"I think you will see more structural reform and efficiency in production … There's a very economic look, there's a very balanced look at consumers, they haven't tapped the consumerism that's in the economy by any means and I think there's a lot of upside," opined Wells, highlighting that the insurance group he heads has enjoyed "great growth" in both mainland China and Hong Kong in recent years.
Asked to describe the most challenging operating climate for Prudential, the CEO sounded an optimistic note, asserting that given the group's diversification, they were well placed to deal with any one market.
"The worst environment for us is when people think they don't need to de-risk their portfolios, they simply need to participate in markets and all stocks go up – that's the hardest climate to argue our solutions have a fit," he stated.
Expanding on risks facing the group, Wells highlighted global political risk as one of the main factors to be monitored and drew upon the strong connection between volatility and politics.
"It's a natural fact that consumers can't quote GDP (gross domestic product) to you where they live but they can certainly tell you if they feel good about how the political environment is playing out and that creates tension," he said, explaining that such tension "translates into longer and slower decisions, more cautious allocation of money, delay of purchase, all those sorts of things."