SINGAPORE - Media OutReach Newswire - 7 July 2026 - Electric vehicles (EVs) have reached a defining milestone in Singapore. Allianz Insurance Singapore says the national EV conversation is evolving beyond adoption towards a fundamental shift in how drivers think about vehicle ownership, as EVs now account for the majority of new car registrations.
This shift coincides with enhanced national EV charging safety standards that took effect in April 2026, reflecting growing attention on the operational, safety and ownership implications of electric mobility as EV usage scales across the island – from where and how vehicles are charged, to how they are repaired, supported and protected over time.
"As electric vehicles become more popular, the conversation is moving beyond adoption to ownership," said Hicham Raissi, Chief Executive Officer, Allianz Insurance Singapore.
"Drivers are no longer just choosing EVs for their technology, but are increasingly focused on what it takes to protect, maintain and support them over time."
Electric vehicles differ fundamentally from conventional petrol cars. They rely on high-voltage battery systems, electric drivetrains, electronic control units and increasingly software‑enabled driving features, all of which represent a significant proportion of vehicle value. These differences introduce ownership considerations that are distinct from internal combustion vehicles, particularly as EVs become the default choice for many drivers.
In response to these evolving ownership realities, Allianz Insurance Singapore became one of the first general insurers in the market to introduce an insurance solution specifically designed for electric vehicles, with the launch of Allianz Electric Motor Protect in 2021. The coverage is built around how EVs are used and supported in practice, including considerations for electric and electronic components such as high-voltage systems and batteries, protection linked to private home charging setups, and risks associated with increasingly connected vehicles and advanced driver assistance systems. It also reflects real-world usage scenarios such as charging-related incidents and portable charging equipment, alongside the need for consistent repair quality over time.
"As EV adoption transitions into everyday ownership, insurance plays a foundational role in supporting this shift in mindset," added Raissi.
"Our focus is on ensuring protection frameworks evolve alongside mobility, so drivers can navigate electric vehicle ownership with clarity and confidence."
Allianz Electric Motor Protect is currently available to electric vehicle owners in Singapore. Coverage terms and conditions apply. To find out more about Allianz Electric Motor Protect, visit: https://www.allianz.sg/individual-solutions/allianz-electric-motor-protect.html
Protected up to specified limits by SDIC.
Hashtag: #AllianzInsuranceSingapore
https://www.allianz.sg/
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The issuer is solely responsible for the content of this announcement.
About Allianz Insurance Singapore
At Allianz Insurance Singapore, we aim to secure the future and create a positive impact on society and the environment by leveraging our expertise in risk management. As we work toward strengthening our position as one of Singapore’s leading risk solutions providers, we deliver innovative and customer‑focused protection solutions for individuals, SMEs, and mid‑corporate clients – spanning Motor, Home Content, Travel, Personal Accident, Cancer, Hospital Income, and a comprehensive suite of commercial insurance offerings.
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Agency leader Bryan Phang is the sole COE (Diamond Agency) winner to achieve four consecutive award wins; Prudential’s solid showing underpinned by its strong knowledge sharing and mentorship culture
SINGAPORE - Media OutReach Newswire - 7 July 2026 – Prudential Singapore ("Prudential") achieved the strongest showing globally in the 2026 Million Dollar Round Table (MDRT) Culture of Excellence (COE) Awards, with 29 agency leaders recognised out of 68 winners worldwide. This was up from 13 winners in 2025, reflecting the strong progress made by Prudential's agency force. Accounting for more than two in five award recipients this year, Prudential had the highest number of MDRT COE Award winners globally.
The MDRT COE Award recognises agency leaders who deliver strong outcomes across six dimensions of agency management1: production, retention, recruitment, persistency, whole person, and MDRT or MDRT Academy membership.
Mr Rom Lee, Chief Agency Officer, Prudential Singapore, said: "Having 29 agency leaders recognised on the global MDRT Culture of Excellence Awards, up from 13 last year, is a strong affirmation of the standards our leaders set for themselves and their teams. Beyond individual achievement, it reflects a culture grounded on discipline, a strong MDRT sharing culture and a deep commitment to helping customers make confident financial decisions.
"We have worked to create an environment where financial representatives can grow their careers, perform at a high level and be recognised for their achievements. As customer needs continue to evolve, this culture of excellence will remain central to how we develop a trusted, future-ready agency."
MDRT COE Award winner Mr Bryan Phang, Financial Services Director, Prudential Singapore, is the only Diamond Agency recipient globally to achieve this distinction for a fourth consecutive year. This year, the agency went a step further by achieving all six criteria of the Award. Said Mr Phang: "Earning this recognition for a fourth consecutive year is meaningful. The best teams make each other better. For us, it's about developing people, building leaders and creating a culture that can sustain success over time. We hope this recognition raises the bar for what strong agency culture and high standards can achieve."
New MDRT COE Award winner, Ms Chiam Shu Yi, Wealth Director, Prudential Financial Advisers Singapore, Platinum Agency, is recognised for developing the careers of young and mid-career financial representatives. Said Ms Chiam: "Success is never built alone. The greatest fulfilment in leadership is investing in people, helping them discover hidden confidence, and reach milestones which they thought were out of reach. By supporting others, you empower them to grow, succeed, and build lives and careers they are proud of."
Agency leaders awarded the MDRT Culture of Excellence Award include:
Diamond Agency (five out of six criteria met) - Ang Wei Boon, Financial Services Manager
- Augustine Seah, Senior Executive Wealth Director
- Bryan Phang, Financial Services Director
- Dexter Goh, Financial Services Director
- Han Chi Teng, Financial Services Director
- Joyce Chan, Financial Services Director
- Nicole Ng, Senior Financial Services Manager
- Shalyn Lee, Senior Executive Wealth Director
- Tan Chin Sian, Financial Services Director
- Wesley Ee, Associate Wealth Director
- Yugi Toh, Senior Executive Wealth Director
| Platinum Agency (four out of six criteria met) - Chiam Shu Yi, Wealth Director
- Diana Ng, Financial Services Director
- Joe Goh, Financial Services Director
- Jaslyn Ng, Financial Services Director
- Kenny Siew, Financial Services Director
- Thomas Lee, Senior Executive Wealth Director
- Tricia Tan, Senior Financial Services Director
- Zinc Goh, Executive Wealth Director
|
Gold Agency (three out of six criteria met) - Alvis Thor, Group Financial Services Director
- Andrew Ang, Financial Services Director
- Gerald Wu, Executive Wealth Director
- Jaden Wang, Executive Wealth Director
- Jeffrey Yen, Senior Financial Services Manager
- Jocelyn Kau, Senior Wealth Director
- Josephine Ho, Financial Services Director
- Ng Ling Hoong, Financial Services Manager
- Shannon Loke, Group Financial Services Director
- Tracy Chia, Financial Services Director
| Three-time consecutive Award winners - Augustine Seah, Senior Executive Wealth Director
- Joyce Chan, Financial Services Director
- Han Chi Teng, Financial Services Director
- Jaslyn Ng, Financial Services Director
- Jaden Wang, Executive Wealth Director
|
- Ang Wei Boon, Financial Services Manager
- Augustine Seah, Senior Executive Wealth Director
- Bryan Phang, Financial Services Director
- Dexter Goh, Financial Services Director
- Han Chi Teng, Financial Services Director
- Joyce Chan, Financial Services Director
- Nicole Ng, Senior Financial Services Manager
- Shalyn Lee, Senior Executive Wealth Director
- Tan Chin Sian, Financial Services Director
- Wesley Ee, Associate Wealth Director
- Yugi Toh, Senior Executive Wealth Director
- Chiam Shu Yi, Wealth Director
- Diana Ng, Financial Services Director
- Joe Goh, Financial Services Director
- Jaslyn Ng, Financial Services Director
- Kenny Siew, Financial Services Director
- Thomas Lee, Senior Executive Wealth Director
- Tricia Tan, Senior Financial Services Director
- Zinc Goh, Executive Wealth Director
- Alvis Thor, Group Financial Services Director
- Andrew Ang, Financial Services Director
- Gerald Wu, Executive Wealth Director
- Jaden Wang, Executive Wealth Director
- Jeffrey Yen, Senior Financial Services Manager
- Jocelyn Kau, Senior Wealth Director
- Josephine Ho, Financial Services Director
- Ng Ling Hoong, Financial Services Manager
- Shannon Loke, Group Financial Services Director
- Tracy Chia, Financial Services Director
- Augustine Seah, Senior Executive Wealth Director
- Joyce Chan, Financial Services Director
- Han Chi Teng, Financial Services Director
- Jaslyn Ng, Financial Services Director
- Jaden Wang, Executive Wealth Director
Prudential's agency force has continued to deliver strong results and a consistently growing number of qualifiers. In 2026, it had 1,425 MDRT qualifiers, including 186 Court of The Table (TOT) and 73 Top of the Table (TOT) qualifiers, as well as 29 MDRT COE Award winners.
Prudential continues to invest in capability building across its agency force through training and professional development pathways. These include the Financial Consultant Induction Programme (FCIP) for new joiners, which leads to an Institute of Banking and Finance Qualified (Level 1) certification, as well as leadership development tracks such as the Chartered Insurance Agency Manager designation.
The company also equips financial representatives to serve affluent and high-net-worth customers through its in-house High Net Worth Skill Up Series and external programmes including the Certified Affluent Wealth Adviser and Advanced Affluent Wealth Adviser courses by the Wealth Management Institute. In 2024, Prudential also enhanced its Management Associate Programme (MAP) to support fresh graduates and young professionals pursuing a career as financial representatives2.
Prudential has 5,400 financial representatives with its tied agency and financial advisory arm, Prudential Financial Advisers Singapore, as of 31 December 2025.
1 For more information on criteria for MDRT Culture of Excellence Awards, please visit: https://www.mdrtcenter.org/culture-of-excellence-awards
2 For more information about the enhanced Management Associate Programme, visit: https://www.prudential.com.sg/about/newsroom/press-release/2024/prudential-ramps-up-hiring
Hashtag: #Prudential #PrudentialSingapore #MDRTCOE #MDRTCultureofExcellenceAward
https://www.prudential.com.sg/
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The issuer is solely responsible for the content of this announcement.
About Prudential Assurance Company Singapore (Pte) Ltd (Prudential Singapore)
Prudential Assurance Company Singapore (Pte) Ltd is one of the top life and health insurance companies in Singapore, serving the financial and protection needs of the country's citizens for 95 years. As at 31 December 2025, it has S$66.3 billion funds under management. The company has an AA Financial Strength Rating from leading credit rating agency Standard & Poor's and delivers a suite of well-rounded product offerings in Protection, Savings and Investment through multiple distribution channels including a network of 5,400 financial representatives.
About MDRT Center for Field Leadership
The MDRT Center for Field Leadership was created exclusively for financial services field and home office leaders. As a separate, individual membership association with innovative leadership development strategies, the MDRT Center provides its members with exceptional value and leadership growth opportunities. MDRT Center membership allows increased engagement within the MDRT community while allowing leaders to develop a culture of excellence within their respective organizations. To learn more visit mdrtcenter.org.
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