MANILA, Philippines — The joint venture between Lucio Tan’s Philippine National Bank (PNB) and Allianz is looking to grow its managed assets to P135 billion this year on the back of a more targeted approach among its clients.
In a briefing yesterday, Allianz PNB Life head of investments Henry Yang said the company’s assets under management (AUM) would likely grow by 12.5 percent to P135 billion this year from P120 billion in 2024.
Yang said Allianz PNB is banking on higher sales productivity through its targeted approach among its customers.
“We have campaigns where our marketing team will help identify which clients really fit this kind of profile. It takes a lot of time to understand what your financial needs are,” Yang said.
“It’s more about really offering specific solutions to specific Filipino problems,” he said.
Allianz PNB is among the major life insurers in the Philippines, which began its operations as a subsidiary of Allianz Group in 2016. It is a provider of variable life products, complemented by a full line of life protection offerings for individuals and institutions.
Further, Allianz PNB is also gearing toward diversification through its global funds.
“We don’t want to overburden the exposure by having your savings and investments also in the local market because you’re overexposed practically to what happens to the Philippine economy,” Yang said.
The Allianz official maintained that the company would launch more global funds that are dynamic to adjust where there are opportunities and reduce exposures to where there are higher risks.
Allianz is also moving to make available its global funds across its three channels namely the PNB, British banking giant HSBC and its own agency.
As of end-2024, Allianz PNB Life ranked sixth with P132.58 billion in terms of total invested assets and 14th in net worth at P3.25 billion.
It is the 11th largest life insurance provider in the country in terms of net income with P981.58 million as of last year.
