Prudential PLC Raises Stake in Malaysia Conventional Life Insurance Business to 70%

By Megan Cheah

Prudential PLC is raising its stake in its Malaysian conventional life-insurance business.

A wholly owned subsidiary of the London-domiciled insurer agreed to buy a 19% stake in Sri Han Suria, the holding company of Prudential Assurance Malaysia, for around $375 million, Prudential said Thursday.

Prudential will hold a 70% stake in Prudential Assurance Malaysia after the completion of the deal, which has been approved by Malaysia's central bank, the insurer said. Investment holding company Detik Ria will hold a 30% stake in the company after the deal.

Prudential's Malaysian life-insurance segment comprises Prudential Assurance Malaysia and the London-based insurer's stake in the sharia business of Prudential BSN Takaful Bhd. Prudential estimates the deal would have been accretive to the group IFRS-adjusted earnings per share for the six months ended June.

Like HSBC, Prudential is domiciled in the U.K. but focuses on other regions. Prudential, which targets the African and Asian markets, has dual primary listings in London and Hong Kong, as well as a secondary listing on the Singapore Stock Exchange.

The insurer has undergone significant changes in recent years. It spun off its U.S. business, Jackson Financial, in 2021 after activist hedge-fund Third Point called on the company to split its U.S. and Asian operations. In 2019, it spun off its U.K. fund-management unit M&G.

Prudential's move also comes as peer HSBC plans a strategic review of its insurance business in Singapore, as part of its strategy to simplify its businesses.

Write to Megan Cheah at megan.cheah@wsj.com

(END) Dow Jones Newswires

January 22, 2026 05:17 ET (10:17 GMT)