Prudential, former top agency manager reach settlement, drop appeals

PRUDENTIAL Assurance Company Singapore and its former top group agency manager Peter Tan Shou Yi have reached a confidential settlement to drop their respective appeals, putting an end to a high-profile, high-stakes lawsuit.

Tan will also discontinue his claims against the former chief executive of the insurer and 2 agents in the global settlement, The Business Times understands.

Tan’s appeal and Prudential’s had been scheduled to be heard on Friday (Apr 22), but with the withdrawal of their appeals, that would now not proceed.