Prudential PLC

PRU: XLON (GBR)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	GBX 9,779.00	Ddyqv	Zrnjgslcry

Prudential plc: Strategic Partnership With Bank Syariah Indonesia

Henry Heathfield

Sep 27, 2024

Prudential plc has announced a partnership with Bank Syariah Indonesia, which means Prudential will become the Shariah life insurance provider to BSI starting in early 2025. With this partnership, Prudential will broaden its distribution platform, which has predominantly relied on agents in this country. According to BSI, it is Indonesia’s largest Shariah bank with around 19.6 million customers and over 1,000 branches. Other deals here include United Overseas Bank's recent acquisition of Citigroup's consumer banking business in Indonesia. We maintain our fair value estimate and no moat rating.

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