Prudential to expand in Asia

Business | Janice Huang 21 Mar 2018

Prudential Plc (2378) will boost investments to develop its Asian business and expand its investor base in the region going forward, Nic Nicandrou, chief executive of Prudential Corporation Asia, said yesterday.

He said 2017 marked the eighth consecutive year of double-digit growth of the group's business in Asia.

Hong Kong remains a key market for Prudential as it made the largest contribution to new business in the region last year, he said, citing technology and innovation as key enablers of the group's growth strategy.

He said Prudential will invest 300 million pounds (HK$3.29 billion) annually in technology in Asia over the next three years.

About 60 percent of new business are now submitted electronically, Nicandrou said.

Aided by technology, an insurance policy can be issued in 30 minutes in China and within two hours in Hong Kong, Malaysia and Indonesia.

Janice Huang

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