PSBank, AXA Philippines ink bancassurance deal

Posted at 06/12/14 11:31 AM

MANILA, Philippines – Philippine Savings Bank (PSBank) and AXA Philippines have entered a bancassurance partnership to give bank customers easier access to AXA's insurance products.

Clients of PSBank looking for insurance solutions will be assisted by AXA representatives in 123 PSBank branches in Metro Manila starting June 16.

AXA’s products will be offered to PSBank’s provincial branches within the year.

PSBank clients will have access to AXA’s deposits and loan products, income protection, health insurance, and educational plans.

“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,” said PSBank president Vicente Cuna Jr.

PSBank, the thrift bank arm of Metrobank Group, and AXA Philippines are institutions under the Metrobank financial conglomerate.

“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,” said AXA Philippines president and chief executive Rien Hermans.

PSBank has expanded its network coverage to over 200 branches and over 500 ATMs nationwide while AXA Philippines serves over 500,000 clients.