British-based Prudential to start with health products as branch opens in Macau

An insurance agency incorporated in England 175 years ago said it would focus on healthcare-related products amid the early phase of its official debut in Macau.

British-based Prudential PLC opened its Macau branch yesterday morning.

Speaking at the opening ceremony, Chris Ma, general manager of Prudential Hong Kong Limited (Macau Branch), said that there is a growing demand for private medical care in Macau and the Greater Bay Area (GBA).

When combined with the Macau government’s proactive development of the Comprehensive Health Industry and Modern Finance Industry, a real opportunity and perfect environment for Prudential’s entry to the Macau market has emerged, the executive underlined.

“We are committed to developing local skills and talent as we aim to be a positive influence contributing to the development of the Macau economy,” added Ma.

On the sidelines of the opening ceremony, Ma pledged that the insurer will not engage in destructive competition in Macau. Expressing his confidence in his company’s products, he believes that clients in Macau will gradually be attracted to the insurer.

In contrast to many incoming businesses that see Macau as a springboard for the mainland Chinese market, Ma said that Prudential would – at least during the early phase of local operations – focus on serving the people of Macau.

By leveraging its nearly 60 years of experience in Hong Kong offering healthcare insurance products, the insurer is confident that its similar products will be appealing to the Macau market as well.

Commenting on the branch opening, Anil Wadhwani, CEO of the insurer, said, “Prudential is here to become a trusted partner to our customers – using our global expertise and pioneering spirit to offer products and services locally that enrich lives and help customers secure their financial future.”