PSBank President Vicente R. Cuna Jr. and AXA President Rien Hermans seal the bancassurance partnership with a handshake after signing the agreement at the GT Tower Penthouse. Flanking them are AXA Chief Bancassurance Officer Marie Raymundo and PSBank EVP Jose Vicente L. Alde
PSBank, the thrift bank arm of Metrobank Group, recently signed a memorandum of agreement with AXA Philippines for a bancassurance partnership.
The exclusive alliance will provide PSBank customers with convenience and easier access to AXA’s wide range of insurance products through the Bank’s extensive branch network.
“We are very optimistic about our partnership with AXA Philippines because we share the same vision and customer-centric approach in offering affordable financial solutions to our clients,” said PSBank President Vicente Cuna Jr.
“We have been looking at this opportunity for quite some time,” said AXA Philippines President and CEO Rien Hermans. “The awareness for the need for insurance in the country is becoming more and more widespread. Being present in PSBank allows us to bring financial protection to a much larger group of the Filipino population.”
Starting June 16, PSBank clients looking for insurance solutions will be referred to AXA representatives in PSBank’s 123 branches in Metro Manila. This is also expected to be offered to its provincial branches within the year to cater to more clients.
With AXA’s line of personalized, easy-to-understand, and affordable insurance products, PSBank customers can now enjoy a more well-rounded suite of products and services – from deposits and loan products, to income protection, health insurance, and educational plans – to prepare for a more financially secure future.
“This partnership allows us to advocate financial wellness to our clients as we offer them suitable alternatives to save and grow their finances. We know that they work hard to earn their money and we also know that the financial security of their family is very important to them,” added Cuna Jr.
“What is critical in this partnership is that we find a way to fit our products and solutions with those of PSBank, so that it comes very naturally. PSBank clients can then expect the same proposition from AXA as they do with PSBank – solutions that are always simple and always delivering quality that matches their needs,” concluded Hermans.
PSBank and AXA Philippines are institutions under the Metrobank financial conglomerate. AXA Philippines is a joint venture between Metrobank and AXA Group, one of the world’s largest insurance and asset management companies with 157,000 employees serving 102 million customers in 57 countries.
PSBank has expanded its network coverage to over 200 branches and over 500 ATMs nationwide, and strives to consistently make banking simple, fast and convenient for its customers. AXA Philippines is one of the largest and fastest growing life insurance companies in the country, currently among the top three life insurance companies in the market (in terms of total premium income), serving over 500,000 clients.