MANILA, Philippines, 27 February 2015 – FWD Life Insurance Corporation (FWD Life), the life insurance arm of Hong Kong-based Century Pacific Group has partnered with Security Bank Corporation (SBC), 8th largest private domestic universal bank in the country, to bring innovative insurance services to the Philippine market. A colorful kick-off party marked the beginning of the partnership and official roll-out of FWD Life products in all Security Bank branches in Metro Manila.
Security Bank makes these insurance products easily accessible with dedicated FWD Life Financial Solutions Consultants (FSCs) present in each branch to provide professional advice about customers’ individual insurance needs.
Customers looking for practical insurance products will initially have two FWD life insurance savings plans that feature attractive optional benefits. A number of additional insurance solutions and products are also in the pipeline. Security Bank and FWD Life aim to complete the nationwide rollout to offer more insurance services by the end of 2015.
Security Bank President and Chief Executive Officer Alberto S. Villarosa underscores how bancassurance aligns with the bank’s thrust towards BetterBanking. “We are happy that through this partnership, we are able to further beef up our financial services portfolio. Offering insurance services to our bank’s customers is an integral and strategic aspiration for the bank. This partnership with FWD Life complements our goal to provide financial planning solutions and helps us offer the best insurance propositions to our customers.”
Villarosa adds, “Our extensive nationwide branch network makes financial services more accessible to more customers. Given the dynamic economic landscape that our country has now, the insurance needs of Filipinos are also evolving and these needs are what we aim to fulfill.”
FWD Group Chief Executive Officer Huynh Thanh Phong enthuses, “Security Bank shares FWD’s vision to change the way people feel about insurance. Together, we will leverage technology to provide an engaging experience for customers when purchasing insurance.”
In October 2014, Security Bank and FWD Life announced the exclusive, long-term partnership to cross-sell the regional insurer’s products in the bank’s extensive local network. The Bangko Sentral ng Pilipinas granted approval for Security Bank to engage in bancassurance in January 2015. The partnership was formally launched on February 11 at the Blue Leaf Events Pavilion in McKinley Hill, Taguig City.
Shown in photo are (from left): Peter Grimes, FWD Philippines President and Chief Executive Officer; Leslie Cham, Security Bank Corp. SVP-Branch Banking Group Head; Chona Ventura, FWD Philippines Chief Financial Officer; Ma. Cristina Tingson, Security Bank Corp. EVP-Retail Banking Segment Head, Security Bank; Huynh Thanh Phong, FWD Group Chief Executive Officer; Alberto Villarosa, Security Bank Corp. President & Chief Executive Officer; Ma. Concepcion Cruz, Security Bank Corp. SVP-Asset Management Group Head; Rafael Algarra,Jr., Security Bank Corp EVP-Financial Markets Segment Head; Cecile Cajulis, FWD Philippines Regional Sales Director; and Delbert Ang-It, Security Bank Corp. VP-Bancassurance Head.