SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of January, 2020
PRUDENTIAL PUBLIC LIMITED COMPANY
(Translation of registrant's name into English)
1 Angel Court, London,
England, EC2R 7AG
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual
reports
under
cover Form 20-F or Form 40-F.
Form
20-F X
Form 40-F
Indicate
by check mark whether the registrant by furnishing the
information
contained
in this Form is also thereby furnishing the information to
the
Commission
pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
Yes
No X
If
"Yes" is marked, indicate below the file number assigned to the
registrant
in connection with Rule 12g3-2(b): 82-
Press Release
Prudential Vietnam and SeABank establish exclusive bancassurance
partnership
Prudential Vietnam Assurance Private Limited ("Prudential
Vietnam"), a subsidiary of Prudential plc, and Southeast Asia
Commercial Joint Stock Bank ("SeABank") have entered into an
exclusive bancassurance partnership with a 20-year term. Prudential
Vietnam will also become the preferred life insurance provider to
BRG Group Joint Stock Company ("BRG Group"), a leading conglomerate
in Vietnam with approximately 10 million customers. The partnership
is expected to be effective from April 2020.
SeABank is a fast-growing bank in Vietnam with approximately 1.2
million customers and almost 170 branches. It has adopted a
pioneering ecosystem strategy, bringing together a number of market
leaders to leverage their respective strengths and customer access,
including BRG Group and others in the telecommunication, postal and
retail segments. This strategy is underpinned by a
digital-convergence approach to transform customer journeys and
deliver a compelling suite of innovative products and services for
the customers of its ecosystem partners. SeABank's ecosystem
strategy is expected to deliver a step-change in its customer base
and contribute towards its mission of becoming "the most favourite
leading bank in Vietnam".
Prudential Vietnam is a leading life insurance company in Vietnam
and is a household name synonymous with life insurance, built up
over 20 years of operations. It serves over 1.5 million customers
and has a nationwide footprint, with more than 360 sales offices
across 63 provinces.
Prudential Vietnam and SeABank have a shared focus on helping local
consumers achieve their financial and protection goals. Under this
partnership, consumers will be provided with a comprehensive range
of customer-centric life insurance solutions, seamlessly delivered
via a suite of digital tools to enrich the customer experience. The
partnership builds on Prudential's strategy of enhancing its reach
in Asia where there is growing demand for health, protection and
wealth management products and is fully aligned with SeABank's
customer-centric philosophy and digitally-enabled approach.
Mr Nic Nicandrou, Chief Executive of Prudential Corporation Asia,
said, "Vietnam is an important market for Prudential with a
compelling long-term growth outlook. Our partnership with SeABank
is fully aligned with our mission of helping individuals and
families in Vietnam build better lives and a financially secure
future and we are excited by its growth prospects."
Mr Clive Baker, Chief Executive Officer of Prudential Vietnam,
said, "Bancassurance has been a key driver of our recent growth in
the country and we are delighted to partner with SeABank. The
combination of SeABank's rapidly growing customer base and our
proven distribution expertise will deliver a leading bancassurance
franchise in Vietnam. We will continue to invest in our partnership
network, alongside our well-established and successful agency
force."
Ms Le Thu Thuy, Chief Executive Officer of SeABank, said, "This
partnership enables us to offer our growing customer base access to
Prudential Vietnam's market-leading and innovative product suite.
It is a clear demonstration of our commitment to fulfilling the
evolving savings and protection needs of our customers and we look
forward to collaborating closely with Prudential Vietnam to deliver
a superior customer experience."
Enquiries:
Media
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Investors/Analysts
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Tom
Willetts
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+44
(0)20 3977 9760
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Patrick Bowes
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+44 (0)20 3977 9702
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Addy
Frederick
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+44
(0)20 3977 9399
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William Elderkin
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+44 (0)20 3977 9215
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Ee
Ching Tan
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+852
2918 6396
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Darwin Lam
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+852 2918 6348
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About SeABank
Established in 1994, SeABank is a prominent joint-stock commercial
bank in Vietnam with 1.2 million customers, over 4,000 employees
and almost 170 branches nationwide. It aims to become the leading
retail bank in Vietnam through a customer-centric strategy and by
providing a diverse range of financial products and services to
individuals, small business enterprises and large
enterprises. SeABank is considered one of the pillars in
the Vietnamese banking system with a charter capital of VND 9,369
billion, B1 rating by Moody's and is Basel II compliant. With its
recent digital-convergence approach, SeABank is well-positioned to
deliver best-in-class solutions to consumers and fulfil its mission
to be become "the most favorite leading bank in
Vietnam".
About BRG Group
BRG Group is a leading diversified Vietnamese conglomerate with
over 10 million customers and which is active across 15 business
sectors, including finance and banking, real estates, hotels and
resorts, recreation and commerce and retail. It has a proven track
record of cooperating with multinational companies to build an
ecosystem with a comprehensive range of products and services that
contribute to the development of the community and
country.
About Prudential Vietnam
Prudential Vietnam is a subsidiary of Prudential plc, a
leading global financial group headquartered in the
UK. It has operated in Vietnam for
over 20 years and is focused on expanding
the life insurance market and changing people's
perception of insurance. As of 30 June 2019,
Prudential Vietnam had over 200,000 financial
consultants, over 360 sales offices and 1.5
million customers. Besides its core business, Prudential Vietnam
also focuses on social responsibility. During the period of 2012 -
2018, it contributed VND175 billion across three pillars
of education, healthy living, and safety. In 2019,
marking its 20-year anniversary, Prudential Vietnam has
launched a new brand commitment "Listening. Understanding.
Delivering." reaffirming its commitment to always putting
customers first, delivering innovative and comprehensive solutions
to support their evolving needs while making engagement easier for
today's digital-savvy customers.
About Prudential plc
Prudential plc is an Asia-led portfolio of businesses focused on
structural growth markets. The business helps individuals to
de-risk their lives and deal with their biggest financial concerns
through life and health insurance, and retirement and asset
management solutions. Prudential plc has 20 million customers and
is listed on stock exchanges in London, Hong Kong, Singapore and
New York.
Prudential plc is not affiliated in any manner with Prudential
Financial, Inc., a company whose principal place of business is in
the United States of America, nor with the Prudential Assurance
Company, a subsidiary of M&G plc, a company incorporated in the
United Kingdom.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
Date: 06 January 2020
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PRUDENTIAL
PUBLIC LIMITED COMPANY
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By: /s/ Thomas S Clarkson
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Thomas
S Clarkson
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Company
Secretary
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