Larissa Van Deventer's questions to PRUDENTIAL (PUK) leadership • Q1 2023
Question
Inquired about the normalization timeline for the Hong Kong business, the drivers behind strong growth in Indonesia, and the company's priorities for capital allocation.
Answer
Management expects the current Hong Kong trend, which is skewed towards savings products, to continue through the second half of the year, with a normalization in the health and protection mix occurring over the next 3 to 4 quarters. The strong growth in Indonesia was driven by a significant reactivation of the agency channel, which far outpaced the industry. For capital allocation, the first priority is organic growth, followed by building core capabilities (health, distribution tech), and then strategic inorganic opportunities like bancassurance or health acquisitions.