THE RESEARCH OF ORGANIZATIONAL ENVIRONMENT AND MANAGEMENT IN PRUDENTIAL PLC

The structure of the thesis This research project contains 2 main following parts:ư - Chapter 1: Prudential plc's organization and environment Introduction + Clarifying the process of fo

DA NANG UNIVERSITY

DA NANG UNIVERSITY OF ECONOMICS

STUDENT RESEARCH REPORT OF MANAGEMENT

REPORT TITLE

THE RESEARCH OF ORGANIZATIONAL ENVIRONMENT

AND MANAGEMENT IN PRUDENTIAL PLC

Author: Group 8

Instructor: Hoang Ha

Da Nang, 6/2021

CONTENT INDEX

PREFACE

1 Reasons for choosing the topic 1

2 The research subjects and scope of the thesis 1

3 Study Method 1

4 The structure of the thesis 2

CHAPTER 1 PRUDENTIAL’S ORGANIZATION AND ENVIRONMENT 5

1 Introduction 5

1.1 The process of formation and development: 5

1.2 Remarkable events and important decision-making through organization development progress 5

1.3 Purpose, Mission, Vision and Core Values 7

1.4 Organizational structure 9

2 Organizational Environment and Corporate Culture 11

2.1 External Environment 11

2.2 Corporate Culture 19

CHAPTER 2 THE INTRODUCTION OF THE ADMINISTRATOR 27

1 Character Introduction 27

1.1 Character Biography 27

1.2 Life and Career 27

2 The analysis of management roles of Mike Wells in Prudential organization 30

2.1 Statements of mission, vision, values, or business philosophies or principles 30

2.2 The analysis of the own opinions of Prudential’s Executive Mike Wells about organizational plans and strategies 34

2.3 The decription of types of plan that the manager applied to the organization 39

2.4 The administrator's perspective on organizing the operating apparatus and recruiting employees, on the role of people in business, on training the development team nearby 46

PICTURE INDEX

Picture 1-1: Prudential plc’s organizational structure 12

Picture 1-2: Prudential Icon 20

Picture 1-3: Prudential Vietnam and SeaAbank signed a Memorandom of

Understanding 21

Picture 2-1: ESG Strategy in Prudential plc 38

STUDENT RESEARCH REPORT

GROUP 8

Members and evaluating grades

Department: Banking and Finance

Major: Banking and Finance

1 Reasons for choosing the topic

In the current trend of global integration, it opens up a lot of opportunities for businesses, accordingly, the uncertain and unpredictable contexts of society have posed significant challenges for managers to be wise and quick in their decision-making That definitely requires the skills and competencies of managers in the organizational environment, it has a great influence on the success or failure of an organization For his or her authority, the administrator is the representative as well

as the leader, the "compass" in leading the employees to perform the tasks and fulfill the purpose of the organization They are also the one who connects

employees and plays a decisive role for the organization Good corporate

governance is the foundation for the long-term development of businesses,

achieving the success that the organization expects Therefore, our Group 8 made the decision to do a research for organizational environment and management in Prudential plc as an example to clarify the role of a manager and how the

organizational environment affects and influences

2 The research subjects and scope of the thesis - Research subjects:

+ Organizational environment in Prudential

+ The Executive Director Mike Wells in Prudential - The scope of this study:

+ Timing: From 5th May to 7th July

+ Content: conducting a detailed research into organizational environmental and the administrator in Prudential plc

- Analysis and Synthesis

4 The structure of the thesis

This research project contains 2 main following parts:ư

- Chapter 1: Prudential plc's organization and environment

Introduction

+ Clarifying the process of formation and development of the organization+ Describing the mission, vision, and values of the organization

+ Defining the organizational structure

Analyze the external environment and corporate culture of the organization+ Analyze the external environment

+ Analysis of corporate culture

- Chapter 2: The analysis of the administator Charater introduction

+ Talk about the life and career of the administrator of Prudential plc The administrator’s work

+ Statements of mission, vision, values, or business philosophies or principles

+ Analyze the administrator's personal views on planning and strategy+ Describe the types of plans that the administrator applys in the organization: strategic plans, operational plans

+ The manager's perspective on organizing the operating apparatus and recruiting employees, on the role of people in business, on training the development team nearby

THE EXPLANATION OF CHOSEN TOPIC

Peter Ferdinand Drucker - the father of modern business administration - once said:

"The difference between a good manager and another is knowing how to use

people" Indeed so, business is a fiercer competitive field than ever, requiring the head to be fully brave and have the right and wisest strategic mind to manage the business more and more firmly Looking back in time, we can see that from ancient times there have been organized efforts under the supervision of those responsible for planning, organizing, directing, and controlling so that we can achieve

successful results Great processes remain today such as the Great Wall in China or the Pyramids in Egypt…

Governance played a more significant role with the outbreak of the industrial

revolution that began in England in the 18th century, swept across the Atlantic Ocean, and invaded the United States at the end of its Civil War (mid-century) 19th century) The conclusions of the causes leading to the bankruptcy of enterprises can prove the decisive role of management for the existence and development of the organization Indeed, when it comes to the causes of the bankruptcy of businesses, there can be many causes, but the top cause is often still ineffective management, or incompetent managers Under the same circumstances, but those who know how to organize better and more scientific management activities, the prospect of achieving results will be more certain Of particular importance is not only the achievement of results but also the matter of less time, money, materials and other costs, or in other words, more efficiency

Today, in the integration trend of the market economy, businesses have created many opportunities but also many challenges and difficulties To survive and

develop requires businesses to constantly innovate, perfect economic management tools, increase revenue, save costs to increase profits for the company To achieve that goal, enterprises must take many measures in the process of their production and business activities

In a fiercely competitive market today, the Banking-insurance interdisciplinary is becoming an inevitable trend This association not only brings great benefits to both parties as the insurance company insurance and banks, but above all, it brings greater benefits to customers when using this service The development of the insurance market increases the cohesion of insurance businesses with other financial institutions in the financial market such as banks and securities companies Because the financial funds created by insurance enterprises to make insurance payments will

be effectively managed through reasonable fund investment activities in the

financial market Besides, bancassurance activities with cooperation between

insurers and banks to provide mutual services and diversify product baskets of both parties have really pulled commercial insurance activities commercial and banking activities closer together The financial sector of the economy is thus also more diversified and competitive

Prudential plc is a portfolio of Asia's leading businesses, focusing on structural growth markets, as well as an insurance company that is enjoying such advantages The organization will help people get the most out of life through life and health insurance and retirement and wealth management solutions Prudential's largest market is in Asia, with more than 13 million customers in 12 countries and is a leading provider of life insurance in Hong Kong, India, Indonesia, Malaysia,

Singapore, Philippines and Vietnam Prudential in the UK has around 7 million customers and is the leading provider of life insurance and pensions in the country

In order to enhance the learning and research program, our team will jointly present the results and assessments of the market, resources and management strategy of Prudential plc that we have studied However, the research has a few mistakes that are inevitable, we hope that our teacher will support, contribute more ideas and comments to make the presentation of the group better Our team honestly would like to give our thanks to the teacher Hoang Ha!

CHAPTER 1 PRUDENTIAL’S ORGANIZATION AND

5.2 Remarkable events and important decision-making through

organization development progress.

Bussiness development:

- In 1848: Prudential was founded on 30 May 1848 in Hatton Garden, London The company’s initial name was “The Prudential Mutual Assurance Investment and Loan Association” and intention to provide loans to the middle classes

- In 1854, Prudential opened the Industrial Department and sell a new type of insurance, Industrial Insurance, to the working classes

- In 1879, the Prudential Assurance Company entered its new head office, Holborn Bars

- In 1881, Prudential becomes a limited liability company

- In 1924, The company was first listed on the London Stock Exchange

- In 1986, Prudential procured the American insurer Jackson National Life

- In 1994, Prudential Corporation Asia established to grow new businesses in Asia

- In June 2000, the company was first listed on the New York Stock Exchange for the first time, helping it penetrate the US Market.

- In 2002, Prudential introduced the Plan from the Pru in the UK with numerousadvertising campaigns to show people how important financial planning is in every stage of life

From 2008 – in the present

- In 2008: Prudential extends its alliance with Standard Chartered Bank,

covering over 10 markets in Asia

- In 2009: Prudential’s first dedicated Islamic asset-management business,Prudential Al-Wara’ Asset Management Berhad, introduced in Malaysia

- In 2010, Prudential long-term cooperation with United Overseas Bank

Limited to distribute the products of Prudential life insurance through bank branches across Singapore's UOB, Thailand and Indonesia Prudential is listed on stock exchanges in Hong Kong and Singapore

- In 2012, Prudential’s asset management business introduced a new brand – Eastspring Investments

- In 2014, Prudential acquires businesses in Ghana and Kenya, marking its entrance into the fast-growing African life insurance industry

- In 2019: M&G plc separated from Prudential plc on 21 October 2019

- Nowadays, Prudential plc is an Asia-led portfolio of businesses focused on structural growth markets The business helps people get the most out of life through life and health insurance and retirement and wealth management solutions Prudential plc has 20 million customers and is listed on stock exchanges in Hong Kong, London, New York and Singapore

Important decision:

- In the mid-1980s, the deregulation of finance allows financial institutions owned estate agencies and Prudential decided to follow the early market participants

such as Provident Financial Group plc and Lloyds Bank by buying a

Huntingdon-based firm of estate agents in the summer of 1985, with £ 12m This

is said to be a test that allows the company opens a new road for the marketing ofmortgage-linked endowment policies, but after many financial institutions other follow, Prudential has quickly embarked into a acquisition trail that would quickly become the leader in terms of number of offices

- In 1986, Prudential procured the American insurer Jackson National Life Since then, Jackson has quickly grown into a multi-product, multi-channel financial services company Jackson is now providing products and services in 50 states and Washington Dc in the United States

- Prudential Corporation Asia established to grow new businesses in Asia => an Asia-led portfolio of businesses focused on structural growth markets (1994)

- Prudential develops businesses in Ghana and Kenya, helping it enter Africa's growing life insurance industry (2014) After that, Prudential has been present in six other African countries - Uganda in 2015, Zambia, Nigeria then Cameroon, Cote d'Ivoire and Togo

fast M&G plc completely separated from Prudential plc on 21 October 2019

5.3 Purpose, Mission, Vision and Core Values

Vision

Our purpose is to help people get the most out of life We make healthcare

affordable and accessible, we protect people’s wealth and grow their assets, and weempower our customers to save for their goals

Mission

Prudential aimed to be world leading, well recognized and innovative insurance company in providing professional services and variety of products that fits into all

To create long-term value for our stakeholders by:

- Offering financial security to our customers to meet their long-term

aspirations

- Developing our employees and agents and providing them with opportunities

to succeed

- Delivering profitable and sustainable growth for our shareholders

- Providing social and economic support for our communities

- Investment in the local economy to promote business growth and development

Core value

“Always find a way”

Our business is competitive We push ourselves and each other to greatness, but not

at all costs Being a team player and doing the right thing come first

- Being curious “Listen and seek to learn”

The world is changing faster than ever No one has all the answers We are humbleand always listen and seek to learn and understand

- Being empathetic “Start with a conversation”

There’s an age-old wisdom in walking a mile in another’s shoes We do that everyday, whether it is with our customers or colleagues

- Being courageous “Stand for what is right”

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Prudential’s success and culture belongs to all of us – it’s our shared legacy We

do the right thing and bring our full selves to work to build it together

- Being nimble “Adapt when goals move”

Being agile and adaptive is trending We approach our work iteratively, with

carefully - designed experiments that help us fail fast and fail forward

Evaluate: The mission statement and vision define the purpose of the organization and create a sense of familiarity and identity to employees This stimulates them to work harder to attain success Vision statement given objectives to be achieved while mission statement acts as a "compass", it provides direction for the organization The statement of the vision and mission helps arranging exactly the resources of the organization to achieve success The mission statement provides organizations a clear and effective way to make decisions, while the vision statement to make sure that all such decisions are consistent exactly with what the organization wants to attain Those also provides focus to help engage people with the organization and ensure that everyone is working towards the company's ambitions Therefore, the organization increase productivity and efficiency

5.4 Organizational structure

The simplified chart below shows the governance and organizational structure of the Prudential Group in 2020

Picture 1-1: Prudential plc’s organizational structure

So, this is a Hierarchical Organizational Structure because the chart has the

pyramid-shaped and the chain of command goes from the top down

Hierarchical organizational structure in Prudential is a matter for the settlement

of claims is restricted only for a short time This will affect the decision because

all resolved cases should be scrutinized and processed efficiently Time isimportant but professionalism is key to it Employees should solve any

settlement effectively for absolute results

6 Organizational Environment and Corporate Culture

is a global financial services company with over 20 million customers with stock market listings in London, Hong Kong, Singapore, and New York Between 2015 and 2020, Prudential Plc's total revenue fluctuated considerably Prudential Plc generated approximately 41 billion U.S dollars in total revenue in 2015 Because of the raging of the Covid-19, the total revenue in 2020 was about 56 billion dollars, down significantly from the previous year

Prudential Group is focusing on investment portfolios in developed markets in Southeast Asia With investments in many markets, it means that Prudential has to deal with international aspects Prudential is choosing Southeast Asia as the market

to focus on development Over the past decade, Southeast Asia has been a region that has maintained economic growth and financial stability In 2020, the total GDP

of Southeast Asia countries reached over 3,8 trillion USD and still increasing, besides the consumption power of Asia's middle-class population will be a force to

be reckoned with, in addition to expanding in proportion According to the

aforementioned study, Asia will account for more than 80% of global middle-class spending growth in the next ten years If this happens, Asia will be the world's largest and wealthiest region by 2030 That proves, Southeast Asia countries seem

to be a better "bait" than countries like Australia, China, etc Many reports say that

the wave of opportunities in Southeast Asia countries is huge, underpinned by thegrowth of the middle class and the shift to regional connectivity and regional valuechain growth.

Especially in Viet Nam, Prudential Viet Nam has helped Prudential provide

protection and savings solutions for customers, bringing social and economic

benefits to the local community, providing jobs and opportunities for employees, as well as financial benefits for shareholders, thanks to the close coordination of officesand business units around the world Although the strong development of the Covid-

19, Prudential promptly adjusted business activities such as applying new methods and optimizing costs, contributing to increasing pre-tax profit to 2,798 billion VND

Technologial

In 2020, Prudential implemented a lot of digitalization initiatives in improving products, processes and optimizing customer experience On well-known e-

commerce sites, a wide range of protective goods with various demands and

reasonable prices may be found All client interactions, including consultation, assessment, and payment, are put on an online platform to guarantee that they are secure and smooth, especially during the epidemic In 2020, nearly all claims were filed online, with more than 70% of them being filed online

Notably, in May 2020, at the time of the Covid-19 outbreak, in an effort to bring technological achievements in the medical field to the people, Prudential introduced

“Pulse by Prudential” - a care application The first comprehensive health based on artificial intelligence Pulse empowers users to proactively control and take care of their physical and mental health anytime, anywhere As of the end of March 2021, Pulse has more than four million downloads and is continuing to be developed to add useful new features

Prudential has introduced a new training program for its financial professionals using advanced broadcasting technology – “E-onboarding”, which the company hopes will help Prudential take the leap forward leap in digitization, will provide sales force with the opportunity to experience cutting-edge online platforms

throughout their learning curve This use of digital technology reduces training time and synchronizes classes

Sociocultural

The culture and way of life of a society have an influence on the culture of an organization in a given setting The way Prudential plc marketers comprehend and develop messages for Life Insurance sector clients is heavily influenced by the population's shared ideas and attitudes Prudential plc's leadership should consider the following social factors:

- Demographics and skill level of the population

- Class structure, hierarchy and power structure in the society

development of society, because their purpose is to help people make the most of their life Prudential provides affordable and accessible healthcare, they are the guardians of people’s happiness, wealth development

Along with the development of the economy and the increase in per capita income, Asia's population is entering the aging phase with the fastest growth rate in the

world (according to the General Department of Population and Family Planning, Ministry of Health) As age and income increase, awareness about the importance of health is also increasing At the same time, the rapid increase in medical and

treatment costs makes financial risks caused by accidents and serious health

problems also receive more attention However, according to Prudential's 2018 Life Insurance Market research, despite knowing that unforeseen risks of serious illness and accidents will have a huge financial impact, only one in six Asia surveyed are well prepared to face possible risks Therefore, the Asia market is also a place wherePrudential intends to develop more large branches here

Grasping the rapid development trend of mobile technology applications, Prudential has been pioneering promoting the digitization of services to enhance customer experience With the strategy in place, Prudential will take advantage of the

advantages it owns from extensive data on user behaviour, experience gained from operating in developed markets, system solutions and wide range of products, to combine with leading partners in artificial intelligence and technology application with the support of government agencies

Economic

Covid-19 is a pandemic, it not only affects people but also affects economies around the world But in 2020, Prudential's overall revenue was 57 billion dollars, down 12% from the previous year (total revenue of 2019 was 64,8 billion USD) In the Asia market, the sales value is still increasing in the days of the pandemic As follows, Asia’s adjusted operating profit increased by 13% to 3,7 billion USD; the embedded value increased by 13% to 44,2 billion

In particular, 2020 is a year of good changes for Prudential Vietnam Prudential Vietnam has a strong solvency margin of around 140%, assuring that it can pay clients in any circumstance Furthermore, Prudential's financial statements

demonstrate the company's great potential in business and investment operations,

with a total asset value of VND 124,280 billion, up 19.7% from 2019, and total capital investment in the economy of VND 112,208 billion, up 19.5 %

While Covid-19 will continue to create social disruption and market volatility in

2021, in 2020, Prudential has demonstrated its ability to successfully operate in pandemic environments and in emerging markets In various markets, where social distancing rules began to loosen, the Prudential side began an active recovery In the long term, there will be increasing prosperity of the people of Asia and Africa, whose needs are currently unmet by Prudential for the services they provide

Knowing these weaknesses, the leadership position of Prudential will try to focus on these places to continue to maintain Prudential's own superiority

Legal political

To create an equal business legal environment in order to maximize the resources of all economic sectors, improve the competitiveness of the insurance industry, and meet the reinsurance needs of the economy and the population; to ensure that

organizations and individuals have access to insurance products that meet

international standards; to develop a comprehensive, safe, and healthy insurance market to meet the reinsurance needs of the economy and the population; to ensure that organizations and individuals have access to insurance products that meet international standards; to ensure that organizations and individuals have access to insurance products that

The State creates favourable conditions for insurance enterprises, foreign branches and insurance brokerage enterprises in researching and developing insurance

products and encouraging organizations and individuals to participate in insurance The State creates conditions for Prudential to strengthen its self-regulatory role in the insurance sector; ensure fair competition for the legitimate interests of

organizations and individuals participating in insurance

Changes in government policy and legislation (including tax), capital control

measures imposed on companies and individuals, regulation or regulatory

interpretation affecting companies in the financial services and insurance industries

in any of the markets where Prudential operates, or decisions made by regulators in connection with their supervision of Prudential Group members which in some circumstances may be applied retrospectively may adversely affect Prudential.Prudential’s product range, distribution channels, competitiveness, profitability, capital requirements, risk management techniques, corporate or governance

structure Regulators in the nations where Prudential operates may also impose restrictions influencing the distribution of capital and liquidity across the Group's various business divisions

Environmental

In 2019, Prudential announced a renewed global environmental commitment, including a series of quantitative and qualitative goals for its business globally, toreduce its overall environmental impact in the future its activities

As a leading life insurance and wealth management company, Prudential believes that a healthy environment enables them to create and maintain value for customers, employees and investors The deteriorating environment poses unacceptable

challenges to Prudential's quality of life and business

They recognize the emerging threat of global climate change and its impact on industry, customers, employees Prudential has a strong corporate commitment to energy efficient clean and renewable energy In this work, Prudential engages with avariety of stakeholder organizations, including:

- Clouds and the Earth's Radiant Energy System

- U.S Green Bulding Council

- Performance committee – GreenPoint Center Viet Urban

- Energy Star – progam run by the US Environmental Protection Agency

Prudential focues on applying environmental management principles in their global businesses They believe doing so will benefit customer, employees, shareholders, and future generations.

Task environmentCustomer

The Prudential Plc Group is one of the world's most prestigious financial

conglomerates Prudential Corporation Asia, which includes insurance and asset management activities in 14 Asian regions, has 20 million life customers PrudentialPlc offers its clients value and service through high-quality goods, great distribution,and a creative approach Prudential faces low life insurance and mutual fund

penetration in Asia, as well as a substantial health and protection deficit, a growing working-age population, and rising consumer wealth Prudential Plc faces

challenges in the United States market, including an aging population, huge and expanding retiree asset pools, and increasing demand for guaranteed income And with Afica; Africans make use of Life insurance necessitates low-to-moderate-risk investments with a steady income More specific:

- Prudential has a customer base of more than 20 million Asian life insurance consumers Their excellent retention rate, which has stayed around 90%, and the

continuously high number of repeat purchases, which accounted for over 40% of APE sales last year, reflect the respect and confidence their consumers have for their company As a result of these dynamics, we now have a total of 24 million policies in place Furthermore, their increased focus on health and protection business is reflected in a 7% rise in sum-at-risk per policy, a leading indicator of insurance coverage Eastspring's managed funds increased

by 6% to £151 billion at the end of 2018, with a 10% increase in third-party retail clients

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- In United States with nearly 40 million Americans nearing retirement age overthe next decade, the United States is the world's largest retirement savings market A

financially secure retirement is at jeopardy for those Americans Americans want and need retirement plans that allow them to increase and safeguard the value of their current assets and provide guaranteed income that will last throughout their extended lifetimes

- Africa with more than 5 hundred-thousand customers, this place is one of the fastest-growing regions in the world, and as economies develop, people are albe to start planning for financial stability Prudential mobilizes domestic savings and investment to create employment and improve household well-being, assisting in driving economic growth and development for African’s customers

Each market has a different customer’s needs, however Prudential with the purpose

of “Helping people achieve the best things in life”, Prudential is always ready to accompany customers, especially in difficult times like the current epidemic

situation From August 7, 2020 to September 30, 2020, for each unfortunate case of COVID-19 infection, Customer will receive a support amount of money deducted from Prudential's after-tax profit, in the program "Dedicated support, united against the epidemic"

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As for Metlife, it has been a major rival of Prudential PLC Metlife is a public corporation based in New York, New York, that was formed in 1868 Metlife is alife and health insurance company, has 29.244 more workers than Prudential Plc although total revenue and new mining revenue are quite far from Prudential Plc, the company's development strategy, with a solid foundation and quite flexible changes in line with market trends, is different highly appreciated by many

enterprises in the same industry

Another main competior of Prudential Plc is AIA - is a multinational insurance andfinancial group in Hong Kong founded by the United States It’s also being

evaluated as a factor with many quite bold strategies, there may be a spectacular breakthrough in new mining revenue market share in the next few years, but the sustainability of this growth is not, it still has to wait

Meanwhile, Dai-ichi Life (is the third largest life insurance company in Japan) appears to be calming down after a period of strong development and has created no fresh market impressions ACE Life is another "mystery" to keep an eye on among the market's top insurers Both revenue and market share are not rising quickly, and ACE Life appears to be following in the footsteps of Manulife in the past, slowly butsteadily, and now ACE Life leaders are very satisfied with the results achieved.Suppliers

Prudential owns Jackson National Life Insurance, one of the largest life insurance providers in the United States, and M&G Investments, a company focused on wealthmanagement with total assets under management of more than £228 Billion

In addition, Prudential's largest affiliate is Barclays - a UK company providing professional services worldwide It is a transnational corporation that owns and conducts corporate due diligence for global financial stability and the competitivearena

When it comes to Prudential, we always think of the Former Egg Plc Shareholders.Prudential made an offer to the minority shareholders in Egg plc in December 2005

to purchase the remaining 21% of Egg shares for 0.2237 new Prudential shares foreach Egg share owned Prudential was able to compulsorily buy the remaining Eggshares on 16 May 2006 after receiving over 90% of acceptances on 4 April 2006.Eastspring Investments is a global asset management group with a focus on Asia, providing innovative investment solutions that meet the financial needs of its

clients It is one of the largest asset management companies in the region with a presence in 11 major Asian markets and with representative offices in the US andEurope The company manages $241 billion in assets (December 31, 2019) and simultaneously provides investment solutions across different asset classes

in 14 Asian countries This unique distribution channel is critical to Prudential's performance, accounting for 84% of new business profit and growing by 14% in 2018

Prudential Africa currently has over 4,000 agents and works with bank partners to provide access to more than 600 locations Across Ghana, they have long-term exclusive relationships with Société Générale, FidelityBank, and CALBank, as well

as a 15-year bancassurance collaboration with Standard Chartered Bank, which includes an agreement to cooperate closely in Africa to offer best-in-class service to local clients

In the US, Prudential announced a new distribution partnership with State Farm, in

2018 Authorized State Farm agents will begin providing a limited set of Jackson's variable and fixed index annuity products in the second half of 2019 Prudential teamed up with DPL Financial Partners (DPL) in February 2019 to offer its

guaranteed lifetime income options to independent registered investment advisers (RIAs)

6.1 Corporate Culture

Observable

Artifacts - Icons:

Picture 1-2: Prudential Icon

The company logo was first created in 1848 and depicts the image of Prudence, one of the four fundamental virtues, from a painting by Sir Joshua Reynolds Onthe first version of the company's visual identity, the logo was detailed and depicted a woman standing upright and looking into a hand-held mirror in her left hand From the right side of the boys, there is a bent snake Prudence is a symbol of intelligence and foresight, it also represents awareness of the past, present and future All the original symbols are kept in the emblem but hidden

in the woman's hair The arrow, symbolizing strength, and the serpent,

symbolizing wisdom, are placed on the left side of Prudence's face, while the mirror representing her willingness to see the world as it is, is placed on the right side of Prudence's face The woman has a red ribbon on her forehead, balanced by a simple red mark, added to the visual feature only in the late 1990s The gray and red color scheme of the Prudential logo represents the passion and strength of the company along with its energy and responsibility Light gray also evokes a feeling of comfort and balance

- Slogan: For customers, Prudential brings the motto: “Listen Understanding

Action.”: Prudential's brand commitment emphasizes human connection, simplicity, and creativity in all customer-oriented activities now and in thefuture

Picture 1-3: Prudential Vietnam and SeaAbank signed a Memorandom of

Understanding

Every year, the Group regularly organizes exchanges and meetings between the Board of Directors and employees to arouse and improve the spirit of solidarity in the company In 2019, the Group conducted many official meetings, organized events to interact with the staff under the chairmanship of two Directors Kai

Nargolwala for Asia, Africa and Tom Watjen for the US, UK – two Non-ExecutiveDirectors are appointed to represent employee interests in line with new

requirements under the revised Corporate Governance Code

Due to Covid-19, activities at the company in 2020 are limited, but some events are still happening At numerous locations, Prudential Corporation Asia's PruPride network once again held "Pink Day" in October, with active participation in

Southeast Asian countries A networking event for women with a webinar session inSeptember, attended by over 150 workmates on the theme 'Leading for Change', led

by Human Resources Director Jolene Chen The company's Chairman of the Board hosted a live event in November with Eastspring partners in Singapore Jackson's interest groups and business resources, each supported by one or more sponsors, have continued their activities throughout the year: Pride (LGBT+); VIBE (Vision inBlack Excellence); Empowerment (women's network); Activate (for people with disabilities)

The focus for 2021 is to improve the company's governance structure and

procedures for its network of relationships to support them through a global affiliateprogram to increase employee engagement across the organization, regional and local locations

- Employee value proposition

With an inclusive and work environment, Prudential continuously develops

employee talent, rewards excellent performance, protects people and values

difference, is the key to delivering outstanding results for employees, Prudential'scustomers and community