Prudential Thailand boosts ESG investments to 20% of portfolio

BANGKOK – Prudential Thailand has made a strategic move to enhance its Environmental, Social, and Governance (ESG) investments to 20% of its THB120 billion portfolio, a decision unveiled amid the challenging economic landscape marked by high interest rates and household debt. The company’s CEO expressed confidence in the future of Thailand’s insurance industry, emphasizing the pandemic’s role in increasing awareness of insurance products and the importance of after-sales service in retaining customers.

The insurer’s focus on ESG reflects a broader strategy to appeal to younger consumers who prioritize social responsibility. Prudential Thailand is actively engaging in education, health, and environmental sustainability projects as part of this initiative. This approach is in line with their comprehensive ESG framework, according to CEO Bundit Jiamanukoonkit. The framework includes providing equal access to health and financial protection, particularly for the aging population, through digital innovation and sustainable products and services.

As part of its commitment to social responsibility, Prudential has launched the “Give the Future” campaign. This initiative offers free one-year personal accident coverage to workers at the Bangkok Metropolitan Administration (BMA) and government hospitals with every new policy sold. With a total sum insured of 7 billion baht, the campaign aims to extend insurance protection to these essential workers who may otherwise lack coverage.

Prudential’s dedication to responsible investing also involves reducing carbon emissions and supporting fair business transitions. The company plans to integrate sustainability education for employees, linking their performance indicators to ESG matters, and executing ESG projects by 2026. Stakeholder engagement is also a priority for co-creating sustainable change.

In his remarks, CEO Bundit Jiamanukoonkit highlighted that while 38-39% of Thais have insurance policies, more than half of the population remains uninsured. This statistic underscores Prudential’s drive to increase insurance accessibility across Thailand as part of its sustainable business growth strategy.

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