Prudential Plc appoints new Chief Executive Officer

Prudential Vietnam Assurance Private Ltd. (Prudential Vietnam) has officially announced Mr. Kevin Joong Kwon as its new Chief Executive Officer, following approval from the Ministry of Finance.

With more than 25 years of experience in the life insurance and financial services industry across Asia, Mr. Kwon brings a proven track record in driving business growth, operational excellence, and customer-centric innovation. His appointment marks a strategic step as Prudential Vietnam looks to deepen its presence in one of its most important growth markets in the region.

“Kevin’s appointment marks a new chapter for Prudential Vietnam as we continue to build on our strong foundation here,” said Mr. John Cai, Regional CEO of Prudential. “His proven leadership and deep understanding of the local market will be instrumental as we navigate industry shifts and evolving customer expectations.”

In his new role, Mr. Kwon will lead the execution of Prudential’s strategy in Vietnam, with a focus on elevating customer experience, expanding distribution capabilities, and positioning the company as a role model in long-term value creation.

“I am honoured to return to Prudential and to Vietnam, a country I’ve long admired and worked in,” said Mr. Kwon. “We have a responsibility not only to help people protect their future, but also to reshape the way life insurance is perceived, through quality, transparency, and relevance. My priorities will be deepening customer trust, empowering our people to act with purpose and integrity, and advancing quality distribution that upholds our values, ultimately delivering long-term, sustainable value for every stakeholder we serve.”

Mr. Kwon began his career in life insurance at Prudential and has since held senior roles across several markets and top-tier insurers. His expertise spans Agency, Bancassurance, Operations, Product, and Corporate Strategy.

In 2024, Prudential Vietnam continued to strengthen its operations and enhance customer experience despite market fluctuations. The company’s total assets reached VND189 trillion ($7.27 billion), up 7 per cent year-on-year, making it the second-largest life insurer by asset size in Vietnam and the largest among foreign-owned life insurers. Its total invested assets rose by 10.3 per cent to VND168.2 trillion ($6.47 billion), while maintaining a robust solvency margin of 193 per cent. These achievements reflect Prudential Vietnam’s continued commitment to delivering long-term financial security and fulfilling its insurance obligations to Vietnamese customers.

About Prudential Vietnam

Prudential Vietnam Assurance Private Limited (“Prudential Vietnam”) is a member of Prudential plc, providing life and health insurance and asset management in 24 markets across Asia and Africa. Prudential’s mission is to be the most trusted partner and protector for this generation and generations to come, by providing simple and accessible financial and health solutions.

As of December 2024, Prudential Vietnam has a charter capital of VND7,698 billion ($296.1 million) and operates across all life insurance segments with a nationwide business network.

With the slogan “Listening. Understanding. Delivering.”, Prudential reaffirms its commitment to always putting customers first, delivering innovative and comprehensive solutions to protect people’s wealth, helping them grow their assets, and empowering them to save for their goals.