Hong Kong, 17 July 2017 – Prudential Corporation Asia (“PCA”) today announced that Nic Nicandrou has officially assumed the role of Chief Executive. Based in Hong Kong, Mr Nicandrou joins PCA from its parent company, Prudential plc (2378.HK), where he was Chief Financial Officer from 2009, when he joined the company.
“I am looking forward to driving Prudential’s strategy of continued growth in one of the fastest-growing insurance and asset management markets in the world,” Mr Nicandrou said. “Asia’s increasingly affluent population has a strong and growing demand for savings and protection products. With our market-leading franchise and strong capabilities, we are well positioned to capitalise on this historic opportunity.”
PCA has leading insurance and asset management operations across 14 markets in the region. It has a robust multi-channel distribution platform providing a diverse range of solutions to meet the long-term life insurance needs of customers in Asia. Its asset management business, Eastspring Investments, one of the largest asset managers in Asia, provides investment solutions across a broad range of asset classes and was recently named Asia Fund House of the Year by AsianInvestor.
Asia’s middle class is rapidly expanding and is forecast to grow to 1.9 billion people by 2020, representing over half of the global middle class. “While the region continues to prosper, there is still a large protection gap alongside significant infrastructure needs,” Mr Nicandrou said. “Our longstanding strategy has been to focus on meeting these needs. We have been in Asia for more than 90 years, and we are committed to helping individuals and families build better lives and stronger communities, as well as contributing to the economic development of the markets in which we operate.”
Mr Nicandrou brings to PCA a long and distinguished track record in the global insurance sector. Apart from his role as CFO at Prudential plc, Mr Nicandrou was responsible for Group strategy and has served as executive director responsible for Prudential’s African insurance operations since 2015. Before joining Prudential, he worked at Aviva, where he held a number of senior roles. Mr Nicandrou began his career at PricewaterhouseCoopers.
Mr Nicandrou’s appointment was announced by Prudential plc on 18 May. He replaces Tony Wilkey, who has left the company to pursue other opportunities.
 Source: IMF
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