Robinsons Bank, Pru Life UK establish Bancassurance Partnership

GOKONGWEI- led Robinsons Bank and British life insurer Pru Life UK have announced the establishment of a strategic Bancassur- ance Partnership in a distribution agreement signing held recently at Crowne Plaza Galleria Manila.

Through this partnership, Rob- insons Bank will further serve its network of customers by providing them life insurance products that complement access to com-

Robinsons Bank and Pru Life UK sign the distribution agreement to formally announce their bancassurance partnership on January 9 at the Crowne Plaza Galleria Manila. During the signing, from left: Robinsons Bank Branch Sales Division Deputy Head Edward Eli Tan, Robinsons Bank Retail Banking Segment Head Salvador Paps, Robinsons Bank President and CEO Elfren Antonio Sarte, Robinsons Bank Chairman Lance Gokongwei, Pru Life UK President and CEO Antonio De Rosas, Pru Life UK Chief Financial Officer Lee Longa, Pru Life UK Allan Tumbaga, and Pru Life UK Business Development Head Ramon Garcia. subject to regulatory approval.

The demand for life insurance products has been rising in the Philippines, buoyed by continued economic growth, growing - panding middle class, and a low insurance penetration rate.

“Bancassurance has always been to 2020’ strategic plan, and it is partner who would help us deliver the best product choices to our customers. After a lengthy search, we are happy to announce our partnership with Pru Life UK, a well-regarded insurance company with considerable experience and wide global presence,” Robinsons Bank President and CEO Elfren Antonio Sarte said.