Prudential prepares to gain foothold in Brazil The Sunday Telegraph understands that the company, led by chief executive Tidjane Thiam, has had discussions with the Brazilian government over the possibility of relaxing current legislation which prevents an insurer from controlling its own sales force. Although it would be possible to enter now via the bancassurance market, it is believed that the company's senior management feel it would be more profitable to be able to control its own sales. It is not known how successful Prudential has been in its lobbying efforts, however. The Brazilian push is unlikely to feature in Prudential's 2011 results, due to be published on Tuesday, which is instead more likely to focus on the strength of its Asian business as well as questions over European legislation. The company is expected to raise its dividend by as much as 10pc on the back of strong growth from its Asian business. It is also understood that Prudential has secured a licence to conduct business in Cambodia for the first time. Mr Thiam is expected to outline his concerns about the incoming Solvency II regulations - just over a fortnight after the insurer admitted it was considering moving its corporate headquarters to avoid the European capital rules. Senior industry sources fear the reforms will penalise UK insurance companies and cut retirement incomes by up to 20pc. The Association of British Insurers (ABI) has also warned Solvency II could prevent UK insurers competing globally, particularly if surcharges arise for insurers operating in countries such as the US. The debate is likely to intensify ahead of a key Brussels vote on March 21, which will consider amendments to the rules.