PRU Life UK said it is eyeing to open its own asset and trust company this year, to cater to the different financial needs of its clients.
Pru Life UK Senior Vice President and Chief Marketing Officer Allan M. Tumbaga told reporters on Thursday that the British life insurer is looking to build its own asset and trust company in the Philippines this year. It is only awaiting the go signal of the Bangko Sentral ng Pilipinas (BSP).
“We have the approval of the SEC [Securities and Exchange Commission]. Our target is this year,” Tumbaga said.
He said the company would be named Pru Life UK Asset Management and Trust Co., headed by Pru Life UK Vice President and Chief Investment Officer Antonio L. Garces II.
Tumbaga said the trust company would be offering Unit Investment Trust Funds. Pru Life UK is affiliated with Eastspring Investments, the fund manager of Prudential Plc. “The idea there is to be able to address the needs of our customers. We want to make sure we are there for our customers and their financing needs,” he said.
The company said it will be rebranding as it launched its “We DO” campaign, reinforcing its commitment to its clients of “Listening. Understanding. Delivering.”
The campaign will be rolled out in 10 markets in Asia, including the Philippines.
“We DO means we are a part of our customers’ world. Our brand commitment—Listening. Understanding. Delivering—reinforces our focus on human connections, simplicity and innovation for our customers. In this highly digital, interconnected world, we will continue to deliver to them the same excellence in care and service we are known for and enhance their experience and long-term relationship with us,” he said.
For 2018, Pru Life UK has the biggest life insurance agency force of more than 27,000 licensed agents from more than 130 branches nationwide. In 2017, the company reported a sales force of about 20,000 only.
The “We DO” campaign will be launched on Sunday across various media platforms, according to Pru Life UK.