UOB reviewing insurance deal with Prudential

SINGAPORE: United Overseas Bank Ltd is reviewing its insurance business, including an existing partnership with Prudential Plc, after Southeast Asia witnessed a wave of lucrative distribution deals, people familiar with the matter said.

UOB has been soliciting ideas from potential advisers regarding its life insurance tie-up with Prudential, including ways to get more value out of the operations, said the people, who asked not to be identified because the information is private. Possibilities include renewing its agreement with the London-based insurer, which started in 2010, or looking for another partner, the people said.