Robinsons Bank and Pru Life UK have announced that they have received the necessary regulatory approvals for their strategic bancassurance partnership. Approvals have been received from Bangko Sentral ng Pilipinas and the Insurance Commission, both of which are required for the three-year partnership which will see Pru Life UK officially distributing its life insurance products exclusively through Robinsons Bank’s 135 branches across the country.
Both Robinsons Bank and Pru Life UK are optimistic about the alliance as expressed by their respective leaders when the partnership was formally announced in January this year. Robinsons Bank’s President and CEO Elfren Antonio S. Sarte stated that bancassurance was a major part of their strategic plans, while Pru Life UK President and CEO Antonio De Rosas added that the partnership would benefit Robinson Bank’s customers by providing them with easy access to Pru Life UK’s life insurance solutions to suit their growing protection needs.
The companies signed the partnership agreement via a press conference held in January this year. /PR