(12 January 2024, Hong Kong) Prudential Hong Kong Limited (“Prudential Hong Kong”) has been assigned “AA-” local currency long-term issuer credit and long-term financial strength ratings by S&P Global Ratings (“S&P”), with a stable outlook. The rating agency acknowledged that Prudential Hong Kong plays an important role in the growth strategy of its parent group, Prudential plc (“the Group”), and is vital to achieving the Group's objective of capitalising on the long-term opportunities in Asia.

Lawrence Lam, Chief Executive Officer of Prudential Hong Kong, said: “We are proud to have received the strong rating assigned by S&P, which reflects our position as a core operating subsidiary of the Group and a major contributor towards its financial strength. Aligning with the Group’s purpose of ‘For Every Life, For Every Future’, we have not only achieved solid success among our peers, but have also sustained growth and a top position in Hong Kong.”

Prudential Hong Kong remains dedicated to developing innovative products that offer comprehensive solutions for financial planning, as well as for life, health, savings, and retirement. Lam added: “With its 60-year presence in Hong Kong and over 175 years globally, we benefit from the strong long-term commitment and support of the Group. With the rating from S&P, Prudential Hong Kong is well-equipped to seize growth opportunities and continue providing enduring value to our customers.”

As a leading life insurer in Hong Kong, Prudential Hong Kong is a major revenue contributor to the Group, supporting the Group’s aim of increasing CAGR growth of 15%-20% in new business profit between 2022 and 2027. Prudential Hong Kong shares the Group's well-recognised brand and is fully integrated with the Group's risk and governance framework.

 

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About Prudential Hong Kong Limited

Prudential has been serving the people of Hong Kong since 1964. Through Prudential Hong Kong Limited and Prudential General Insurance Hong Kong Limited, we provide a range of financial planning services and products including individual life insurance, investment-linked insurance, retirement solutions, health and medical protection, general insurance and employee benefits. In 2023, Prudential has established a branch of its Hong Kong business in Macau, offering life and health insurance solutions.

Please visit www.prudential.com.hk for more information.