After being sued by Prudential Singapore over the exodus of 244 advisers, former agency manager Peter Tan has counter-sued the insurer's ex-CEO and two managers for secretly recording him and is seeking compensation.
Prudential Assurance Company Singapore is seeking up to S$2.5bn from Tan over the alleged poaching of 244 agents and agency leaders, who moved from the insurer to Aviva's subsidiary, Aviva Financial Advisers.
Amid the legal battle, Tan is suing former Prudential Singapore CEO Philip Seah Cheng Chua and agency leaders Wendy Ho Xiang Yu and Royston Ng Youliang, the Business Times reported. The suit alleges that Seah had "wrongfully" induced Ho and Ng to secretly record and hand over their conversations with Tan to the insurer, breaching their confidentiality obligations. Tan also alleges that the two agency leaders have been rewarded by the insurer for their actions.
The statement of claim describes Ho and Ng as members of Tan's agency, Peter Tan Organisation (PTO), and says they had entered into an agreement with him in October 2013 to maintain confidentiality on PTO's business strategies, operations and other sensitive information.
The case is in the pre-trial phase, after failed attempts by the three defendants to strike out the lawsuit.
In their defence, Ho and Ng claimed they were pressured into signing the agreements and were not given to opportunity to seek legal advice. Furthermore, the duo maintained that they did not benefit from revealing the information, and that they, as well as Ho's husband, were promoted on grounds of merit.
The defendants will take the stand as plaintiff witnesses in the trial of Prudential vs Tan.