Prudential reveals board changes

Prudential reveals board changes | Insurance Business Asia

Insurance News

Prudential reveals board changes

Audit committee’s chair will retire at the conclusion of the company’s AGM

Insurance News

By
Kenneth Araullo

Prudential has announced several changes to its board of directors.

The insurer has announced the appointment of Mark Saunders as a non-executive director, effective from April 1, 2024. In his new role, Saunders will also join the Audit and Risk Committees.

With 35 years of experience in the insurance industry and a focus on Asian markets, Saunders is a qualified actuary and has spent the last 30 years based in Hong Kong. He was a part of the executive committee of AIA Group as chief strategy and corporate development officer from 2014 to 2022. Prior to this, he worked at Tillinghast (now Willis Towers Watson), where he conducted actuarial appraisals across 20 markets in Asia Pacific and led the Hong Kong business.

Regarding changes to the audit committee, David Law, a board member since September 2015 and chair of the audit committee since May 2017, will retire at the conclusion of the annual general meeting (AGM) on May 23, 2024 and will not seek re-election.

In line with this, Jeanette Wong will take over as chair of the audit committee from March 20, 2024, following the release of the group’s full-year results for 2023. Wong has been part of the audit committee since her board appointment in May 2021.

In addition, Shriti Vadera, chair of Prudential, will become a member of the remuneration committee after the AGM.

Vadera commented on the appointments, acknowledging Saunders’ extensive experience in the insurance industry and his value to the board and committees.

“We will have the opportunity to express our gratitude to David more fully at the AGM in May. In the meantime, on behalf of the board, I would like to thank him for his immense contribution to the board, in particular through his leadership of the audit committee for the past seven years, and to thank Jeanette for agreeing to take on this additional responsibility,” Vadera said.

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