It is a joint venture between U.S.-based Prudential Financial Inc. (PFI) and Bank Simpanan Nasional (BSN).

The company was formerly known as Uni.Asia Life Assurance and was a joint venture between United Overseas Bank and DRB-HICOM.

[6] It was attracted to the venture due to opportunities for growth stemming from the low life insurance penetration rate in Malaysia.

[4] BSN is a statutory body under the Ministry of Finance responsible for encouraging savings and financial management among Malaysians, with retail deposits of RM12 billion in 2013.

[8] Its stated expansion plan is to offer easy-to-understand products, target the semi-rural and rural population, and leverage on BSN's eight million-strong customer base.