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Feb 2010 Britain's first insurer, Prudential, has disbursed 213 million EUR (308.9 million USD) to take control of the life insurance subsidiary of Singapore United Overseas Bank (UOB). Prudential has also reached a twelve-year agreement with UOB which will be in charge of distributing the English insurer's products via its branches in Indonesia, Thailand and Singapore. This initiative is likely to enable Prudential to better deal with competition from AIA, AIG's subsidiary, Great Eastern, subsidiary of the Singaporean bank OCBC. In 2008, Prudential achieved 44% of its profits in Asia.