Pru Life, Robinsons Bank extend bancassurance tieup
MANILA, Philippines — Pru Life Insurance Corp. of UK has renewed its bancassurance partnership with Gokongwei-led Robinsons Bank, enabling the insurer to continue tapping the bank’s branch network to sell its products.
In a virtual ceremonial signing yesterday, the two companies finalized an agreement extending their distribution partnership for another three years effective Feb. 1.
“We are very pleased to jumpstart 2021 by renewing our bancassurance partnership with Robinsons Bank. For another three years, this alliance will benefit Robinsons Bank’s customers by providing them with easy access to Pru Life UK’s solutions that meet their growing protection needs,” Pru Life UK president and chief executive officer Antonio de Rosas said.
“We look forward to fostering a stronger relationship with Robinsons Bank as we continue to fulfil our purpose of helping Filipinos get the most out of life through our life insurance products and solutions,” he said.
Pru Life UK and Robinsons Bank first entered into an alliance in January 2018, allowing the insurer to officially distribute its life insurance products exclusively through the bank’s 155 branches nationwide.
Both De Rosas and Robinsons Bank president Elfren Antonio Sarte noted the success brought by the bancassurance agreement to the two parties, hence the decision to continue for another three years.
“For the first three years, the target we have set, I think we exceeded that even before the third year. So there was no doubt that we have completed the partnership,” Sarte said.
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