British insurer Prudential announced on Thursday that it has agreed to acquire an additional 19% stake in Sri Han Suria, the holding company that owns Prudential Assurance Malaysia, for approximately RM1.52 billion.
The acquisition will raise Prudential’s ownership of its conventional life insurance business in Malaysia to 70%, strengthening the group’s control and strategic presence in the country. The move follows a “full and final settlement” reached in July 2025 over a dividend claim filed by Detik Ria, the minority shareholder in Sri Han Suria, which had been the subject of a long-running dispute.
The additional stake will be purchased through Prudential Corporation Holdings, a wholly-owned subsidiary of Prudential, directly from Detik Ria. The transaction has received approval from Malaysia’s central bank, Bank Negara Malaysia, and completion is expected shortly.
Prudential Assurance Malaysia (PAMB), together with Prudential’s interest in the shariah-compliant business of Prudential BSN Takaful Bhd, constitute Prudential’s Malaysian life insurance operations. The increased ownership underscores Prudential’s long-term commitment to Malaysia and reflects the company’s confidence in the country’s growth prospects, said Anil Wadhwani, Prudential’s Chief Executive.
“Increasing our ownership of PAMB reflects our deep commitment to Malaysia and our confidence in its future,” Wadhwani said in a statement.
Following the completion of this transaction, Prudential has also agreed to cooperate with Detik Ria regarding a potential sale of the remaining 30% stake in Sri Han Suria. Should Detik Ria decide to divest its remaining shares, Prudential will work with them to facilitate a sale to one or more mutually agreed third parties.
The acquisition consolidates Prudential’s position in the Malaysian life insurance market and is expected to enhance operational efficiency, governance, and strategic decision-making within its Malaysian operations, further strengthening the group’s footprint in the region.
