Pru Life UK picks insurance veteran as new CEO

Pru Life UK CEO Sanjay Chakrabarty

Pru Life UK, one of the leading life insurers in the Philippines, has appointed banking and insurance veteran Sanjay Chakrabarty as its new CEO effective Feb. 1, subject to regulatory approval.

Chakrabarty will succeed the current CEO, Eng Teng Wong, who is moving back to Malaysia to spend more time with family.

“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,” says

Solmaz Altin, Prudential strategic business group managing director.

“In particular, Sanjay will look to strengthen our strategic partnerships in one of Prudential’s key markets and cultivate an agency force that fulfills our mission of being our customers’ most trusted partner and protector,” adds Altin.

“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,” Chakrabarty says.

Chakrabarty has 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 as well as Prudential’s Cambodia-Laos-Myanmar Hub. In these roles, he successfully led a cross-markets team and implemented strategic initiatives with material impact in all three markets. Driving innovation and growth, Chakrabarty reinstated Prudential’s Cambodia business to No.1 position in the market. He is credited for being “deeply committed to driving a customer-centric approach, and to creating a culture of excellence that attracts and retains the best talent.”

Chakrabarty started his career with Citibank India in 1997. He also worked for Citibank in Japan and Korea between 2004 to 2014. At Prudential, he had served as chief commercial officer and then CEO of Prudential Vietnam before moving to Cambodia in 2020. He also spent time as deputy CEO and head of consumer banking at Orient Commercial Joint Stock Bank in Vietnam.

He holds a master’s degree in statistics from the Indian Statistical Institute.

Established in 1996, Pru Life UK pioneered investment-linked life insurance products in the Philippines and is one of the first insurers to distribute US dollar-denominated investment-linked protection plans. It now has 173 branches, 120 general agency offices and more than 40,000 licensed agents, the largest insurance agency force in the country.