Prudential Singapore Launches Wealth Suite for HNWIs
British-domiciled insurer Prudential has introduced an enhanced offering aimed at high net worth individuals in Singapore.
Prudential Singapore has launched «Prudential Wealth Suite» – an exclusive space for the insurer’s private client advisors (PCA) to serve customers who are high net worth individuals (HNWI) – according to a statement.
It offers a private by-appointment-only environment to discuss clients' insurance and wealth management needs. This includes support from an in-house advisor as well as consultancy with an external panel of experts for tax and business advisory, legal and estate planning, fiduciary and trust services, family office advisory services as well as legacy giving for eligible customers.
The space is located at Prudential Tower in Raffles Place.
Client Segment Growth
According to the insurer, it has seen business growth amongst wealthy individuals with a 16 percent increase in the number of HNW customers from 2023 to 2024. It has also responded to this growth, expanding its team of PCAs specially trained to support the HNW segment from 60 in 2018 to 380 today.
«In tandem with the region's growing pool of wealthy individuals who view Singapore as a global wealth hub, we anticipate that overseas customers will make up a significant portion of Prudential Wealth Suite users,» said Goh Theng Kiat, Prudential Singapore’s chief customer officer.
«These customers often have complex and globally connected portfolios, and appreciate Singapore's strategic location for accessing Asian markets and a climate of stability in the country, making it their preferred location for wealth diversification solutions.»
