Prudential Appoints John Cai as Regional CEO as Solmaz Altin Prepares to Depart

Prudential plc announced the appointment of John Cai as Regional CEO for Malaysia, Indonesia and Vietnam, as well as Agency, effective 7 April 2025. The change follows the planned departure of Solmaz Altin, Regional CEO for Growth Markets, Health and Agency, who is returning to Europe for family reasons.

John Cai will be based in Hong Kong and report to Prudential CEO Anil Wadhwani. He joins with over 20 years of leadership experience across Asia, including senior roles at AIA and AXA Hong Kong.

Solmaz Altin, who will stay on as an advisor until the second half of 2025, played a key role in driving Prudential’s growth strategy and business transformation. His contributions included strengthening operations in Indonesia, leading the technology transformation, and launching the Health business.

With Solmaz’s departure, the regional structure has been adjusted:
- John Cai will lead Malaysia, Indonesia and Vietnam and oversee Agency.
- A new Regional CEO covering India, Africa, the Philippines, Cambodia, Laos and Myanmar, with responsibility for Health, will be named later.
- Dennis Tan will continue as Regional CEO for Singapore and Thailand, with a focus on Partnership Distribution.
- Angel Ng remains Regional CEO for Greater China, overseeing Customer and Wealth.

Prudential plc operates in 24 markets across Asia and Africa, offering life and health insurance and asset management services. It is listed on the stock exchanges of Hong Kong, London, Singapore and New York.

PRUDENTIAL PLC ANNOUNCES JOINT VENTURE WITH HCL GROUP FOR HEALTH INSURANCE IN INDIA

Prudential plc has announced a new joint venture with Vama Sundari Investments, an HCL Group company, to establish a standalone health insurance business in India. Prudential's UK-based subsidiary will hold a 70% stake, while Vama will hold 30%, pending regulatory approval.

The partnership aims to support India’s growing healthcare sector and contribute to the government’s “Insurance for All by 2047” vision. Anil Wadhwani, CEO of Prudential, emphasized India’s strategic importance and the opportunity to expand health coverage amid a growing middle class. Shikhar Malhotra, Executive Director at Vama, highlighted the joint mission to improve healthcare access and drive insurance penetration.

Amar Joshi has been named CEO designate of the joint venture, subject to regulatory approval.

The new venture will build on Prudential’s longstanding presence in India through its partnerships in life insurance and asset management, including ICICI Prudential Life and ICICI Prudential Asset Management. HCL Group, known for pioneering modern computing in India, brings experience from its diverse businesses, including healthcare.

The collaboration aims to provide accessible, high-quality health insurance across India, especially in underserved areas.