Media Release

Prudential Singapore obtains regulatory approval to set up new financial advisory arm

Singapore, 16 January 2023 – Prudential Singapore (“Prudential”) announced today that it will be setting up a financial advisory (FA) firm to offer a wider range of products and services to its customers.

The life insurer had received approval from the Monetary Authority of Singapore (MAS) on 27 December 2022. Through the new FA arm, Prudential can now provide customers with more products and services complementary to its life insurance offerings1. This includes wealth solutions and general insurance such as travel insurance and motor insurance.

The financial advisory firm adds to Prudential’s existing distribution channels comprising a tied agency of more than 5,000 financial consultants, exclusive bancassurance partners – United Overseas Bank (UOB) and Standard Chartered Bank (SCB) – as well as digital channels such as the Pulse by Prudential app.

About Prudential Assurance Company Singapore (Pte) Ltd (Prudential Singapore)
Prudential Assurance Company Singapore (Pte) Ltd is one of the top life insurance companies in Singapore, serving the financial and protection needs of the country’s citizens for 92 years. The company has an AA- Financial Strength Rating from leading credit rating agency Standard & Poor’s, with S$53.3 billion funds under management as at 31 December 2021. It delivers a suite of well-rounded product offerings in Protection, Savings and Investment through multiple distribution channels including a network of more than 5,000 financial consultants.

1Life insurance offerings such as whole life, term life, critical illness, retirement and savings insurance plans, as well as group life and medical insurance.