SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of FEBRUARY 2006
PRUDENTIAL PUBLIC LIMITED COMPANY
(Translation of registrant's name into English)
LAURENCE POUNTNEY HILL,
LONDON, EC4R 0HH, ENGLAND
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.
Form 20-F X Form 40-F
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b): 82-
Enclosures: Takaful Licence - Malaysia
FOR IMMEDIATE RELEASE
Wednesday 1 February 2006
Joint venture between Prudential and BSN in Malaysia awarded new takaful licence
Prudential Holdings, part of Prudential plc, and Bank Simpanan Nasional (BSN)
have been awarded a takaful licence by Bank Negara Malaysia. The new licence is
one of four granted by Bank Negara, bringing the total number of companies
offering Islamic insurance to nine.
Mark Norbom, Chief Executive of Prudential Corporation Asia said:
"We would like to thank Bank Negara for awarding us the takaful licence which
allows the joint venture to sell takaful products. We are very excited about the
opportunity to develop products that would have strong appeal to Muslim Malays
who make up 60% of the population. We are also delighted to be in partnership
with BSN, a well-known and well respected financial institution."
Encik Tajuddin b Atan General Manager/ Chief Executive Officer of BSN said:
"The two shareholders complement each other and the joint venture will
immediately benefit from Prudential's existing distribution of more than 7,000
agents as well as BSN's nationwide network of 391 branches. We are confident
that the joint venture will meet the ambition of the Government to accelerate
the availability of takaful products and bring insurance to Malays residing in
the cities as well as in the rural areas."
The new joint venture is expected to be operational in about four to six months.
-ENDS-
Enquiries to:
Media Investors / analysts
Jon Bunn 020 7548 3559 James Matthews 020 7548 3561
Joanne Doyle 020 7548 3708 Marina Novis 020 7548 3511
William Baldwin-Charles 020 7548 3719
*Prudential plc, a company incorporated and with its principal place of business
in the United Kingdom, and its affiliated companies constitute one of the
world's leading financial services groups. It provides insurance and financial
services directly and through its subsidiaries and affiliates throughout the
world. It has been in existence for over 150 years and has GBP214 billion in
assets under management, (as at 30 June 2005). Prudential plc is not affiliated
in any manner with Prudential Financial, Inc, a company whose principal place of
business is in the United States of America.
About Prudential
Prudential plc is a leading international financial services group, providing
retail financial services and fund management in its chosen markets: the United
Kingdom, the United States, Asia and continental Europe.
Prudential has been writing life insurance in the United Kingdom for over 150
years and has had the largest long-term fund in the United Kingdom for over a
century. Today, Prudential has over 16 million customers worldwide and over
GBP214 billion (as of 30 June 2005) of funds under management.
In the United Kingdom Prudential is a leading life and pensions provider
offering a range of retail financial products. M&G is Prudential's UK &
European Fund Manager, with around GBP126 billion of funds under management.
Jackson National Life, acquired by Prudential in 1986, is a leading provider of
long-term savings and retirement products to retail and institutional customers
throughout the United States. Egg plc, in which Prudential has a 78 per cent
shareholding, provides banking, insurance and investment products through its
internet site www.egg.com.
Prudential is the leading European-based life insurer in Asia with operations in
12 countries.
About Bank Simpanan Nasional (BSN)
BSN, or National Savings Bank, was incorporated on 1st December 1974 under the
Ministry of Finance. With its incorporation, BSN has taken over all the duties
and responsibilities of the Post Office Savings Bank.
BSN's mission is to encourage savings, investments and smart financial
management among Malaysians to increase their quality of life. BSN has grown
into more than 5,100 employees, 391 branches and 616 automatic teller machine
(ATM) nationwide.
It has embarked on a number of key initiatives to catalyse transformation, stay
competitive and be an entity which is able to create sustainable value. BSN is
continuously enhancing its services as well as expanding its range of products
for the benefit of its customers. BSN's main products include Personal
Financing, Home Loan, Premium Saving Certificate (SSP), Islamic Banking Scheme,
Giro Savings Account, BSN Matrix and Matrix-i Debit Card as well as VISA and
Mastercard credit card.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Date 01 February 2006
PRUDENTIAL PUBLIC LIMITED COMPANY
By: /s/ Jon Bunn
Director of Public Relations