Analyses & Studies

Integrity, honesty, and non-solicitation obligations in agency agreements and employment contracts

Read Baker McKenzie Wong & Leow examine the SGHC's decision regarding "Prudential Assurance Co Singapore (Pte) Ltd v Tan Shou Yi Peter and another"

In 2016, an influential Agency Manager of Prudential Assurance Company Singapore ("Prudential") orchestrated a mass exodus of over 200 agents to a competitor, Aviva Financial Advisors Pte Ltd ("Aviva"). Prudential, in turn, sued the Agency Manager for up to S$2.5 billion in damages, in a high-profile case which attracted significant media attention in Singapore.

In Prudential Assurance Co Singapore (Pte) Ltd v Tan Shou Yi Peter and another [2021] SGHC 109, the Singapore High Court (SGHC) rendered its decision on the dispute, providing important guidance on issues of, among other matters, breaches of contract and fiduciary duties. 

In this case note, Baker McKenzie Wong & Leow briefly examine the SGHC's decision and offer some key takeaways from the case. Read more.