Prudential to boost investment in AsiaMarch 22 2018 by InsuranceAsia News Staff
Asia will figure prominently in the investment priorities of Prudential, according to Nic Nicandrou, chief executive of Prudential’s Asia operations.
The British insurer will boost its investments to develop its business and expand its investor base in the region.
According to Nicandrou, last year marked the eighth consecutive year of double-digit growth for the group’s business in Asia.
Hong Kong remains a key market, making the largest contribution to new business in the region last year, driven by technology and innovation as key enablers of the group’s growth strategy.
Over the next three years, Prudential is aiming to pour £300 million (US$421 million) annually into technology in Asia.
Nicandrou revealed that about 60% of new business is now submitted electronically. With the help of technology, an insurance policy can be issued in 30 minutes in China and within two hours in Hong Kong, Malaysia and Indonesia.
- May 28
The French giant, led by Denis Kessler, wants its investments to be carbon neutral by 2050.
- May 22
The region has proven its emergency readiness for future crises.
- May 12
Ratings agencies are reassessing as insurers see shrinking asset values and weakening sales.
- April 29
The deal has been hit by a lack of debt financing as a result of market uncertainty.