Prudential plc has restructured its executive leadership across Asia, appointing John Cai (pictured) to the newly established role of regional chief executive officer for Malaysia, Indonesia, Vietnam, and agency distribution, effective April 7.
Cai’s appointment comes as Solmaz Altin steps down from his role as regional CEO for growth markets, health, and agency.
Altin is returning to Europe for personal reasons related to his children’s education. He will continue to support the business through mid-2025 as a senior advisor to ensure a seamless transition.
Cai, who will be based in Hong Kong, will report directly to Prudential plc CEO Anil Wadhwani.
He brings two decades of leadership experience in the Asian insurance sector, having previously served as regional chief executive at AIA Group, where he oversaw operations in multiple markets – including China and Vietnam – and led agency transformation. He also held the role of CEO at AXA Hong Kong.
“In John, we have hired a true industry expert. The wealth and breadth of his experience will be a real asset to us and we look forward to welcoming him to the business,” Wadhwani said.
The leadership shift includes broader structural changes to Prudential’s Group Executive Committee.
The company has redistributed responsibilities across multiple regional heads to reflect strategic priorities in various growth markets.
The new structure includes:
Wadhwani expressed appreciation for Altin’s contributions, noting his role in advancing the firm’s growth strategy.
“I’d like to express my sincere gratitude to Solmaz for his impactful contribution to Prudential. In his three years with us, Solmaz has been driving the growth and profitability of his 15 markets, most visible in the turnaround of our business in Indonesia. He has been instrumental in developing and implementing the company’s transformation strategy, including leading our technology transformation. Solmaz has also made a significant impact setting up our Health business and reinvigorating our agency capability,” he said.
In a related initiative, Prudential Hong Kong introduced PruNextGen, a new value-added platform designed to support policyholders’ children through education, skills development, and wellness services.
The platform is launched alongside the Entrust Multi-Currency Plan, a legacy planning solution targeting multi-generational wealth transfer.
Developed through partnerships with academic and health organisations including HKU SPACE, Crimson Education, ARCH Education, Britannia, EC Healthcare, and Quality HealthCare, PruNextGen offers learning tools, university preparation services, and access to physical and mental health resources.
Ivan Choi, Prudential Hong Kong chief customer and marketing officer, said the platform addresses growing demand among parents for holistic development tools – noting the company’s recent findings that 90% of parents with children under 15 support alternative education paths, but only a third have acted on it.
“This is why other than launching a new financial product, we also introduced PruNextGen to help these parents future-prove their children with a forward-thinking mindset and practical skills for them to navigate into a future that is full of new possibilities,” he said.
At the core of the initiative is the “Future Institute,” which includes the NextGen Visionary Ventures program – developed with HKU SPACE – and the Future Intelligence Programme, an online series from Crimson Education. The curriculum covers financial literacy, digital communication, leadership, and critical thinking.
Additional services include admissions consulting, mock exams for UK schools, international education strategy sessions, and mental health assessments. Immunisation services and visa medical support for students studying abroad are also part of the offering.
