Singapore Insurance

Prudential, officially known as Prudential plc, is a British multinational life insurance and financial services company. Its history can be traced back to its founding in London in 1848. The company was initially established as The Prudential Mutual Assurance Investment and Loan Association by Sir John Charles Day. The primary aim of the company was to provide affordable life insurance to the working class. Prudential's innovative approach, focusing on industrial life insurance policies, quickly gained popularity and helped expand its customer base. In the late 19th century, Prudential expanded its operations beyond the United Kingdom. It entered international markets, including the United States, where it established its American subsidiary, Prudential Insurance Company of America, in 1875. This move marked the beginning of Prudential's global expansion and laid the foundation for its future growth and success. Over the years, Prudential continued to evolve and adapt to chang...

As stated in its benefit illustration, PruWealth is a participating regular premium endowment insurance plan.  Unlike other endowment plans, PruWealth is meant to be long term wealth accumulator that matures only when the life assured turns 100 years old.  That means the plan does not mature in your typical 20 to 30 years that is common in other endowment plans.  Of course, that depends too on the age you are when you purchased the plan. Some interesting features of this endowment plan are as follows: There are various options of premium paying terms ranging from 5 years, 10 years, or 20 years. This basically means it is a limited pay plan where you just need to pay regular premiums for a certain number of years and can stop paying thereafter. Death benefit will always be higher than the amount of premiums put in.  This is typical of any endowment plan so I won't elaborate any further.  Surrender value comprises both guaranteed and non-guaranteed component...

I finally received a letter from AIA regarding the recent news about Prudential's potential takeover. Dear XXXX, As you have probably seen in the news, AIG has entered into a definitive agreement to sell AIA to Prudential for approximately US$35.5 billion, subject to Prudential's shareholder approval, regulatory approvals and customary closing conditions. AIA is a strong and successful organisation today because of our focus on meeting your needs, supported by a dedicated agency force, distributors and professional employees. We understand Prudential and AIG are devoted to preserving the AIA brand and its commitments. We would like to assure you it is business-as-usual for us and our focus will continue to remain on you, our customer. We will continue to provide you with products and services that meet your needs now and into the future. There are no changes to the policies you have with us and all policyholder obligations will be honoured. If you have questions, please do no...

AIG bids farewell to its Asian arm AIA as a takeover by Prudential takes place. British insureer, Prudential, will offer up to US$35 million dollars for AIA. The deal will be settled through cash, paid through a rights issue by Prudential and also through AIG taking a minority stake in the British insurer. Prudential stepped in after AIG announced that it was intending to IPO its Asian arm. Analysts had previously forecasted that the IPO would raise 10 billion dollars. AIG had earlier intended to auction off 49 percent of its Asian arm after the financial crisis but that failed as it did not receive any suitable offers. Prudential will double its size by this deal.

Just managed to browse through the news to see this article pasted below: UNITED Overseas Bank (UOB) has sold its life insurance unit for $428 million to UK's biggest insurer Prudential, in a move that will free up some capital to strengthen its core banking business. The so-called 'alliance' will see UOB distribute Prudential's life, accident and health insurance products in Singapore, Indonesia and Thailand for at least 12 years. UOB Life Assurance, which was incorporated in Singapore in 1990, has over $2 billion in assets as at September last year. It also has 50,000 policyholders who hold a total of 70,000 policies. It has no agents. UOB Life's products are distributed mainly through channels like bancassurance - or the sale of insurance and other similar products through a bank - and through independent financial advisers. At a briefing on Wednesday, UOB Group's deputy chairman and chief executive Wee Ee Cheong said that UOB Life is a 'relatively small ...