The command of this world’s largest insurance company is now in the hands of an Indian
Prudential Insurance Company has appointed an Indian-origin officer as CEO
After levying the biggest fine in history to the world’s largest insurance company Allianz, another big insurance company has come into the limelight today. According to reports, Prudential Insurance Company has appointed an Indian-origin official as its CEO. Prudential Plc on Wednesday nominated Manulife executive Anil Wadhwani to the position of its Chief Executive Officer. The company said that Wadhwani will assume the top position in the company in February 2023. Prudential started its business in London in 1848
The ICICI India-affiliated insurance company said that as British insurer Prudential Plc is now going ahead with plans to focus more on Asia, an Asian executive has been appointed for the same reason. Wadhwani was previously the President and CEO of Manulife Asia.
Prudential’s business and operations have undergone significant changes over the years. The company demerged its UK and European units M&G in 2019. Apart from this, American business Jackson was also thrown out last year under pressure from American activist investor Third Point. Third Point also asked Prudential to cut costs for its London head office and focus on local talent in Asia. As such, Prudential announced in February that the company’s new CEO and senior management team would be from Asia following the retirement of Mike Wells. Wadhwani will take charge at Prudential’s Asia headquarters in Hong Kong.
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