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2011

Prudential Announces Leadership Appointments

  • Seah named Chief Agency Officer, Asia. Holmgren named CEO, Prudential Assurance Singapore

(Singapore - 3 January 2011)

Prudential Corporation Asia today announced leadership changes in its Singapore life insurance business, Prudential Assurance Company Singapore (Pte) Limited (“Prudential Assurance Singapore”).

Philip Seah, who had led the business as CEO since 2006, has been appointed to the regional role of Chief Agency Officer, Asia. In his new role, Philip will play a critical role in enhancing productivity and building scale in Prudential’s agency force across Asia, which currently numbers approximately 340,000. Seah will lead the company’s efforts to recruit, train and develop a world-class agency force to serve customers across all of its life insurance markets in Asia.

Seah brings more than 30 years of experience to the role of Chief Agency Officer, Asia. He initially joined Prudential in 1978 as an agent and quickly progressed through its agency ranks before joining the management team as chief agency officer of Prudential Assurance Singapore in 1990. He subsequently served as director of agency development at Prudential’s regional headquarters in Hong Kong before taking on leadership roles in Prudential’s Philippines and Singapore life insurance businesses.

Commenting on the appointment, Tony Wilkey, chief executive of insurance at Prudential Corporation Asia, said: “Philip's new role is not only reflective of his personal passion for agency development and agency management, but more broadly is indicative of Prudential Corporation Asia’s focus on agency distribution and our unwavering commitment to ensuring this channel remains a core competency for Prudential in Asia.”

Prudential Corporation Asia has named Kevin Holmgren as CEO-designate of Prudential Assurance Singapore. His appointment is subject to confirmation by the Monetary Authority of Singapore (MAS).

Holmgren’s career at Prudential spans more than a decade. Until early 2010, he led Prudential’s life insurance business in Indonesia, PT Prudential Life Assurance, as CEO. Under his leadership, PT Prudential Life Assurance achieved impressive growth in agency, partner and product initiatives and grew to become the market leader in Indonesia, particularly in the important and fast-growing investment-linked and syariah (takaful) product segments.

Wilkey added: “Under Kevin’s leadership, I have every confidence Prudential Assurance Singapore will continue to deliver exceptional products and services to our customers in Singapore. Singapore is one of Prudential’s largest markets in Asia, and the business remains well positioned to grow from strength to strength and to continue as a leader in Singapore’s life insurance market.”

 

About Prudential Corporation Asia

Prudential Corporation Asia comprises the life insurance, asset management and consumer finance operations of Prudential plc* in Asia. Our businesses span 13 markets, covering Mainland China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand, Vietnam and the United Arab Emirates. We are the leading Europe-based life insurer in terms of market coverage and number of top three positions, and have more than 340,000 agents and employees across the region serving over 15 million customers.

Our Asia asset management business is also one of the region’s largest and most successful, with operations in ten markets and £50.3 billion in assets under management (at 30 September 2010). We manage funds on behalf of a wide range of retail and institutional investors, including life and pension products sold by Prudential in the UK and across Asia, with just under half of the total assets sourced from third party clients.

* Prudential plc is a company incorporated and with its principal place of business in England. Together with its affiliated companies, Prudential constitute one of the world's leading financial services groups. It provides insurance and financial services through its subsidiaries and affiliates throughout the world. It has been in existence for over 160 years and has £309 billion in assets under management (at 30 June 2010). Prudential plc is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America.

Prudential plc is listed on the stock exchanges of London (PRU.L), Hong Kong (2378.HK), Singapore (K6S.SG) and New York (PUK.N).