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The Sun
13-05-2025
- Business
- The Sun
Prudential Singapore sweeps global MDRT Culture of Excellence Awards with 13 agency leaders earning the prestigious distinction
SINGAPORE - Media OutReach Newswire - 13 May 2025 – Prudential Singapore ('Prudential') has set a new benchmark in the financial services industry, with 13 of its agency leaders receiving the 2025 Million Dollar Round Table (MDRT) Culture of Excellence (COE) Awards, out of a global pool of 33 winners. With more than a third of the award recipients, Prudential topped the table with the highest number of MDRT COE winners this year. Recognised as a global premier association, MDRT members exemplify international standards of excellence in the life insurance and financial services industry. The MDRT COE Awards celebrate the global standard of financial services leadership and honour agency leaders who produce the best results across six criteria[1] or areas of agency management: production, retention, recruitment, persistency, whole person, and MDRT/MDRT Academy membership. Prudential offers its financial representatives a strong in-house MDRT support programme that nurtures qualifiers through mentorship programmes, study groups, and participation in regional and industry-led MDRT events. Mr Rom Lee, Chief Agency Officer, Prudential Singapore, said: 'We are pleased to celebrate our largest ever cohort of MDRT Culture of Excellence Awards winners. This speaks to Prudential Singapore's strong MDRT culture of sharing, where agency leaders engage in a collaborative exchange of their professional journeys and knowledge with others from across our wider agency force. We believe that through such sharing, we can together drive overall company growth and improved customer experiences. 'I would also like to commend the dedication and hard work of our 13 MDRT COE agency leaders who set the bar high. They lead by example whether it's by training their teams, giving back to our wider agency force through sharing of knowledge or contributing to our wider society through community engagement. With their strong leadership, our financial representatives will continue to provide the highest level of service and support to our customers.' Five Prudential agency leaders hit a milestone by winning the award for three consecutive years. Among them is Mr Bryan Phang, Financial Services Director, Prudential Singapore, who is the only three-time Diamond category awardee globally, having met five out of six criteria for the Awards. Said Mr Phang: 'Receiving the MDRT Culture of Excellence Awards was only possible with the hard work and dedication of our entire team. We emphasise a strong culture of growth, learning and giving back, to ensure our financial representatives achieve high performance and develop as professionals. This recognition motivates us to keep pushing the boundaries of excellence, inspiring others in the industry to do the same, and to continue delivering exceptional service to our customers.' Agency leaders awarded the MDRT Culture of Excellence include: Prudential's MDRT cohort has consistently demonstrated outstanding performance and exceptional growth. In 2024, the insurer produced 1,125 MDRT qualifiers, 151 Court of the Table (COT) qualifiers, 61 Top of the Table (TOT) qualifiers and nine MDRT COE Awards winners. Prudential remains committed to invest in the professional development of its financial representatives. It provides comprehensive training programmes including the Financial Consultant Induction Programme (FCIP) for new joiners which equips them with an Institute of Banking and Finance Qualified (Level 1) certification. Agency leaders are encouraged to pursue the Chartered Insurance Agency Manager designation to enhance their management skills. Additionally, Prudential's in-house High Net Worth (HNW) Skill Up Series trainings, along with the Certified Affluent Wealth Adviser and Advanced Affluent Wealth Adviser programmes by the Wealth Management Institute, help financial representatives to better serve affluent and HNW customers. In 2024, Prudential's Management Associate Programme (MAP) was enhanced to support fresh graduates and young professionals in building their careers as financial representatives[2]. Prudential has more than 5,400 financial representatives with our tied agency and financial advisory arm, Prudential Financial Advisers Singapore, as of 31 December 2024. [1] For more information on criteria for MDRT Culture of Excellence Awards, please visit:
Yahoo
22-03-2025
- Business
- Yahoo
My most exciting growth stock in the FTSE 100
My Stocks and Shares ISA may be jam-packed with dividend-paying FTSE 100 stocks but that doesn't mean that I shy away from investing in out-and-out growth businesses too. After enduring a couple of torrid years, I see one standout compelling growth story in the years ahead. Driving the narrative behind the poor share price performance of Prudential (LSE: PRU) is that China had become uninvestable. The delayed relaxation of Covid travel restrictions between the Chinese Mainland and Hong Kong undoubtedly hurt the Asian powerhouse economy. On top of that the country's bubble in real estate has been unwinding. This hurt domestic imports of commodities essential for a booming economy. Given that nearly half of all its insurance profits are derived from China and Hong Kong, its little surprise that the share price has been falling. It's down over 40% in two years. The strong FY24 results released on Thursday (20 March) highlight that the sell off had been completely overdone. New business profit was up 11% to $3.1bn. But I believe this is just the beginning. The markets in which the company operates are some of the fastest growing in the world. In both China and India, GDP is expected to grow by 5% in 2025. A growing middle class is increasingly expecting access to what Western consumers take for granted. In particular, insurance and savings products. Times may have been tough for such consumers during Covid. However, the following chart highlights that gross written premiums in its core markets has now fully recovered. Source: Prudential presentation The opportunity presented to it in the coming years is truly gargantuan. Out to 2033, the total addressable market in Asian life insurance gross written premiums is predicted to double to $1.6trn. The drivers for this growth are varied. By 2040, 28% of China's population will be over 60. Wealth creation across Asia is increasing too. Today, the region accounts for 30% of total global wealth creation. Third, are low insurance penetration rates. The gap in insurance coverage is estimated at a whopping $119trn in Asia. I believe that it is well placed to capture a significant slice of this burgeoning market. Key for the business is it growing cohort of agents. Selling insurance-related products is first and foremost a people business. Prudential has been working hard to recruit quality agents and train them in selling their products. Many of its agents are now members of the prestigious Million Dollar Round Table network. Of course, there are plenty of risks here. All insurance businesses face ongoing credit and liquidity risks. Uncertain interest rate trajectories and increasing protectionism policies could affect underlying growth drivers. This is particularly acute in China where concerns about the long-term health of its property sector won't go away. But when I look at the bigger picture here, I think it makes for one of the most compelling growth stories in the FTSE 100. The hike in its dividend per share by 13% in FY24 highlights to me that management is very bullish too. Beyond its growing dividend, it's also in the middle of executing a $2bn share buyback programme. With all this, it's little wonder I have been hoovering up Prudential shares lately while they remain cheap. The post My most exciting growth stock in the FTSE 100 appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool Andrew Mackie has positions Prudential. The Motley Fool UK has recommended Prudential Plc. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025
