Allianz PNB Life, Inc., the Philippine unit of Germany’s Allianz Group, hit its business targets across all metrics last year and is confident of meeting this year’s goals, driven by the launch of new investment funds and a simplified product lineup.

Allianz PNB Life President and Chief Executive Officer (CEO) Joe Gross told a press briefing on Thursday, Jan. 15, that the life insurer posted significant growth last year, noting it was successful in hitting its overall customer targets, volume growth, and profitability.

Gross said Allianz PNB Life secured more customers, adding that its partnerships with Philippine National Bank (PNB) and British banking giant HSBC were “rock solid,” producing growth rates of 10 to 30 percent.

As such, Gross is looking at the Filipino insurance market with strong bullishness despite a relatively low penetration rate of less than two percent. He explained that the low uptake is common across the Southeast Asian region, driven largely by low financial literacy.

“Financial literacy is not really there, and people perceive insurance as you pay money and you never get anything back,” the CEO said.

For Gross, the ideal approach to boosting insurance penetration is making products simple and easy to understand.

This means simplifying insurance offerings, improving digital access, and providing clear advice so clients know exactly what policies they are buying, rather than leaving them confused about their purchase.

Meanwhile, Lukas Cacayan, officer-in-charge and chief financial officer (CFO) at Allianz PNB Life, stressed that the insurer’s ultimate goal is to expand by double digits across all metrics, adding that the firm constantly aims to outperform market growth.

Cacayan said the target of double-digit growth in 2026 will be driven by distribution, partnerships, and product simplification.

Investments funds

Among the insurance company’s major moves in 2026 is the planned rollout of a new investment fund under its simplified product portfolio. This process will proceed with guidance from top fund managers Pacific Investment Management Company LLC (PIMCO) and Allianz Global Investors (AGI).

These expert entities provide insights on global markets, including opportunities such as convertible bonds that combine bond safety with equity potential.

Allianz aims to integrate these opportunities into its strategic asset allocation while managing risks carefully.

It can be recalled that Allianz PNB Life saw gross premium income climb 14 percent to ₱19 billion in the first half of 2025, fueled by strong single-premium sales and higher renewal earnings.

Its net income also rose 14 percent to ₱18.9 billion from ₱16.6 billion last year, supported by the same factors that boosted its gross premium income.