Prudential sues former agency leader for up to S$2.5bn over resignations

Pedro Gonçalves
clock • 2 min read

Life insurer Prudential Assurance Company Singapore is suing former agency leader Peter Tan Shou Yi after 244 of its agents jumped ship to rival firm Aviva as seeks claims as high as S$2.5bn Aviva Singapore had prepared a war chest of S$100m to S$150m to poach 250 top agents from Prudential, the High Court heard on Tuesday in a high-stakes lawsuit, local media reported. Prudential is claiming "significant and long-lasting loss" over alleged poaching by  Tan, which resulted in 70,000 policies left with no agents, in the first litigation fallout from such a dispute. It estimates its los...

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