Prudential Announces Shutdown of Prudential Wealth Management Singapore, Prudential Wealth Management Hong Kong to Continue Operations

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Prudential Announces Shutdown of Prudential Wealth Management Singapore, Prudential Wealth Management Hong Kong to Continue Operations

21st September 2023 | Hong Kong

Prudential has announced the shutdown of Prudential Wealth Management Singapore, with Prudential Wealth Management Hong Kong to continue operations.  In 2023 January, Prudential Singapore announced the setting up of a financial advisory firm in Singapore providing wealth advisory, life insurance & general insurance after receiving regulatory from Monetary Authority of Singapore (MAS) on 27th December 2022.  In Singapore, Prudential has more than 5,000 financial consultants & exclusive Bancassurance partnerships with UOB and Standard Chartered. 

“ Prudential Announces Shutdown of Prudential Wealth Management Singapore, Prudential Wealth Management Hong Kong to Continue Operations “

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Prudential Singapore to Setup Financial Advisory Firm Providing Wealth Advisory, Life Insurance & General Insurance, More than 5,000 Financial Consultants & Exclusive Bancassurance Partners UOB & Standard Chartered

19th January 2023 – Prudential Singapore is setting up a financial advisory firm in Singapore providing wealth advisory, life insurance & general insurance after receiving regulatory from Monetary Authority of Singapore (MAS) on 27th December 2022.  In Singapore, Prudential has more than 5,000 financial consultants & exclusive Bancassurance partnerships with UOB and Standard Chartered.  Prudential on 16th Jan 2023: “Prudential Singapore announced today that it will be setting up a financial advisory (FA) firm to offer a wider range of products and services to its customers … … The financial advisory firm adds to Prudential’s existing distribution channels comprising a tied agency of more than 5,000 financial consultants, exclusive bancassurance partners – United Overseas Bank (UOB) and Standard Chartered Bank (SCB) – as well as digital channels such as the Pulse by Prudential app.” (Life insurance ~ whole life, term life, critical illness, retirement & savings insurance plans, group life & medical insurance.)

Prudential Singapore

Prudential Assurance Company Singapore (Pte) Ltd is one of the top life insurance companies in Singapore, serving the financial and protection needs of the country’s citizens for 92 years. The company has an AA- Financial Strength Rating from leading credit rating agency Standard & Poor’s, with S$53.3 billion funds under management as at 31 December 2021. It delivers a suite of well-rounded product offerings in Protection, Savings and Investment through multiple distribution channels including a network of more than 5,000 financial consultants.

Dennis Tan, CEO of Prudential Singapore

Dennis is Managing Director of the Strategic Business Group covering Singapore, Thailand and Vietnam.   Dennis has been CEO of Prudential Singapore since March 2020. He is also Deputy President in the Life Insurance Association’s Management Committee, Council Member at IBF Singapore, Multilateral Healthcare Insurance Committee Member at Ministry of Health Singapore, Board Director at the Council for Third Age, and Board Member at the European Chamber of Commerce in Singapore.

A veteran banker, Dennis has 26 years of experience in consumer banking spanning product development, segment management, marketing and sales and distribution.  Prior to joining Prudential, he was with OCBC Bank for 10 years, of which seven were spent leading a 3,100-strong consumer banking division as Head, Consumer Financial Services. Dennis also spearheaded the growth of OCBC’s Premier Banking business in Singapore, Malaysia, Indonesia and China as Head of Branch and Group Premier Banking. He was also a member of OCBC Bank’s Management Committee.

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