Prudential is reported to be looking into whether to move its headquarters outside Britain to escape looming European Union regulations.

The insurer is also thought to be considering selling its British operations or spinning them off as a separate listed company.

Prudential has its headquarters in London but is a major employer in Scotland with more than 2,000 workers based at a site near Stirling.

Singapore and Hong Kong are among the cities under consideration for a new base.

Solvency II rules, which are being implemented from January, require insurers to have larger capital reserves to protect against financial turmoil.

Prudential said London remains a “very attractive place to be domiciled” but the company regularly looks at its structure to ensure it remains optimal.