Prudential Singapore
Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Caproasia - Learn more



This site is for accredited investors, professional investors, investment managers and financial professionals only. You should have assets around $3 million to $300 million or managing $20 million to $3 billion.










Prudential Singapore Launches New Indexed Universal Life Insurance Product PRUVantage Legacy Index for HNW Individuals Allowing Investors to Change Allocation Between Fixed & Indexed Account after 1st Year, Indexed Account Tracks S&P 500 Fast Convergence Index with Lifetime Floor Protection of 0% Which Means No Negative Returns, Fixed Account 1st Year Crediting Rate at 4.5% & Minimum Guaranteed 2% Annually, Loyalty Crediting Rate of 0.35% from 11th Year Onwards, Minimum Life Insurance Sum Assured is $500,000

5th June 2024 | Hong Kong

Prudential Singapore has launched a new indexed universal life insurance product PRUVantage Legacy Index for HNW individuals (high net worth), allowing investors to changed allocation between the fixed & indexed account after the 1st year.  The indexed account tracks the S&P 500 Fast Convergence Index, which has a lifetime floor protection of 0% (no negative returns).  The fixed account 1st year crediting rate is at 4.5% p.a. and has a minimum guaranteed 2% p.a. annually (loyalty crediting rate of 0.35% from 11th year onwards).   The new universal life insurance product PRUVantage Legacy Index minimum life insurance sum assured is $500,000 (S$674,000).  Prudential Singapore (3/6/24): “Prudential Singapore (“Prudential”) has introduced an indexed universal life (UL) insurance product, PRUVantage Legacy Index (“PVLI”), to address the growing protection and legacy planning needs of high net worth (“HNW”) individuals in Singapore.  The indexed UL plan offers customers lifelong coverage against death and terminal illness, and can maximise the growth potential of their wealth for future generations while protecting it from market downturns. That is because unlike other plans in the market, the growth potential is tied to the uncapped performance of the S&P 500 Fast Convergence Index. At the same time, customers are protected with a floor rate of 0% for the index account, which means that the index account will not lose value due to negative market returns. Customers also enjoy a crediting rate of 4.5% p.a. for their fixed account in the first year.  The HNW segment in Singapore has been growing steadily in recent years, and the proportion of millionaires in Singapore is expected to rise from 7.5% in 2021 to 13.4% by 2030. By then, the proportion of millionaires in Singapore will be higher than that of the US, China, and other economies in Asia Pacific.  PVLI is the latest addition to Prudential’s suite of insurance plans that meet the needs of the growing HNW population.   In 2024 May, Prudential has announced the shutdown of Hong Kong wealth management business Pulse Wealth, having announced the shutdown of Prudential Wealth Management Singapore in 2023 September.  In 2023 January, Prudential Singapore had announced the setting up of a financial advisory firm in Singapore providing wealth advisory, life insurance & general insurance after receiving regulatory from Monetary Authority of Singapore (MAS) on 27th December 2022.  In Singapore, Prudential has more than 5,000 financial consultants & exclusive Bancassurance partnerships with UOB and Standard Chartered. 

“ Prudential Singapore Launches New Indexed Universal Life Insurance Product PRUVantage Legacy Index for HNW Individuals Allowing Investors to Change Allocation Between Fixed & Indexed Account after 1st Year, Indexed Account Tracks S&P 500 Fast Convergence Index with Lifetime Floor Protection of 0% Which Means No Negative Returns, Fixed Account 1st Year Crediting Rate at 4.5% & Minimum Guaranteed 2% Annually, Loyalty Crediting Rate of 0.35% from 11th Year Onwards, Minimum Life Insurance Sum Assured is $500,000 “

 



- Article continues below -



Sign Up
Basic Member: $5 Monthly | $60 Yearly
Newsletter Daily 2 pm (Promo): $20 Monthly | $180 Yearly (FP: $680)


The 2024 Investment Day
23rd July Hong Kong | 25th July Singapore

Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Taking place on 23rd July 2024 in Hong Kong, 25th July 2024 in Singapore.
Visit | Register here


The 2024 Family Office Summit
16th Oct Hong Kong | 23rd Oct Singapore

Join 80 single family offices & family office professionals in Hong Kong & Singapore
Links: 2024 Family Office Summit | Register here





 

Goh Theng Kiat, Chief Customer Officer of Prudential Singapore: “High net worth individuals are looking for insurance solutions that go beyond basic protection and require plans that are tailored to securing their wealth and building a lasting legacy that can be passed on to future generations. PRUVantage Legacy Index is an insurance plan designed for this purpose, offering long-term coverage and growth potential for their legacy.” 

 

 

About PRUVantage Legacy Index (PVLI) 

PVLI is a single premium indexed UL insurance plan that offers a high death and terminal illness coverage. The policy works on a dual account structure – a fixed account and an index account that is benchmarked against the S&P 500 Fast Convergence (FC) Index. This index dynamically adjusts its allocation several times a day based on volatility observations from the market, stabilising returns during market downturns.  The key benefits of PVLI include:

  • Lifelong protection with high death and terminal illness coverage. 
  • Maximised growth potential: Customers can access high-growth potential that is linked to the uncapped returns of the S&P 500 FC Index, allowing them to reap the full benefit of market upsides.
  • Steady growth on fixed account: The fixed account enjoys a first year crediting rate of 4.5% p.a. and guaranteed minimum crediting rate of 2.0% p.a. 
  • Protection from market downturns: A lifetime floor rate of 0% for the index account and a minimum crediting rate of 2.0% p.a.
  • Customise premium allocation between fixed account and index account as financial needs and risk appetites evolve. Customers have the option to change allocations every year after the first policy year. 
  • Loyalty crediting rate of 0.35% p.a. on the fixed account from the 11th year onwards.

There is a minimum sum assured of US$500,000.   For more information on PVLI, please visit: https://www.prudential.com.sg/products/legacy-planning/pruvantage-legacy-index

 

Notes:

  • 1 Source: https://www.gbm.hsbc.com/en-gb/insights/global-research/the-rise-of-asian-wealth 
  • 2 For details on S&P 500 FC Index, please refer to: https://www.spglobal.com/ 
  • 3 Subject to prevailing participation rates. The average participation rate is 70.0% in policy illustration, and the guaranteed minimum participation rate is 40.0%. 
  • 4 The S&P 500 FC TCA 0.5% Decrement Index (USD) ER (the “Index”) is a product of S&P Dow Jones Indices LLC or its affiliates (“S&P DJI”) and has been licensed for use by Prudential Assurance Co. Singapore (Pte) Ltd. (“Prudential”). S&P®, S&P 500®, US 500, The 500, iBoxx®, iTraxx® and CDX® are trademarks of S&P Global, Inc. or its affiliates (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”). Fast Convergence and FC are trademarks of BofA Securities, Inc. and/or its affiliates (“BofAS”). BofAS has licensed the Fast Convergence (FC) patented methodology and related trademarks to S&P DJI for use in the Index. Prudential’s products are not sponsored, endorsed, sold or promoted by S&P DJI, Dow Jones, S&P, BofAS or their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the Index. For details on S&P 500 FC Index, please refer to: https://www.spglobal.com/ 
  • 5 This refers to Minimum Surrender Value (MSV) feature, please refer to Product Summary for details.

 

Prudential 

Prudential Assurance Company Singapore (Pte) Ltd is one of the top life insurance companies in Singapore, serving the financial and protection needs of the country’s citizens for 93 years. The company has an AA- Financial Strength Rating from leading credit rating agency Standard & Poor’s, with S$53.3 billion funds under management as at 31 December 2023. It delivers a suite of well-rounded product offerings in Protection, Savings and Investment through multiple distribution channels including a network of more than 5,200 financial representatives.

 

 

Prudential Announces Shutdown of Prudential Hong Kong Wealth Management Business Pulse Wealth, Head Shutdown Singapore Wealth Management in 2023 September

9th May 2024 – Prudential has announced the shutdown of Hong Kong wealth management business Pulse Wealth, having announced the shutdown of Prudential Wealth Management Singapore in 2023 September.  In 2023 January, Prudential Singapore had announced the setting up of a financial advisory firm in Singapore providing wealth advisory, life insurance & general insurance after receiving regulatory from Monetary Authority of Singapore (MAS) on 27th December 2022.  In Singapore, Prudential has more than 5,000 financial consultants & exclusive Bancassurance partnerships with UOB and Standard Chartered.

 

 

Prudential Announces Shutdown of Prudential Wealth Management Singapore, Prudential Wealth Management Hong Kong to Continue Operations

Prudential Singapore

21st September 2023 – Prudential has announced the shutdown of Prudential Wealth Management Singapore, with Prudential Wealth Management Hong Kong to continue operations.  In 2023 January, Prudential Singapore announced the setting up of a financial advisory firm in Singapore providing wealth advisory, life insurance & general insurance after receiving regulatory from Monetary Authority of Singapore (MAS) on 27th December 2022.  In Singapore, Prudential has more than 5,000 financial consultants & exclusive Bancassurance partnerships with UOB and Standard Chartered.

 

 

Prudential Singapore to Setup Financial Advisory Firm Providing Wealth Advisory, Life Insurance & General Insurance, More than 5,000 Financial Consultants & Exclusive Bancassurance Partners UOB & Standard Chartered

19th January 2023 – Prudential Singapore is setting up a financial advisory firm in Singapore providing wealth advisory, life insurance & general insurance after receiving regulatory from Monetary Authority of Singapore (MAS) on 27th December 2022.  In Singapore, Prudential has more than 5,000 financial consultants & exclusive Bancassurance partnerships with UOB and Standard CharteredPrudential on 16th Jan 2023: “Prudential Singapore announced today that it will be setting up a financial advisory (FA) firm to offer a wider range of products and services to its customers … … The financial advisory firm adds to Prudential’s existing distribution channels comprising a tied agency of more than 5,000 financial consultants, exclusive bancassurance partners – United Overseas Bank (UOB) and Standard Chartered Bank (SCB) – as well as digital channels such as the Pulse by Prudential app.” (Life insurance ~ whole life, term life, critical illness, retirement & savings insurance plans, group life & medical insurance.)

 

 

Prudential Singapore

Prudential Assurance Company Singapore (Pte) Ltd is one of the top life insurance companies in Singapore, serving the financial and protection needs of the country’s citizens for 92 years. The company has an AA- Financial Strength Rating from leading credit rating agency Standard & Poor’s, with S$53.3 billion funds under management as at 31 December 2021. It delivers a suite of well-rounded product offerings in Protection, Savings and Investment through multiple distribution channels including a network of more than 5,000 financial consultants.

 

 

Dennis Tan, CEO of Prudential Singapore

Prudential Dennis Tan

Dennis is Managing Director of the Strategic Business Group covering Singapore, Thailand and Vietnam.   Dennis has been CEO of Prudential Singapore since March 2020. He is also Deputy President in the Life Insurance Association’s Management Committee, Council Member at IBF Singapore, Multilateral Healthcare Insurance Committee Member at Ministry of Health Singapore, Board Director at the Council for Third Age, and Board Member at the European Chamber of Commerce in Singapore.

A veteran banker, Dennis has 26 years of experience in consumer banking spanning product development, segment management, marketing and sales and distribution.  Prior to joining Prudential, he was with OCBC Bank for 10 years, of which seven were spent leading a 3,100-strong consumer banking division as Head, Consumer Financial Services. Dennis also spearheaded the growth of OCBC’s Premier Banking business in Singapore, Malaysia, Indonesia and China as Head of Branch and Group Premier Banking. He was also a member of OCBC Bank’s Management Committee.




Managing $20 million to $3 billion. Investing $3 million to $300 million.
For Investment Managers, Hedge Funds, Boutique Funds, Private Equity, Venture Capital, Professional Investors, Family Offices, Private Bankers & Advisors, sign up today. Subscribe to Caproasia and receive the latest news, data, insights & reports, events & programs daily at 2 pm.

Join Events & Find Services
Join Investments, Private Wealth, Family Office events in Hong Kong, Singapore, Asia-wide. Find hard-to-find $3 million to $300 million financial & investment services at The Financial Centre | TFC. Find financial, investment, private wealth, family office, real estate, luxury investments, citizenship, law firms & more.  List hard-to-find financial & private wealth services.

Have a product launch? Promote a product or service? List your service at The Financial Centre | TFC. Join interviews & editorial and be featured on Caproasia.com or join Investments, Private Wealth, Family Office events. Contact us at [email protected] or [email protected]

Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets?



Quick Links


2021 Data Release
2020 List of Private Banks in Hong Kong
2020 List of Private Banks in Singapore
2020 Top 10 Largest Family Office
2020 Top 10 Largest Multi-Family Offices
2020 Report: Hong Kong Private Banks & Asset Mgmt - $4.49 Trillion
2020 Report: Singapore Asset Mgmt - $3.48 Trillion AUM


For Investors | Professionals | Executives
Latest data, reports, insights, news, events & programs
Everyday at 2 pm
Direct to your inbox
Save 2 to 8 hours per week. Organised for success

Register Below

For CEOs, Heads, Senior Management, Market Heads, Desk Heads, Financial Professionals, Investment Managers, Asset Managers, Fund Managers, Hedge Funds, Boutique Funds, Analysts, Advisors, Wealth Managers, Private Bankers, Family Offices, Investment Bankers, Private Equity, Institutional Investors, Professional Investors

Get Ahead in 60 Seconds. Join 10,000 +
Save 2 to 8 hours weekly. Organised for Success.

Sign Up / Register


    Investment ProfessionalAdvisorProfessional InvestorFinancial ProfessionalManagementOthers


    $20 million to $100 million AUM$100 million to $300 million AUM$300 million to $1 billion AUM$1 billion to $10 billion AUM$10 billion to $100 billion AUMMore than $100 billion AUM


    Mailing List / Free TrialMonthly SubscriptionYearly SubscriptionMembershipEvents


    2024 Investment Day Hong Kong 23rd July2024 Investment Day Singapore 25th July2024 Investment Day Hong Kong 4th Sept2024 Investment Day Singapore 11th Sept2024 Family Office Summit Hong Kong 16th Oct2024 Family Office Summit Singapore 23rd Oct / 6th Nov












    Web links may be disabled on mobile for security.
    Please click on desktop.










    Caproasia Users

    • Manage $20 million to $3 billion of assets
    • Invest $3 million to $300 million
    • Advise institutions, billionaires, UHNWs & HNWs

    Caproasia Platforms | 11,000 Investors & Advisors

    Monthly Roundtable & Networking

    Family Office Programs

    The 2024 Investment Day

    • March 2024 - Hong Kong
    • March 2024 - Singapore
    • June 2024 - Hong Kong
    • June 2024 - Singapore
    • Sept 2024 - Hong Kong
    • Sept 2024 - Singapore
    • Visit: The Investment Day | Register: Click here

    Caproasia Summits

    Contact Us

    For Enquiries, Membership
    [email protected], [email protected]

    For Listing, Subscription
    [email protected], [email protected]

    For Press Release, send to:
    [email protected]

    For Events & Webinars
    [email protected]

    For Media Kit, Advertising, Sponsorships, Partnerships
    [email protected]

    For Research, Data, Surveys, Reports
    [email protected]

    For General Enquiries
    [email protected]





    Caproasia | Driving the future of Asia
    a financial information technology co.
    since 2014




    Previous articleStandard Chartered Bank Accused in United States Court Filing of $100 Billion Money Laundering Transactions Between 2008 to 2013 Breaching Sanctions Against Iran & Funding Terror Groups Including Hezbollah, Hamas, al-Qaeda & Taliban, Standard Chartered Bank ex-Employee & Whistleblower Julian Knight Claims United States Officials Dismissed His Case in 2019 to Protect Standard Chartered Bank and Made False Statements in Court to Prevent Himself & Colleague from Getting Whistleblower Reward, Standard Chartered Bank Paid Fines of $1.7 Billion in 2012 & 2019 for Violating Sanctions on Iran & Blacklisted Countries
    Next articleSingapore OCBC Group to Issue EUR 500 Million 3-Year Covered Bond with Fixed-Rate of 3.29% Per Annum, Bond Guaranteed by Red Sail & Secured by Portfolio of Assets Bought by Red Sail from OCBC, Issue Date Expected on 11th June 2024 & Listing on Singapore Exchange on 12th June 2024
    Caproasia.com covering capital markets, investments and private wealth in Asia. Our users manage, advise & invest $25 trillion assets in Asia