Prudential and ACLEDA Celebrate Seven Years of Partnership and Progress

01_Management_of_both_PCLA_and_ACLEDA_tosing_at_the_event

02_All_Members_of_President_Club_receiving_awards_at_the_event

03_Representative_from_MEF_receiving_flowers_from_PCLA_new_CEO_and_Dr_Channy

04_Representative_from_NBC_receiving_flowers_from_PCLA_new_CEO_and_Dr_Channy

05_Representatives_from_NBC_arriving_at_event

06_Mask_performance

07_Mask_performance_2

08_David_giving_speech

09_MEF_rep_giving_speech.jpg

10_NBC_rep_giving_speech

11_Dr_Channy_giving_speech

01_Management_of_both_PCLA_and_ACLEDA_tosing_at_the_event
02_All_Members_of_President_Club_receiving_awards_at_the_event
03_Representative_from_MEF_receiving_flowers_from_PCLA_new_CEO_and_Dr_Channy
04_Representative_from_NBC_receiving_flowers_from_PCLA_new_CEO_and_Dr_Channy
05_Representatives_from_NBC_arriving_at_event
06_Mask_performance
07_Mask_performance_2
08_David_giving_speech
09_MEF_rep_giving_speech.jpg
10_NBC_rep_giving_speech
11_Dr_Channy_giving_speech

Representatives from Prudential Cambodia (“Prudential”), the nation’s leading life insurer, and ACLEDA, the largest commercial bank in the country, gathered on Friday, 7 February, to celebrate seven years of strategic partnership under which Prudential’s life insurance products are distributed through ACLEDA bank branches across Cambodia. 

Prudential hosted a gala dinner at the Sofitel Phnom Penh Phokeetra Hotel to celebrate the seventh anniversary, with senior executives from ACLEDA and Prudential in attendance along with senior officials from the Ministry of Economy and Finance and the National Bank of Cambodia. 

Since Prudential launched its operations in Cambodia in 2013, its partnership with ACLEDA has been crucial to the company’s success in delivering innovative life insurance solutions to Cambodians and establishing itself as the biggest life insurer in the country. 

Prudential financial consultants based in ACLEDA branches represent the most successful distribution channel for Prudential’s solutions, which are also distributed by entrepreneurial Life Consultants from Prudential’s branch offices in Phnom Penh, Siem Reap, Battambang and Kratie. 

In 2013, Prudential financial consultants were based in only 35 ACLEDA branches. Today, there are consultants in 151 ACLEDA branches across Cambodia.

This expanding network generated 18 times more sales by mid-2019 than it did in 2013 – demonstrating the strength of the partnership and the growing awareness of life insurance solutions in the Kingdom. 

“It’s fair to say that our partnership with ACLEDA has been at the very heart of our success in our first seven years in Cambodia and we would not be in the position we are in today without the support of Dr. In Channy and his incredible team of professionals at ACLEDA,” said Mr. David Nutman, Chief Executive Officer of Prudential Cambodia. 

“One example of this success is that almost all of our sales consultants who are accredited with the Million Dollar Round Table recognition, which represents 6% of global life insurance professionals, are sales consultants based at ACLEDA branches in Cambodia,” Mr. Nutman added.

Ms. Hor Sovathana, Deputy Director, Insurance and Pension Department, Ministry of Economy and Finance, said “Prudential's business operations have contributed to creating jobs for the Cambodian people ... and helped to promote the knowledge of the insurance sector among the public. The company also enhances local expertise through workshops, trainings hosted by international experts, as well as humanitarian activities ... I would like to congratulate Prudential’s firm commitment to strengthen its business operations which help contribute to the development of the insurance sector in Cambodia. The company also takes part in promoting national economic growth and contributing to poverty reduction in Cambodia.”

Mr. Heng Bomakara, National Bank of Cambodia Deputy Director General, said “The partnership plays an important role in promoting financial inclusiveness, which is in line with the Kingdom’s policy on financial inclusiveness 2019 – 2025 … On behalf of the National Bank of Cambodia and myself, I would like to congratulate all board members, ACLEDA PLC and Prudential Cambodia staff for their achievements." 

In his speech at the gala dinner, ACLEDA President and Group Managing Director Dr. In Channy, paid tribute to Prudential staff and highlighted their professionalism and their knowledge of protection and savings solutions, which are still relatively new to Cambodians. 

Dr. In Channy said, “Life insurance sector is very important for long term financial planning, budgeting through long term savings, retirement plans and other necessary financial planning. The strong partnership of our companies has given our customers confidence to use the products and services …the success of our customers is the success of both of our companies, because we have made progress and continue to make progress together with our customers. That is why we aim to further strengthen our long term partnership.”

 

ABOUT PRUDENTIAL

Prudential (Cambodia) Life Assurance PLC (Prudential Cambodia) began operations in January 2013. By providing tailored life insurance solutions to individuals and families and conducting insurance seminars for the public, Prudential Cambodia helps Cambodians protect and secure their financial futures. Prudential Cambodia is a wholly owned subsidiary of UK-based Prudential plc*. In Asia, Prudential is a leading life insurer that spans 13 markets in Asia, covering Cambodia, China, Hong Kong, India, Indonesia, Korea, Laos, Malaysia, the Philippines, Singapore, Taiwan, Thailand and Vietnam. Prudential has a successful multi-channel distribution platform providing a comprehensive range of savings, investment and protection products to meet the needs of its customers.

* Prudential plc is an international financial services group serving more than 24 million insurance customers worldwide and has USD 825 billion in assets under management (as at 30th June 2017). Prudential plc is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America.

About ACLEDA Bank Plc.

ACLEDA Bank Plc. has four subsidiaries, they are ACLEDA Institute of BusinessACLEDA Securities Plc.ACLEDA Bank Lao Ltd., and ACLEDA MFI Myanmar Co., Ltd. as well as representative offices in the Republic of the Union of Myanmar. By August 2019, ACLEDA Bank Plc. had US$6.21 billion in total assets, US$3.76 billion in total credit balance and US$4.31 billion in total saving deposits with over 2.5 million customers.

Back to Top