Entrepreneur Clive Cowdery has expressed interest in buying Prudential’s UK insurance business through his new £660m investment vehicle Resolution Limited.

It is thought that the approach was discussed by the insurer's board after Cowdery sounded out Prudential executives regarding a potential deal to buy the business. However, no live discussions are on ongoing.

It is also believed that Prudential could consider a sale of the UK business should Cowdery renew his advances. Prudential, which has about 7 million customers, revealed Friday that it recorded a 4 per cent increase in its UK insurance sales during 2008 which totalled £947m.

The insurer disclosed that an agreement was reached to transfer the assets and liabilities of its agency distribution business in Taiwan to China Life Insurance Company (Taiwan).

Reports suggest that Clerical Medical, owned by HBOS, and Friends Provident, worth nearly £1.7 billion, are also part of a major plan to put together some of Europe’s motley underperforming insurance companies.

Buying Pru in the UK would be a smart move for the man who made his first fortune from selling Scottish Amicable to the insurer in 1997.

Two years ago Cowdery came close to buying “Pru UK” when Mr Tucker explored a sell-off as part of a strategic review.