Pru Life UK and PBCOM Establish Distribution Partnership
MAKATI, MANILA– British life insurer Pru Life UK and the Philippine Bank of Communications (PBCOM) announced on October 10, 2014 an agreement to begin a five-year alliance to distribute Pru Life UK’s comprehensive array of life, health and protection products to PBCOM’s network of customers in the Philippines through the PBCOM Insurance Services Agency, Inc. (PISAI), a general agency that will provide consumers with insurance solutions that will allow them to protect their finances.
Pru Life UK General Manager and Chief Distribution Officer Maximo “Max” S. Joaquin Jr., Pru Life UK President and CEO Antonio “Jumbing” G. de Rosas, PBCOM President and CEO Nina D. Aguas, and PISAI Director Patrick D. Cheng sign the General Agency Agreement to begin a five-year alliance to distribute Pru Life UK’s comprehensive set of life, health and protection products to PBCOM’s network of customers.
Pru Life UK President and CEO Antonio Manuel De Rosas said, “PISAI has opened another opportunity for us to further expand our reach in providing financial protection and wealth management options for Filipinos. We are pleased to develop a solid alliance with PBCOM as we work towards the unified goal of continuing to offer best in class products to our clientele. We look forward to broadening both Pru Life UK and PBCOM’s reach in propagating financial wellness and stability in the Philippines.”
Through the partnership, Pru Life UK further widens its distribution network for its life insurance product portfolio, and PISAI builds a strong portfolio of insurance products to complement PBCOM’s suite of financial solutions, which range from Deposits and Investment Services, to Cash Management Solutions, as well as Commercial and Personal Loans.
“As we grow and continue to expand our distribution network, we aim to introduce new products and services to cater to clients’ evolving financial needs. With PISAI offering Pru Life’s portfolio of insurance products, we are able to provide a more comprehensive set of financial solutions and reach clients in a more holistic manner,” said PBCOM President and CEO Nina D. Aguas
“We are happy to be partnering with Pru Life— they have innovative insurance products, and I know this partnership will enhance our proposition to our clients. With Pru Life’s support and product set, we look forward to meeting the wealth management and risk protection needs of our clients,” said PISAI Director Patrick D. Cheng.
About Pru Life UK
Established in 1996, Pru Life UK is a subsidiary of British financial services giant Prudential plc. Pru Life UK is the pioneer and current market leader of unit-linked or investment-linked life insurance products, and is one of the first life insurance companies approved to market US dollar-denominated unit-linked policies in the country. Pru Life UK is a life insurance company and is not engaged in the business of selling pre-need plans.
Prudential plc is a United Kingdom-registered company. Its regional headquarters, Prudential Corporation Asia, is based in Hong Kong.
Pru Life UK and Prudential plc are not affiliated with Prudential Financial, Inc. (a US-registered company), Philippine Prudential Life Insurance Company, Prudentialife Plans, Inc. or Prudential Guarantee and Assurance, Inc. (all Philippine-registered companies). For more information: www.prulifeuk.com.ph
PBCOM (PSE: PBC) is a Filipino commercial bank that offers a broad suite of financial solutions, ranging from Deposits and Investment Services, to Cash Management Solutions, Commercial and Personal Loans, and Life Insurance. Founded in 1939, PBCOM has its roots in Binondo, Manila and now has more than 70 business centers located across Luzon, Visayas and Mindanao. On its 75th year, the Bank continues to expand its services to cater to new markets, striving always to provide customer satisfaction through innovative financial solutions and distinctive customer service. For more information on PBCOM, visit www.pbcom.com.ph.
PBCOM Insurance Services Agency Inc. (PISAI) was established in 2014 and is a wholly owned subsidiary of PBCOM that engages in the business of soliciting and promoting insurance products. PISAI offers a full range of insurance agency services including Life and Investment Linked products to meet customers wealth management and risk protection needs.