Limited Insurance England and Wales
Prudential Assurance Company Singapore (Pte) Limited* Insurance Singapore
Prudential Banking plc Banking England and Wales
Prudential Finance BV* Finance The Netherlands
Prudential Portfolio Managers Limited Investment management England and Wales
Scottish Amicable Life plc* Insurance Scotland
*owned by a subsidiary undertaking of the Company.
 

Each undertaking has only one class of ordinary shares, all of which are held by the Group, and operates mainly in its country of incorporation. The cumulative goodwill charged against the Group’s reserves arising on acquisitions of subsidiary undertakings that remain part of the Group amounted to £679m (£707m).

 

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