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 easier access and convenience 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 & 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.
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.