Prudence Foundation build disaster-resilient homes, revives livelihood in Bantayan Island

Over 100 employee-volunteers of Pru Life UK and sister companies across Asia mobilized

22 MARCH 2014/ CEBU - To support communities’ rebuilding efforts in the aftermath of super typhoon Yolanda (international name: Haiyan), Prudence Foundation, the charitable arm of Prudential Corporation Asia (PCA) and Pru Life UK, has mobilized its Regional PruVolunteer Programme, with over 100 employee-volunteers from 12 different countries on the ground in Santa Fe, Bantayan Island, Cebu to help build 135 disaster-resilient homes.  

About 90% of the population of Barangay Maricaban in Sante Fe is in need of housing support. Aside from the construction of 135 core shelter houses that can withstand magnitude 8 earthquake and winds of up to 275 kilometers per hour, Prudence Foundation will also provide sustainable livelihood through a contribution of 183 motorized boats with fishnets and 140 pedicabs or cycle rickshaws.

PCA Chairman and Prudence Foundation Trustee Donald Kanak is one of the volunteer housebuilders for the project.  , “As a leading life insurer and asset maanger in Asia, Prudential is committed to the safey and sustainable development of the Asian communities. The Regional PruVolunteer Programme is an integral part of the Prudential culture of helping our communities prepare for, cope with and recover from natural disasters. We hope our rebuilding efforts can make a long-lasting contribution to the impacted communities.”  said Mr. Kanak.

Cebu Vice Governor Agnes Magpale said, “On behalf of the Province of Cebu, I would like to thank Prudence Foundation and Pru Life UK for extending the needed assistance to Cebuanos in Maricaban, Bantayan Island, Cebu, whose lives, shelters and means of livelihood were devastated by typhoon Yolanda. It is hearwarming to know that, in the most trying times of our life as Cebuanos, we find aid and solace in the kindness of friends from afar who let us feel that we are cared for, through the bounty of their generosity.”

Prudence Foundation is the first organization to execute a housebuilding project across the Philippines with Habitat as part of the rehabilitation and rebuilding efforts in the aftermath of typhoon Yolanda.

Santa Fe Mayor Jose Esgana said, “The Municipality of Santa Fe is very thankful to Prudence Foundation and Pru Life UK for choosing us as a beneficiary of their building good quality houses, motorized boats with fish nets and pedicabs. May God bless the hearts of everyone who is a part of this, for His rewards are a thousandfold. Magtinabangay Kita para sa mga Santafehanons (Let us help each other for the Santafehanons)!”

The Regional PruVolunteer Programme is part of the US$ 2 million commitment of Prudence Foundation to support relief and long-term recovery effort in areas affected by typhoon Yolanda. Part of the funds were also contributed by Pru Life UK’s sister companies and their employees across Asia.  The PruVolunteer team comprises life insurance and asset management employees from 12 markets – Philippines (Pru Life UK), Hong Kong, Singapore, Japan, Korea, Malaysia, Indonesia, Thailand, Taiwan, Vietnam, Cambodia and the United Kingdom (UK) - who will build the new houses together with the local community and international non-governmental organization (NGO) Habitat for Humanity (Habitat).

Prudence Foundation Executive Director Marc Fancy said, “Prudential and Eastspring Investments have a long-standing commitment to support Asian communities that we are part of. We understand that with the magnitude of devastation, affected areas in the Philippines still continue to experience challenges. Our affiliates across the region share the overarching goal of helping those affected by the tragic events of last November. We are delighted to be working with the local government to support the immediate needs in Bantayan Island, and continue to work on other programmes across affected areas.”

Prior to typhoon Yolanda, homes in Barangay Maricaban were mostly located in the danger zone, with residents also living in challenging economic situations. The typhoon not only destroyed their homes but also majority of their fishing boats, depriving the local community with a means of livelihood.

Prudence Foundation Trustee  and Pru Life UK President and CEO Antonio Manuel De Rosas said, “We are privileged to be part of the meaningful effort to rebuild the lives of our brother and sisters affected by typhoon Yolanda. Prudence Foundation, Pru Life UK and our Asian colleagues aim to contribute through supporting government and private sector efforts in nation building. We are committed to continue to help uplift communities in the Philippines for the  long-term.”

The Regional PruVolunteer Programme is an initiative by Prudence Foundation in partnership with local NGOs to help provide meaningful, sustainable and long-term assistance in times of disaster. Hundreds of employee-volunteers have joined forces to help thousands recover from natural disasters in Asia. PruVolunteers have helped build schools in Sichuan, China after an earthquake that claimed close to 70,000 lives in 2008, rebuild homes and facilities in Padang, Indonesia following a magnitude 7.9 earthquake in 2009, clear debris and support children in Ishinomaki, Japan after the Great East Japan Earthquake and tsunami in 2011, and repair homes for the elderly in Mae Ai, Thailand in the wake of flash floods in 2012.

Based in Hong Kong, the Prudence Foundation was established by regional headquarters PCA to consolidate its long-term commitment to serve the Asian communities.Disaster preparedness and relief is one of the Prudence Foundation’s three key areas of focus along with education and children. It has partnered with Save the Children and Plan International on a series of disaster preparedness and relief programmes in countries in Asia, including in the Philippines alongside the local business, Pru Life UK.

About The Prudence Foundation

The Prudence Foundation embodies the long-term and heartfelt commitment of Prudential's people in Asia to provide innovative, focused, and practical support to their local communities. Through meaningful contributions to sustainable initiatives focused on Education, Children and Disaster Preparedness, we aim to make a lasting contribution to Asian societies.

The Prudence Foundation was established in 2011. For more information: www.prudencefoundation.com


About Prudential Corporation Asia

Prudential Corporation Asia is a business unit of Prudential plc*, comprising its life insurance operations, and asset management business, Eastspring Investments. Prudential is a leading life insurer that spans 14 markets in Asia, covering Cambodia, China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand and Vietnam. A leading life insurer in terms of market coverage with more market leading positions than any other insurer in the region, Prudential has more than 450,000 agents and employees across the region serving over 12 million life insurance customers.  

Eastspring Investments is one of Asia’s largest asset managers with operations in 11 markets and £60 billion in assets under management (at 31 December 2013).

*Prudential plc is listed on the stock exchanges of London (PRU.L), Hong Kong (2378.HK), Singapore (K6S.SG) and New York (PUK.N). Prudential plc is not affiliated or related in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America. For more information: www.prudentialcorporation-asia.com

About Pru Life UK

Established in 1996, Pru Life UK is a subsidiary of British financial services giant Prudential plc. Pru Life UK is the pioneer and current market leader of unit-linked or investment-linked life insurance products, and is one of the first life insurance companies approved to market US dollar-denominated unit-linked policies in the country. Pru Life UK is a life insurance company and is not engaged in the business of selling pre-need plans.

Prudential plc is a United Kingdom-registered company. Its regional headquarters, Prudential Corporation Asia, is based in Hong Kong.

Pru Life UK and Prudential plc are not affiliated with Prudential Financial, Inc. (a US-registered company), Philippine Prudential Life Insurance Company, Prudentialife Plans, Inc. or Prudential Guarantee and Assurance, Inc. (all Philippine-registered companies).

For more information: www.prulifeuk.com.ph

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