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Business HistoriesPrudential Corporation Asia
OriginsPrudential has a rich and extensive history in Asia, and has maintained a continuous presence in the region for over eighty years. In 1923, Calcutta, India was chosen as the location for Prudential's first overseas life operation, with an Assamese tea planter as its inaugural client. General insurance agencies were appointed in China and the Philippines throughout the 1920s, while the life insurance business soon expanded to Malaysia (1924), Singapore (1931) and Hong Kong (1964).
ExpansionPrudential Corporation Asia was formed in 1994 with the objective of developing our established markets of Malaysia, Singapore and Hong Kong, and pursuing value-creation opportunities in the region's many high-potential markets. Over the next eight years, Prudential rapidly extended its life business in Thailand, Indonesia, the Philippines, India, Vietnam, Taiwan, China, Japan and Korea. In China and India, two of the world's fastest-growing economies, the company has formed joint venture partnerships with CITIC Group and ICICI Bank respectively for our life insurance and fund management businesses. Prudential's Asian asset management business, Eastspring Investments, manages investments across a broad range of asset classes for internal, retail and institutional clients. Eastspring Investments operates in ten markets: Hong Kong, India, Japan, Taiwan, Malaysia, Singapore, Korea, the United Arab Emirates, China and Vietnam. TodayPrudential has become the region's leading European-based life insurer, as well as a major player in the Asian fund management sector. It has also built a powerful brand that is well-known and highly regarded across the region's diverse geographies and cultures. Further information can be found on the Prudential Corporation Asia website. |
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