Hong Kong: UK's Prudential to change main regulator
Source: Asia Insurance Review | Sep 2018
The UK’s largest listed insurance group, Prudential, will change its main regulator to the Hong Kong Insurance Authority after it spins off its UK business.
Currently, the group is supervised by the UK’s Prudential Regulation Authority, but the separation will mean the remaining business will consist of operations in Asia, Africa and the US.
The group announced in March that it would demerge its UK business, called M&G Prudential. The split is likely to take place in 2020.
Despite the change in regulator, Prudential will remain domiciled and listed in the UK and its head office will be in London. A