LONDON, UK / ACCESSWIRE / July 20, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Prudential Financial, Inc. (NYSE: PRU), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=PRU. The Company and CT Corp. announced on July 18, 2017, that they have formed a joint venture to provide life insurance solutions and financial protection to the growing population of Indonesia through a multi-channel distribution strategy. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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Prudential Acquires a 49% Stake in CT Corp.'s Subsidiary

As of now, OKJ regulators in Indonesia have approved the agreement. As a part of this agreement, Prudential's Pruco Life Insurance Company has acquired a 49% stake in CT Corp.'s wholly owned life insurance subsidiary, PT Asuransi Jiwa Mega Indonesia. The joint venture (JV) agreement closed on July 03, 2017. This is being considered as the largest deal in the sector in a long time.

Prudential to Get an Entry into the Indonesian Market

Charles Lowrey, Executive Vice President and Chief Operating Officer of Prudential's International businesses, announced that Prudential is delighted to partner with CT Corp., one of the largest and most prominent business groups in Indonesia. This will provide Prudential an entry into the attractive Indonesian market, which has a long-term growth potential, low insurance penetration, and a well-developed regulatory environment. He thus stated that this partnership would boost Prudential's business growth strategy and geographic footprint.

He believes that CT Corp.'s customer reach and strong brand presence coupled with Prudential's established insurance and asset management expertise, operational, and technological processes, product innovation, risk management, and talent pool would provide Indonesia's growing middle-class access to a range of financial protection and insurance solutions. He also expressed that the Company has wanted to come to Indonesia for some time and spent three years working on a strategy with CT Corp.

Indonesia, an Attractive Market for Life Insurance

Indonesia is the third most populated country in Asia and the fourth most populated globally. It has recorded an average annual GDP growth of 5.3% over the last 15 years. The life insurance premiums in the country are expected to grow at a compound annual growth rate of 13% within the 2015-2020 time periods. However, currently, the penetration is rather low at 1.3% of GDP, which is around one-third the penetration in Malaysia and half the penetration in India. This signifies the huge scope for the insurance industry in the country.

CT Corp. to Benefit from Prudential's Operational Capabilities

Chairul Tanjung, Chairman and Founder of CT Corp., reaffirmed that trends such as increasing disposable income, greater life expectancy, and growing financial literacy are creating more and more need for life insurance in Indonesia. He believes that the combination of Prudential's strong products and operational capabilities with CT Corp.'s elaborate local presence and understanding of the local market would provide better protection to Indonesian people and therefore strengthen the social and economic potential of the country.

About Prudential Financial Inc.

Prudential Financial Inc. is a financial services leader with more than $1 trillion of assets under management as on March 31, 2017. The Company serves retail and institutional customers in more than 40 countries in North America, Asia, Europe, and Latin America. The Company's diverse and talented employees work to help individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management.

About CT Corp.

CT Corp., which was founded in 1987, has now become the largest integrated consumer-focused business group in Indonesia. The group is managing more than $10 billion in assets and has more than 100,000 employees. It is a leading player in the financial services, media, retail, property, and lifestyle and entertainment sectors in Indonesia.

Last Close Stock Review

On Wednesday, July 19, 2017, the stock closed the trading session at $111.30, slightly rising 0.63% from its previous closing price of $110.60. A total volume of 1.45 million shares has exchanged hands. Prudential Financial's stock price soared 6.84% in the last three months, 5.41% in the past six months, and 48.06% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have gained 6.96%. The stock is trading at a PE ratio of 11.31 and has a dividend yield of 2.70%. At Wednesday's closing price, the stock's net capitalization stands at $48.12 billion.

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