Philippine National Bank

Philippine National Bank (PNB) is one of the country’s largest private universal banks that provides a full range of banking and other financial services that include corporate banking, consumer banking, investment banking, asset management, insurance services, credit cards, remittances and foreign exchange. PNB was originally established as a government bank in 1916 but has been privatized since 2007. Allied Banking Corporation, another bank owned by Dr. Lucio C. Tan, was merged with PNB in February 2013.

Our Partnership

Allianz PNB Life Insurance, Inc. is a joint venture between global insurance leader Allianz SE, and local banking giant, the Philippine National Bank (PNB). In 2015, Allianz SE acquired 51% of PNB Life, the life insurance arm of PNB. The JV included a 15-year exclusive bancassurance agreement where products of Allianz PNB Life are to be exclusively sold in the bank’s over 700 branch network nationwide.

With a diverse product portfolio, Allianz PNB Life offers insurance and investment solutions that address the different financial needs of young and growing, and middle established families; and high net worth individuals, as well as millennials. These products are made available to PNB customers by Financial Advisors stationed in PNB branches. Its bancassurance partnership with PNB remains to be the major source of business.

Since it launched its agency sales channel, the company has already on-boarded more than 1,000 agents, widening the Company’s footprint to reach more Filipino families nationwide.

On the back of Filipinos’ rising incomes, the Company successfully introduced new propositions. It launched AZpire, a regular pay unit-linked life insurance plan which focuses on faster fund accumulation for investment needs. The product series is aimed at millennials, most of which are in the early stages of building their professional careers and starting their own families.

Entering the health space, two new international health products were introduced in the market: Allianz Well! and Allianz Compass. These health offerings are meant to redefine the insurer’s role from being just an insurance payer to being an engaged customer provider with value-added wellness and lifestyle services and benefits.

The Company has embarked on strengthening its digital capabilities meant to provide a better customer and distributor experience through e-applications, e-policies, e-notices, and e-learning.

Outside the business, Allianz PNB Life earned a Silver Award for ‘Best CSR Sport Initiative’ at the fourth edition of Asia’s leading sports conference and awards platform, SPIA Asia – Asia’s Sports Industry Awards & Conference. ‘Allianz National Youth Futsal Invitational: #footballgoals’ was the winning entry focused on bringing the love for football to the Philippines through the Allianz National Youth Futsal Invitational Tournament (ANYFI).

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