APD | Partnership between Allianz and Phillippine national bank proven successful

By APD writer Melo M. Acuna

MANILA, Feb. 25 (APD) – International insurer Allianz marked its third year of partnership with the Philippine National Bank (PNB) at a private dinner celebration at Century park Hotel in Pasay City.

It will be recalled the two financial companies sealed a 15-year bancassurance in 2016 which led to the establishment of Allianz PNP Life Insurance, Inc.

Dr. Olaf Kliesow, President and CEO of Allianz PNP Life, said that company’s annualized premium income for 2018 stood at a significant increase.

“It has quadrupled compared to when we started in 2016,” he said. He attributed the success to the “incomparable and uncompromising support from the Lucio Tan (LT) Group” and the “thousands of PhilNaBankers who supported their bancassurance goals over the years.”

He credited the success of their three-year partnership to 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.”

Dr. Kliesow, the re-elected president of the Philippine Life Insurance Association, said both companies’ consistent efforts in following the plans they charted in growing the business in the Philippines.

Data from the Insurance Commission in 2017 revealed that Allianz PNB Life’s premium income grew 95.6% to P5.30 billion from P2.71 billion in 2016. This was more than double the average industry’s growth rate of only 11%. In the same year, Allianz became the Philippines’ fastest growing life insurance company.

He said Allianz PNB Life “is no ordinary life insurance company.”

One of the country’s most successful businessmen Dr. Lucio Tan, Chairman of the LT Group along with Ms. Carmen Tan, Director of the Philippine National Bank and other top company officials attended the event.

Among the properties owned by the LT Group include Philippine National Bank, Philippine Air Lines, Philp Morris/Fortune Tobacco Corporation, Eton Properties Philippines, Asia Brewery, Tanduay among others.

(Top image: Mrs. Carmen K. Tan, Director, PNB and Dr. Lucio C. Tan, Chairman, LT Group, Inc., receiving the award from Dr. Olaf Kliesow, President and CEO, Allianz PNB Life during a private dinner celebration. Dr. Lucio Tan is one of the most successful businessmen in the Philippines.)

(ASIA PACIFIC DAILY)