Multinational insurance firm Prudential plc has announced that its subsidiary, Prudential Corporation Holdings (PCHL), has acquired a further 19% stake in Sri Han Suria (SHS), the holding company of Prudential Assurance Malaysia (PAMB).
The announcement was made in a Prudential press release dated 22 January, which stated that, following the transaction, Prudential will hold an aggregate stake of 70% in SHS.
PCHL agreed to purchase the additional 19% stake in SHS from Detik Ria for MYR1.52bn (approximately $375m), increasing Prudential’s total ownership to 70%. The transaction has been approved by Bank Negara Malaysia and is expected to be completed shortly. Based on the Prudential Group’s unaudited results for the six months ended 30 June 2025, the transaction would have increased earnings per share, embedded value, and shareholders’ equity per share.
PAMB is Prudential’s conventional life insurance business in Malaysia. Its interests in the sharia-compliant business of Prudential BSN Takaful are reported together as part of Prudential’s Malaysian life insurance segment.
Commenting on the acquisition, Prudential CEO Anil Wadhwani said, “Prudential has served Malaysian families for over a century, building a trusted life and health insurance business that supports the nation’s long-term protection and savings needs. Increasing our ownership of PAMB reflects our deep commitment to Malaysia and our confidence in its future.
“We remain focused on delivering our strategy, supported by our highly disciplined capital allocation framework, ensuring we continue to create long-term value for our customers and communities across Malaysia.”