Prudential announces leadership appointments

Regional - 3 January 2011

Prudential Corporation Asia today announced leadership changes in its Singapore life insurance business, Prudential Assurance Company Singapore (Pte) Limited ("Prudential Assurance Singapore").

Philip Seah, who had led the business as CEO since 2006, has been appointed to the regional role of Chief Agency Officer, Asia. In his new role, Philip will play a critical role in enhancing productivity and building scale in Prudential's agency force across Asia, which currently numbers approximately 340,000. Seah will lead the company's efforts to recruit, train and develop a world-class agency force to serve customers across all of its life insurance markets in Asia.

Seah brings more than 30 years of experience to the role of Chief Agency Officer, Asia. He initially joined Prudential in 1978 as an agent and quickly progressed through its agency ranks before joining the management team as chief agency officer of Prudential Assurance Singapore in 1990. He subsequently served as director of agency development at Prudential's regional headquarters in Hong Kong before taking on leadership roles in Prudential's Philippines and Singapore life insurance businesses.

Commenting on the appointment, Tony Wilkey, chief executive of insurance at Prudential Corporation Asia, said: "Philip's new role is not only reflective of his personal passion for agency development and agency management, but more broadly is indicative of Prudential Corporation Asia's focus on agency distribution and our unwavering commitment to ensuring this channel remains a core competency for Prudential in Asia."

Prudential Corporation Asia has named Kevin Holmgren as CEO-designate of Prudential Assurance Singapore. His appointment is subject to confirmation by the Monetary Authority of Singapore (MAS).

Holmgren's career at Prudential spans more than a decade. Until early 2010, he led Prudential's life insurance business in Indonesia, PT Prudential Life Assurance, as CEO. Under his leadership, PT Prudential Life Assurance achieved impressive growth in agency, partner and product initiatives and grew to become the market leader in Indonesia, particularly in the important and fast-growing investment-linked and syariah (takaful) product segments.

Wilkey added: "Under Kevin's leadership, I have every confidence Prudential Assurance Singapore will continue to deliver exceptional products and services to our customers in Singapore. Singapore is one of Prudential's largest markets in Asia, and the business remains well positioned to grow from strength to strength and to continue as a leader in Singapore's life insurance market."

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