June 7, 2010 5:07 a.m. EST

Topics: company information, annual and special corporate meeting, financial and business service, insurance, economy, business and finance, World

AHN News Staff

London, England, United Kingdom (AHN) - Insurance industry experts are forecasting a bloody yearly meeting on Monday for Prudential with stockholders likely calling for the head of key officials over the company’s failed $35.5 billion (24.5 billion pounds) AIA takeover bid.

Expected to be on the hot seat are Prudential Chairman Harvey McGrath and Chief Executive Tidjane Thiam. The two have maintained that despite the insurance firm’s collapsed talks with AIA owner AIG, Prudential’s strategy remains the same.

Among the shareholders that have aired their concern over Prudential’s conduct of the bid for AIA or the remuneration report are Schroders, Aviva Investors, Cooperative Investments and Neptune Investment Management.

McGrath and Thiam said Prudential will continue to focus on Asia as its main area for growth despite the failed AIA bid. The bid cost Prudential $675 million (450 million pounds) in advisers’ fees and break clause, plus another $225 million (150 million pounds) on hedging the cost of the $35.5 billion acquisition price.

McGrath and Thiam are not up for reelection in the Monday meeting, but Schroder Head of Equities Ricahrd Buxton said Prudential’s management has to be held accountable for the large fees spent for the botched deal.