UK insurer Prudential to increase headcount, expand operations

Prudential Plc, Britain's largest insurer, plans to expand operations and open more offices in China, as it steps up efforts to expand its presence in the country's insurance sector, according to a senior company executive.

Nic Nicandrou, chief executive of Prudential Corp Asia, said that its life insurance joint venture with CITIC will set up its 20th branch in Northwest China's Shaanxi province. It also plans to open new offices in 10 to 15 cities, and recruit more insurance agents in China.

"Last year, we increased the number of agents by 9 percent to 48,000. We also partnered with more than 40 banks and have access to 5,000 bank outlets. We will continue to broaden our distribution network in China," Nicandrou said.