Prudential plc, together with its subsidiaries, provides retail financial products and services, and asset management services to individuals and businesses in Asia, the United States, and the United Kingdom. The company serves approximately 24 million insurance customers. Business Units The company is structured around four main business units, such as Prudential Corporation Asia (incorporating the asset management business, Eastspring Investments), Jackson National Life Insurance Company (Jackson), Prudential UK and Europe insurance operations, and M&G (the UK and European fund manager of the Group). Asia Prudential Corporation Asia has operations in Hong Kong, Malaysia, Singapore, Indonesia and other Asian countries. Its core business is health, protection, either attached to a life policy or on a standalone basis, other life insurance (including participating business) and mutual funds. It also provides selected personal lines property and casualty insurance, group insurance, institutional fund management and consumer finance (Vietnam only). The product range offered is tailored to suit the individual country markets. Insurance products are distributed mainly through an agency sales force together with selected banks, while the majority of mutual funds are sold through banks and brokers. Joint venture partners are mandatory in some markets, as reflected in the company’s life insurance operations in China (through its joint venture with CITIC-Prudential Life Insurance Company Limited (CITIC)) and in India (through its joint venture with ICICI Bank Ltd.) and Prudential’s Takaful business in Malaysia (through its joint venture with Bank Simpanan Nasional). In the fund management business, the company has joint venture operations in India (through its joint venture with ICICI Bank Ltd.), China (through its joint venture with CITIC) and Hong Kong (through its joint venture with Bank of China International). As of December 31, 2015, Prudential Corporation Asia had approximately 14 million life insurance customers with life and fund management operations in 14 markets; distribution through approximately 10,000 active bank branches across Asia with relationships, including standard chartered bank, United Overseas Bank Limited, joint venture partners ICICI Bank Ltd. and CITIC in China and Thanachart (Thailand); network of tied agents in Asia; and consistently high brand recognition, outperforming many other financial services companies and had received multiple awards for its customer service. The company in Asia has approximately 14 million life insurance customers and approximately 22 million in-force policies. The life insurance products offered by the company in Asia include with-profits (participating) and non-participating term, whole life and endowment and unit-linked policies often combined with protection riders and typically with regular premium payments. The company in Asia also offers health, disablement, critical illness and accident cover to supplement its core life products. It is part of the company’s strategy to focus on regular premium products which allow its customers to invest over the long term and smooth the impact of timing on their investment returns. Non-participating products offer savings with protection where the benefits are guaranteed or determined by a set of defined market-related parameters. Accident and health products provide mortality or morbidity benefits and include health, disablement, critical illness and accident cover. These products are commonly offered as supplements to main life policies, but could also be sold separately. In Malaysia and Indonesia, the company also offers life insurance policies that comply with Islamic principles known as Takaful. The main principles are that policyholders co-operate amongst themselves for the common good, uncertainty is eliminated in respect of subscription and compensation and there is no investment in prohibited areas, such as gambling or alcohol. The company’s product portfolio is tailored to suit the savings and protection needs of customers in each market. Eastspring Investments Eastspring Investments, the comp
prudential plc (PRU:London)
Laurence Pountney Hill
London, EC4R 0HH
Phone: 44 20 7220 7588
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