Nishit Majmudar is the new President and CEO of Pru Life UK effective April 2007. He has an extensive actuarial background. He used to be with the Monetary Authority of Singapore before becoming the Chief Actuary of Prudential Assurance Company (Singapore) in 2000. Nish, as he would prefer to be called, took the lead in client education on retirement planning with a series of talks called “PruLink Seminars”. In the 2003 issue of Market Momentum, his advice to the man on thenishitlunch.jpg street is this: “Many of us spend most of our time thinking of ways to earn more money and hardly any time on making our money work hard. A more balanced approach could reap higher financial gains and lead to a more comfortable life, especially after retirement.”

Mr. Nishit Majmudar succeeded Mr. Charlie Oropeza and Mr. Bobby Madrid, now the Chairman of the Board of Pru Life UK.

I had the opportunity to interact with him at luggage-tag.jpgthe Leaders’ Lunch where top producers are recognized and treated to lunch with the company’s executives. It was held in Gaster Deli at 6750 Building Ayala Avenue, Makati City. We were served salad with various dressings, roast beef, fettucine alfredo, dory fish fillet, rice pilaf and for dessert, we had fruit tarts, chocolate balls, leche flan and brownies. The token was very useful and innovative-luggage tag with sewing kit.

Mr. Majmudar announced that the tie-up of Pru Life UK with Citibank is in the final stages. This affiliation will give rise to a strong brand impact beneficial to both. Citibank will promote Pru Life UK financial solutions to its cardholders. The credit card payment arrangement is a very convenient payment scheme for policyholders. With regards to the radical trend of the unit prices, he emphasized that Pru Life UK policyholders and investors must maintain their long-term horizon and the worst thing to do is to panic in response to world market reactions. He also advices investors to diversify. The cardinal rule is… high returns involve high risk.