Prudential Zambia opens for business with ambitious plans for growth

December 9, 2018

Prudential plc, one of the world’s oldest and most strongly capitalised life insurers, today opens for business in
Zambia. This follows the acquisition of Professional Life Assurance by Prudential last month and the granting of
regulatory approval.

Professional Life Assurance is now known as Prudential Life Assurance Zambia and becomes part of one of the
largest financial services companies in the world. Prudential, listed on the London, Singapore and Hong Kong
stock exchanges, has 24 million life insurance customers in the UK, Asia, the United States and Africa, and
US$660 billion of assets under management.

The launch demonstrates Prudential’s commitment to Africa following the opening of businesses in Ghana and
Kenya in 2014, and in Uganda last year.

Prudential has ambitious plans to create a market-leading insurer serving the growing long-term savings needs
of Zambians. It intends to create hundreds of high quality jobs, which will be a mixture of employees and selfemployed
agents. Prudential Zambia will also draw on its expertise from throughout the world to provide high
quality products for customers.

Prudential has a long track record of making substantial investments in the communities in which it operates in
the UK, Asia, the United States and elsewhere in Africa. Prudential Zambia intends to offer 1,000 Prudential
Scholarships to support young people who are marginalised and excluded from secondary education,
including girls and those with disabilities.

Matt Lilley, Chief Executive of Prudential Africa, said: “We are delighted to launch Prudential Zambia, which
has the distinction of simultaneously being both the country’s newest and oldest insurance company.

Although we are launching Prudential Zambia today, Prudential has provided insurance for 168 years and is
one of the best-known and most trusted company names in the world. Our customers in Zambia will be able to
count on the strength and experience of one of the world’s leading insurers.”

Krishnaswamy Rajagopal, Chief Executive of Prudential Zambia, said: “We are very excited to be part of one of
the world’s strongest and most respected companies and look forward to working with colleagues globally to
provide high quality products for our customers. I am also delighted that we will be able to make a substantial
investment to offer 1,000 Prudential Scholarships over five years to support marginalised young people.”

Enquiries:
Tom Willetts +44 (0)20 7548 2776 / +44 (0)7780 226 720

About Prudential plc
Prudential plc, which is incorporated in England and Wales, and its affiliated companies constitute one of the world’s leading financial services groups, serving around 24 million insurance customers. It has US$660 billion of assets under management. Prudential plc is listed on stock exchanges in London, Hong Kong, Singapore and New York. Prudential plc is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America.

About Prudential Life Assurance Zambia
Prudential Zambia is a licensed long-term insurer, pension fund manager and pension scheme administrator. Professional Life writes and transacts long-term insurance including individual life assurance, group life assurance, credit life assurance, funeral insurance, health insurance and managed health care schemes, annuities and group pensions. The company has 12 branches and sales offices in Livingstone, Choma, Mazabuka, Lusaka, Kabwe, Chipata, Kasama, Ndola, Kitwe, Chingola, Lumwana and Solwezi.

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