PRUDENTIAL COMPLETES PURCHASE OF THANACHART LIFE ASSURANCE

(Following is a press release of Thanachart Bank Pcl via an
electronic mail. The statement was confirmed by the sender.) 
Prudential Thailand and Thanachart Bank commence exclusive long-term bancassurance partnership 
Bangkok, Thailand, 8 May 2013 - Prudential Life Assurance
(Thailand) Public Company Limited (“Prudential  Thailand”), a
subsidiary of Prudential plc (“Prudential”), and Thanachart Bank
Public Company Limited (“Thanachart Bank”) today announced the
completion of the sale of 100% of the shares of Thanachart Life
Assurance to Prudential Thailand and the commencement of their
exclusive 15-year bancassurance partnership.  Thanachart Bank
has now begun distributing Prudential Thailand’s life insurance
products through its network of more than 630 branches across
the country. 
The integration of Thanachart Life’s operations has also started
and, during the transition period, Thanachart Life policies will
continue to be serviced by Thanachart Life. The terms and
conditions of Thanachart Life policies remain unchanged. 
Mr. Somjate Moosirilert, CEO and President of Thanachart Bank,
said, “From today, more than 630 branches of Thanachart Bank
nationwide will start offering Prudential’s insurance products
to our customers. Thanachart Bank’s staff have recently
completed comprehensive training in these new products and
services from Prudential and with this new expertise gained,
they can now offer these high-quality insurance products to and
provide our over four million customers with enhanced services
to meet their needs. With Prudential’s world-class products
offered by our trained staff through our extensive nationwide
network, we are confident that the bancassurance partnership
between Prudential and Thanachart will be highly successful.” 
Mr. Barry Stowe, Chief Executive, Prudential Corporation Asia,
said: “The acquisition of Thanachart Life and partnership with
Thanachart Bank are key milestones for Prudential in Thailand
and demonstrate our commitment to grow our operations here. As
we continue to build our business together with Thanachart Bank,
we will remain focused on providing customers with world-class
products, professionalism and the highest standards of customer
care that Prudential is renowned for. We warmly welcome
Thanachart Life employees to the Prudential family, and together
as a bigger team, we look forward to taking our business in
Thailand to the next level.” 
Mr. Brendan King, Deputy CEO of Thanachart Bank, said, “This
partnership with Prudential is a further demonstration of our
commitment to bring the best products and services to our
customers in order to meet all of their financial needs.  Like
Thanachart Bank, Prudential is committed to offering best in
class products and services and by closely working together, we
are confident of being able to fully meet our clients’
increasingly complex insurance needs. 
Mr. Binayak Dutta, Chief Executive Officer, Prudential Thailand,
said: “We are pleased to receive approval to complete our
acquisition of Thanachart Life and we will ensure that the
integration is seamless.  We plan to offer a comprehensive range
of products including protection, savings, group life insurance
and loan protection for Thanachart Bank customers to help meet
their financial needs. These products will be sold by Thanachart
Bank staff across its branch network, and we look forward to
working closely with Thanachart Bank as we continue to grow our
business.” 
END 
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