Prudential Corporation Asia Appoints Robin Spencer as CEO for Thailand

HONG KONG, CHINA/BANGKOK, THAILAND
– Media OutReach – 29
April 2020 – Prudential Corporation
Asia (PCA) today announced that Robin Spencer has been appointed Chief
Executive Officer (CEO) of its business unit in Thailand, Prudential Life Assurance (Thailand) Public Company Limited (PLT),
subject to regulatory approval.

Robin takes over from Aman Chowla as
CEO of PLT, reporting to Wilf Blackburn, Regional CEO, Insurance Growth Markets.
Wilf reports to Nic Nicandrou, Chief Executive of PCA.

Robin’s appointment follows
Prudential’s signing in March 2020 of a strategic, long-term bancassurance
partnership with TMB Bank (TMB) in Thailand to offer life, health and savings
solutions to TMB’s nine million customers. The alliance also strongly
complements and deepens the strong relationships with TMB established through
Prudential’s asset management joint ventures in Thailand, TMBAM Eastspring and Thanachart
Fund Eastspring^[1]. Prudential has a 12 per
cent share of the country’s mutual fund market.

Nic said, “I am delighted to announce
that Robin will take on the important role of CEO of Prudential
Life Assurance (Thailand).
Our partnership with TMB is strategically important to our business. It is part
of our significant investments to broaden further our footprint and presence in
Thailand, the second-largest life insurance market and the largest mutual fund
market in ASEAN. With his extensive skill set and track record, Robin is
exceptionally well-placed to lead Prudential Thailand to even greater
success.”  

Robin joined PCA in 2018 as Chief
Operating Officer (COO), bringing with him 25 years of CEO, senior functional
and business experience in the insurance industry across life, non-life and
asset management in Asia, Europe, North America and the UK.

As COO at PCA, Robin led key
transformation projects across the region, all focused on delivering an
exceptional experience for Prudential’s customers and driving the success of the
business. He will bring his knowledge and experience to Thailand, facilitating
new ways of working, innovation and speed, and ensuring Prudential delivers
what customers want and expect of us.

Robin said, “I am excited to take on my
new role in Thailand, a significant growth market for Prudential in Asia.
Prudential Thailand has been serving the evolving needs of the Thai people for
25 years. With our partnerships with TMB, Prudential Thailand is
well-positioned to build on its track record to achieve the next level of
growth, as it continues to protect the health and grow the wealth of its
customers.

I look forward to playing a key role
in driving and shaping Prudential Thailand’s future.”

About Prudential Corporation Asia

Prudential
is a leading life insurer with operations spanning 13 markets in Asia, covering
Cambodia, China, Hong Kong, India, Indonesia, Laos, Malaysia, Myanmar, the
Philippines, Singapore, Taiwan, Thailand and Vietnam. Through a robust
multi-channel distribution platform, Prudential provides a comprehensive range
of savings, investment and protection products to meet the diverse needs of
Asian families.

Eastspring
Investments manages investments across Asia on behalf of a wide range of retail
and institutional investors. It is a leading Asia-based asset manager with
on-the-ground presence in 11 major Asian markets as well as distribution
offices in North America and Europe. It has over US$241 billion in assets under
management (as at 31 December 2019), managing funds across a range of asset
classes including equities and fixed income.

*Prudential plc is not affiliated in any manner with
Prudential Financial, Inc. of the United States or with the Prudential
Assurance Company, a subsidiary of M&G plc, a company incorporated in the
United Kingdom.

Prudential plc is listed on the stock exchanges of London (PRU.L), Hong
Kong (2378.HK), Singapore (K6S.SG) and New York (PUK.N).

About Prudential in Thailand

Prudential has operated in Thailand for more
than 24 years through Prudential Life Assurance (Thailand) Public Company Limited. Prudential serves more than 1.6 million customers in Thailand and manages
more than Thai Baht 112 billion of assets on their behalf^[2]. In 2019 the Thailand business grew IFRS
operating profits by 8 per cent to USD 170 million and Life Weighted Premium by
8 per cent to USD 619 million^[3].