By the staff
After a solid 2025, Allianz PNB Life is positioning itself for accelerated growth in the Philippines, betting that millions of underinsured Filipinos and strong bank partnerships will keep its momentum going.
At a media briefing, president and CEO Joe Gross said they met all their internal targets last year, although they have yet to release full-year figures pending completion of audited results.
“Last year was a good year for us. We haven’t published the official numbers yet. But we’ve achieved very, very good growth. We achieved what we wanted to achieve. We secured more Filipino families also,” Gross said.
Chief Financial Officer Lukas Cacayan said the company continued to outperform the broader insurance market.
“Our mission is always double digit growth rates in all aspects of our balance sheet,” Cacayan said.
The industry is growing fast too. Insurance premium income climbed 13.3% to P372.08 billion as of end-September, led by life insurance. Yet coverage remains low, with insurance penetration at just 1.85% of gross domestic product.
Allianz PNB Life’s growth has been driven mainly by bancassurance, especially partnerships with Philippine National Bank and HSBC Philippines, which Gross said delivered “high numbers of double digit” growth.
The insurer is targeting another double-digit growth in 2026, backed by bank tie-ups, simpler products and rebound in agency performance.
