|
Metropolitan Bank
and Trust Company -
New York
10 East 53rd Street,
New York, NY 10022
Telephone:
(212) 832-0855
(212) 832-0951
Facsimile:
(212) 832-0993
(212) 223-0916
Toll Free:
(800) 863-8762
(Outside NY, NJ & CT)
|
|
|
|
Joining forces of Financial Powerhouses
|
|
While most people are getting more cautious in investing their money in everything that involves insurance policies, one company is emerging to allay those fears. Backed by an internationally renowned group of companies and the Philippines’ largest bank, the public can put their trust again to the industry.
Philippine AXA Life is a relatively young company in the country. In spite of this, according to the Philippine Insurance Commission, it has ranked fourth among the top life insurance companies. It posted the biggest growth of 52.53 percent in total premium income among the top 5 players in 2005.
Philippine AXA Life is a joint venture between Global AXA Group, which is based in Paris, France, and Metrobank in the Philippines. Global AXA Group is ranked 15th in the Fortune 500's largest corporations in terms of revenues.
It was announced recently that the Global AXA Group acquired a major European insurance company, which will therefore improve our ranking further," said Andrew Alcid, president and CEO of Philippine AXA Life.
In the Philippines, the company currently offers life insurance products however, there are plans to expand the products and services going forward.
The strongest product so far of the company is the Investment Linked Insurance Product (Honey Pot and Honey Series), whose fund value is tied to the performance of the underlying investment.
Philippine AXA Life has a 10 percent market share with close to a hundred thousand customers at present.
Although it is identified with the A/B market, the company is looking at serving the investment and protection needs of other market segments in the country.
"The key is really how we define the customer base so we are able to satisfy specific requirements of certain market segments,” Alcid said.
With this move, Philippine AXA Life is currently developing new products that will be offered to other customer segments.
The company distributes mostly through its Bancassurance channel given the vast branch network of Metrobank.
According to Alcid, Philippine AXA Life is one of the companies that pioneered Bancassurance in the Philippines. "We are very proud to be the market leader in Bancassurance."
Philippine AXA Life has over 1, 100 Financial Executives and Agents ready to serve its customers' requirements.
Both Philippine AXA Life and Metrobank posses a lot of synergies. The competitive advantages of Philippine AXA Life are its Best of Breed products, international best practices from the Global AXA Group and the distribution powerhouse of Metrobank.
|
|
|
|
