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Manila Bulletin devider Business devider Banking & Finance devider Allianz PNB Life new business nearly doubles to ₱4.6 billion in first half

Allianz PNB Life new business nearly doubles to ₱4.6 billion in first half

Published Aug 26, 2026 08:22 pm

At A Glance

  • Allianz PNB Life Insurance Inc. (AZPNBL) saw a nearly twofold year-on-year increase in new business in the first half of 2026, propelled by bancassurance, potentially putting it at the top of the industry in that particular distribution channel.
Joe Gross
Joe Gross
Driven by its strong bancassurance business, Allianz PNB Life Insurance Inc. (AZPNBL) saw new business nearly double year-on-year in the first half of the year, potentially putting it at the top of that specific distribution channel.
AZPNBL generated ₱4.59 billion in consolidated new business annual premium equivalent (NBAPE)—a key metric for new business sales in the life insurance sector—at end-June. Citing the latest data from the Insurance Commission (IC), the company ranked third overall in the Philippine life insurance industry.
The insurer attributed this growth in part to its bancassurance partnership with Philippine National Bank (PNB), which enabled it to expand its reach through the bank’s branch network.
Speaking at an Aug. 26 press briefing, AZPNBL President and Chief Executive Officer Joe Gross said the firm estimates it leads the industry in bancassurance, noting that it is the fastest-growing distribution platform in the country.
AZPNBL currently deploys nearly 500 financial solutions specialists (FSS) across PNB branches nationwide.
“Our strong first-half performance and continued customer growth are proof that our purpose continues to resonate,” Gross said.
He added that the insurer will continue broadening its market reach with simpler, more affordable financial products, while enhancing customer experience and strengthening its distribution capabilities.
To support its product expansion, AZPNBL launched Allianz Secure Save—an insurance and savings plan designed to help customers accumulate funds for long-term goals alongside life insurance coverage. The product provides access to professionally managed investments, flexible five-pay and 10-pay premium options, and a guaranteed issue offer.
AZPNBL also highlighted its active sustainability programs aimed at building resilience in vulnerable communities. These include MoveNow, a initiative with Bahay Tuluyan that provides employability training, financial literacy, and parenting support for young single mothers; and Project Talaghay, a joint venture with the Philippine Disaster Resilience Foundation focused on climate resilience and disaster preparedness.
Formed in 2016 as a joint venture between Germany’s Allianz Group and PNB, AZPNBL operates 21 business centers across the Philippines, backed by an agency network of over 2,450 representatives.

Related Tags

insurance Allianz PNB Life Allianz PNB Life Insurance Inc. (AZPNBL)
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