British life insurer Pru Life UK, the wholly-owned subsidiary of British financial services giant Prudential plc, joined the two-day cross-sector trade and investment mission to Davao City of the British Chamber of Commerce Philippines (BCCP) last March 30 to 31.
The landmark trade mission coincided with at least two major milestones – the increased interest in Davao City and the rest of Mindanao since the election of the Philippines’ incumbent president who hails from the region, and the aggressive push by the United Kingdom to further strengthen its economic ties with its trading partners such as the Philippines amid Brexit. The trade mission aims to explore the business potential and commercial opportunities in Davao City and in the rest of Mindanao.
Pru Life UK’s operation in Davao City is big and growing. To date, it has five branches in the city alone, providing a source of livelihood to 784 agents and managers.
“Pru Life UK is pleased to join and support the British trade mission to Davao City. We are very optimistic about the growth opportunities in the region. In support of the inclusive growth agenda of the government, we are continuously developing new products and channels to ensure appropriate financial protection and investment tools are within reach of more Filipinos,” said Pru Life UK President and CEO Antonio “Jumbing” De Rosas.
Pru Life UK’s growing portfolio of products includes variable life (investment-linked), traditional life, accident and health, group life, and term products. Last year, it introduced PRUlink elite protector 5, a game-changing, limited-pay unit-linked life insurance that that combines protection with a greater potential for wealth accumulation; and PRUmax invest, a revolutionary new life insurance package that integrates the best features of traditional and unit-linked products and comes in a 15-year renewable term plan.
BCCP organized the trade and mission to Davao City in partnership with the British Embassy Manila, Philippine Chamber of Commerce and Industry, Makati Business Club, and the Philippine British Business Council. At least 48 delegates from 30 British companies, including Pru Life UK, participated in the trade mission.