Prudential's S$2.5bn claim after mass exodus questioned in court

Pedro Gonçalves
clock • 1 min read

The defence team of former top agency manager Peter Tan Shou Yi are questioning the estimates of future profits lost by Prudential when 244 of its agents left the firm, allegedly poached by Tan for rival Aviva. Prudential's claims for compensation include projections for the profits that would have been made by the agents who left. According to estimates, its losses in profits to be around S$300m if the agents had stayed for ten years; and if they stayed in perpetuity, the losses would amount to S$2.5bn. Referring to a media report of underwriting losses recorded by Prudential in 2015...

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