Pru Life UK announced Thursday the appointment of Sanjay Chakrabarty as its new chief executive effective Feb. 1, 2024, subject to regulatory approval.
Chakrabarty will succeed Eng Teng Wong, who is moving back to Malaysia to spend more time with his family.
Solmaz Altin, Prudential Strategic Business Group managing director, said: “I’m delighted that we have strong talent across the Prudential Group to support our ambitious growth plans, and Sanjay will bring a wealth of industry experience to Pru Life UK.”
“In particular, Sanjay will look to strengthen our strategic partnerships in one of Prudential’s key markets and cultivate an agency force that fulfils our mission of being our customers’ most trusted partner and protector,” said Altin.
Chakrabarty has deep knowledge of the banking and insurance sectors, having worked across multiple Asian markets for the past 26 years. He has been with Prudential since 2014 and is currently the CEO of Prudential Cambodia and Prudential’s Cambodia-Laos-Myanmar Hub.
In these roles, he has successfully led a cross-markets team, implementing several strategic initiatives with material impact in all three markets. Driving innovation and growth, Mr. Chakrabarty reinstated Prudential’s Cambodia business to #1 position in the market. He is deeply committed to driving a customer-centric approach, and to creating a culture of excellence that attracts and retains the best talent.
Pru Life UK is one of the leading life insurance companies in the Philippines with the largest agency network in the market.
“I’m really excited to join the winning team in one of most vibrant and fastest growing markets in Asia. We will leverage on Prudential’s brand and market leadership position with clear priorities to deliver remarkable customer experiences, power our distribution with technology and explore growth opportunities in the health insurance business,” said Chakrabarty.