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Prudential seals USD380 million deal to lift stake in Malaysian unit

Fri, 30th Jan 2026 09:41

(Alliance News) - Prudential PLC on Friday said it completed a deal to bolster its stake in Prudential Assurance Malaysia Bhd.

The Asia-focused insurer now has a 70% stake in Sri Han Suria Sdn Bhd, the holding company of PAMB, after acquiring a further 19% for MYR1.52 billion, around USD380 million. The stake was bought from Detik Ria Sdn Bhd.

PAMB is Prudential's conventional life insurance business in Malaysia, which together with its interest in the sharia business of Prudential BSN Takaful Berhad, are reported collectively as Prudential's Malaysian life insurance segment.

"Increasing our ownership of PAMB reflects our deep commitment to Malaysia and our confidence in its future," said Prudential Chief Executive Anil Wadhwani earlier in January.

Prudential also earlier in January said it agreed to cooperate with Detik Ria in connection with selling its remaining 30% shareholding in Sri Han Suria, should it decide to sell.

Prudential shares rose 0.2% to 1,198.00 pence each in London on Friday morning.

By Eric Cunha, Alliance News news editor

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