Prudential Ups Stake in Malaysian Insurer
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British-domiciled Prudential has increased its stake in Sri Han Suria (SHS), the holding company of its Malaysian life insurance business, by acquiring an additional 19 percent from Detik Ria for 1.52 billion Malaysian ringgit ($375 million). This acquisition raises Prudential's total stake in SHS to 70 percent. The company has also agreed to collaborate with Detik Ria for the potential divestment of the remaining 30 percent shareholding in SHS. CEO Anil Wadhwani emphasized Prudential's commitment to Malaysia and confidence in its future.
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