Prudential to open Macau branch, appoints ex-AIA Macau CEO as general manager

The new branch is located at FIT Centre.

Prudential has secured approval from Macau officials to establish a branch of its Hong Kong business in the city.

The insurer named Chris Ma to be the General Manager of Prudential Macau with immediate effect. Ma previously served as chief executive officer of AIA Macau.

Ma is tasked with driving the operational strategy, establishing the distribution channels and building a comprehensive suite of products in Macau.

In a press release, Prudential shared that it plans to offer life and health insurance solutions in its new branch. Services include multi-currency options to meet customer needs in savings, healthcare and protection, the insurance company said.

"Whilst we have seen rapid economic development in Macau, insurance penetration remains low. With the city's fast-ageing population, there is strong demand from its residents for solutions that can help them access private healthcare facilities in Macau and elsewhere in the GBA,” said Lilian Ng, managing director, strategic business group, Prudential.

According to Prudential, Macau has a life insurance penetration rate of only 6.4% in 2021, lower than Hong Kong’s own 17.3% in the same year.

"The Macau branch will play a pivotal role in our strategy to make healthcare and financial security more accessible to people in the GBA, as we leverage our 50-year experience of providing insurance to customers in Hong Kong," said Ng.

Prudential's Macau branch is located at 12 Andar A, FIT Centre of Macau, Avenida Doutor Mario Soares.Customers can also contact Prudential Macau at (+853) 8293 0833.