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Manila, 19 September
2002 - Security Bank Corporation (PSE:SECB) and The Philippine American
Life and General Insurance Company (Philamlife) have signed a Memorandum
of Agreement forging a strategic distribution partnership. This will give
birth to Security Philam Financial Solutions Inc., a joint venture which
shall serve as the marketing arm of the said alliance between the two
financial institutions.
The synergistic partnership
between Security Bank and Philamlife brings to the fore a collective century
of experience in developing and selling financial products and services
in the Philippines. It capitalizes on Security Bank’s stability,
extensive on-line branch network, dedication to intelligent use of technology
and commitment to excellence, together with Philamlife’s diverse
range of products and skills in life insurance, asset management, pensions,
health insurance, and general insurance, and proven track record in life
insurance product innovation and sales management.
Philamlife and Security
Bank have a business relationship that started 33 years ago when the Philamlife
Head Office opened an account with Security Bank in Ermita, Manila. More
recently, Philamlife and other members of the Philam Group, namely Philam
Care, Philam Plans, and Philam Insurance, started using Security Bank’s
DigiBanker, the first fully Internet-based corporate cash management system
in the Philippines, to streamline their financial operations.
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