Allianz celebrates third year of successful partnership with PNB
GLOBAL insurer Allianz has marked the third year of its partnership with the Philippine National Bank (PNB) in a private dinner celebration at the Century Park Hotel in Pasay City recently.
The two leading financial companies entered into a 15-year bancassurance partnership in 2016, which lead to the establishment of Allianz PNB Life Insurance Inc.
Allianz PNB Life presi- dent and chief executive officer (CEO) Olaf Kliesow, in his speech, said the company’s annualized premium income last year stood at an historic high.
“It has quadrupled compared to when we started in 2016,” he said.
Kliesow attributed this success to the “incomparable and uncompromising support from the LT Group… and the “thousands of Philnabankers who supported our Bancassurance goals over the years.”
“The basic assumption of our partnership has worked out well — is the local reach of the bank, its strong reputation, and its wide network coupled with the global know how of Allianz on products and digital assets that was the backbone of our success,” he pointed out.
Kliesow, who has been recently re-elected president of the Philippine Life Insurance Association (PLIA), further lauded both company’s consistent efforts in following the plans they have charted in growing the business in the Philippines.
“I have seen many business plans and joint ventures kicking off but I have seen none that managed to stick or even exceed the plan to the extent our collaboration has managed to do,” he said.
In 2017, according to the Insurance Commission, Allianz PNB Life’s premium income grew 95.6 percent to P5.30 billion from P2.71 billion in 2016.
This was more than double the average industry growth rate of only 11 percent. Likewise, in the same year, Allianz became the Philippines’ fastest growing life insurance company, it added.
Growth prospects remain strong and outlook for the company’s core market is positive as Allianz launches a new campaign this first quarter.
“We opened 2019 with a deliberate campaign to make every PNB client and depositor ask about insurance. We look forward to reinforcing our relationship with PNB this 2019 with solid initiatives following what we have started for institutional banking and global Filipino banking sectors. We have made our cross-selling reporting activities, fun and digital through Dare to Refer,” he said.
He also cited that Allianz PNB Life “is no ordinary life insurance company.”
“It is world-class, it is big in its messages, it has a wide scope of global resources that can be tapped, but it retains its local flavour of being hospitable, one that really cares, because it knows the Filipino by heart. The journey continues and we have just started. The best is yet to come. Indeed, our first three years is worthy of celebrating the partnership,” he concluded.
Present during the celebration were Allianz Asia Regional CEO George Sartorel, Allianz Asia Regional Deputy CEO Solmaz Altin, Allianz PNB Life and LT Group Inc. Chairman Dr. Lucio Tan, PNB Director Carmen Tan, PNB chairperson Flor Tarriela, PNB president Wick Veloso, and president and CEO of Allianz PNB Life Alexander Grenz./pr
(FROM LEFT) PNB Director Carmen Tan and LT Group Inc. Chairman Lucio Tan receiving the award from Olaf Kliesow, president and CEO of Allianz PNB Life, in a dinner celebration at the Century Park Hotel in Pasay City recently.