News

Growing China presence is key challenge says Prudential chief

Family_insuranceGrowing what is already a sizeable footprint in China is a key challenge, Prudential’s chief executive has said. Britain’s largest insurer has licences in around 70% of the economic footprint with China, said Mike Wells, the group’s chief executive. While China published draft rules in May that would allow foreign firms to hold controlling stakes in insurance companies, there is little evidence of any overseas company that plans to apply to do so. “Beijing is saying they have a plan for greater opening,” Wells told CNBC at the Singapore FinTech Festival. I think like everything in China the time frame is misaligned with U.S. time frames," he added. "You're not going to succeed across Asia if you're not successful in China."  While China’s opening is being widely lauded, investors are still cautious in the face of numerous short-term challenges. These include the trade war with the US, plummeting stock prices and growing defaults. ©2018 funds global asia

Executive Interviews

Interview: Asia’s sweet spots

Jul 05, 2019

As the US-China trade war ramps up with a hike in levies, Tai Hui, chief market strategist for Asia-Pacific at JP Morgan Asset Management, tells Romil Patel where he identifies investment value.

Interview: Money needs a place to go

Mar 11, 2019

Peng Fei, chief investment officer at Wanwei Asset Management, tells Romil Patel about allocating capital across risk factors when asset performance is uncertain and unpredictable.

Roundtables

ESG roundtable: Are the ESG stars aligning across Asia?

Jul 05, 2019

Our panel of experts discusses driving higher ESG asset allocation in Asia, growing calls to address the global climate crisis and the importance of governance. Chaired by Romil Patel in Hong Kong.

Singapore roundtable: A money magnet

Mar 11, 2019

Our panel discussed why the Singapore Variable Capital Company makes them bullish, what gives the onshore jurisdiction an offshore feel and “blood on the streets” from China’s slowdown. Chaired by Romil Patel in Singapore.