Allianz PNB Life and HSBC Wealth have forged an exclusive partnership in the Philippines, which covers the distribution of life insurance products to HSBC customers in the country.
According to a statement yesterday, Allianz PNB Life and HSBC Wealth, locally incorporated as HSBC Investment and Insurance Brokerage, Philippines Inc. (HIIB) have enhanced their distribution agreement to become exclusive for 14 years. The exclusivity took effect last September 26, 2023.
Allianz PNB Life said that the partnership opens a wealth of possibilities, helping to meet the evolving needs of clients in the Philippines by offering new and enhanced products, new digital tools and additional training and learning support to our staff.
“We are delighted to expand our partnership with HSBC, and look forward to exponential growth in reaching more customers. Through our dedicated team and digital tools, we will be able to offer more compelling protection and health product propositions and innovative customer experiences for affluent clients,” Joe Gross, chief executive officer of Allianz PNB Life, said.
“This strategic partnership solidifies our position as a leading business partner and further supports HSBC Group’s ambition to be the leading wealth manager in Asia,” he added.
Customers will benefit from personal and holistic wealth management services available through relationship managers in Wealth Hubs and digital channels.
The collaboration also further equips Allianz PNB Life and HSBC as it sets sights on market leadership in life insurance for mass affluent and high net worth customers.
“We are happy to further strengthen our partnership with Allianz that will provide our customers with a wide range of products and services to meet their everyday needs,” Peter Faulhaber, vice chairman of HSBC Wealth said.
“We look forward to the synergies in product innovation, digital capabilities and multi-channel access that will ultimately benefit our customers,” he added. Angela Celis
