Addressing the Pru’s investor conference in Singapore, Prudential chief executive Tidjane Thiam said that he want to boost presence in the Asian market while remaining "very keen" on US acquisitions, as reported by The Financial Times.
"It’s a bit difficult to say to an investor, ‘We want to be 30 times bigger’," Thiam acknowledged.
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"People look at you with a bit of disbelief. But, actually, in Asia, you actually can deliver that — country after country, time after time," he told the audiences, according to the publication.
Pointing towards the Asia’s emerging economies, Thiam said: "They are volatile. But, really, we have no doubt that it’s going to be good."
He further added that the Asian market for insurance "is going to continue growing, very fast. Ultimately it’s probably going to overtake the west."
He further said that Prudential was now eyeing potential acquisitions in the US, where it operates Jackson National Life Insurance.
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By GlobalData"It’s just a question of finding targets on the right terms," he added. "We’re disciplined but we’re very keen."
Prudential acquired a closed US life business from Swiss Re two years ago in a deal valued at £400m.
