Prudential to open Macau branch

Prudential has received approval from Macau to open a branch of its Hong Kong business there, the company said on Thursday.

The insurer and investment manager will initially offer life and health insurance, including multi-currency options to meet customer needs in savings, healthcare and protection.

"While we have seen rapid economic development in Macau, insurance penetration remains low... With the city's fast-aging population, there is strong demand from its residents for solutions that can help them access private healthcare facilities in Macau and elsewhere in the GBA," said Prudential's managing director of strategic business Lilian Ng.

With the addition of Macau, Prudential will have a presence in 24 markets across Asia and Africa.

Reporting by Frank Prenesti for Sharecast.com