Prudential has appointed Donna Cotter as chief executive of a newly created Wealth and Bermuda division, as the island is poised to play a key role in the group's push into high-net-worth wealth management across Asia.

The insurance veteran took up the role on June 1 and will lead a new stand-alone wealth business focused on expanding Prudential's capabilities for affluent and high-net-worth customers across its Asian markets.

According to the company, Ms Cotter will also oversee the establishment of Prudential's Bermuda office, which is expected to support the group's offshore wealth solutions and broaden its offering to wealthy clients.

The appointment comes as Prudential strengthens its presence in Bermuda. Last month, the Bermuda Monetary Authority registered Prudential Bermuda ISA Ltd as a Class E insurer, one of three new insurers added to the island's market in May.

Prudential said the new dedicated wealth and Bermuda division reflects its strategy of capturing demand for wealth management services among high-net-worth individuals in Asia. The company described Bermuda as an important component of its offshore solutions platform.

In a statement announcing the appointment, Prudential said Ms Cotter would be responsible for building the stand-alone wealth business while developing the group's Bermuda operations.

Ms Cotter said she was “delighted and deeply honoured” to join Prudential and help lead the next phase of growth for the business.

“Prudential has a powerful purpose, a trusted brand, and an extraordinary presence across Asia and beyond,” she said. “I am excited to work with colleagues across the group to build our stand-alone wealth business, strengthen our Bermuda platform and deliver differentiated solutions for high-net-worth customers across our markets.”

Prudential, which focuses on life insurance and asset management in Asia and Africa, has increasingly seen wealth management as a key growth area. The company said the new structure would help it develop tailored solutions for affluent clients while expanding offshore.

The move also reflects Bermuda's growing role in the global life and wealth sector, where international re/insurers are increasingly using the island as a base for life, annuity and wealth-planning structures, including Prismic Life Holding Co’s $1.9 billion capital raise. The island has seen a steady flow of new life and annuity reinsurers in recent years, including eight of the 27 insurers registered so far in 2026.