Antonio De Rosas, Pru Life UK president and chief executive, said: “By combining our quality product offering with Robinsons Bank’s strong distribution platform, we are confident this alliance will benefit Robinson Bank’s customers by providing them with easy access to Pru Life UK’s solutions that suit their growing protection needs.”
Robinsons Bank has 134 branches across the Philippines, with plans to expand in future.
Demand for life insurance products has been rising in the Philippines, buoyed by continued economic growth, growing affluence on the back of expanding middle class and a low penetration rate, according to Robinsons Bank’s press statement.
The deal is subject to regulatory approval.
