Prudence Foundation holds fourth leg of building disaster-resilient homes in Bantayan Island

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18 JUNE 2016/CEBU – In keeping its commitment to continue supporting the rebuilding efforts in the super typhoon Yolanda-ravaged communities, Prudence Foundation – the charitable arm of Pru Life UK’s regional head office Prudential Corporation Asia (PCA) – held the fourth leg of its Regional PRUVolunteer Programme from June 18 to 25 to help build more disaster-resilient homes in Bantayan Island, Cebu.

83 employee-volunteers of Pru Life UK and sister companies from 13 countries in Asia rendered a week-long volunteer work to help complete the remaining 62 houses committed by Prudence Foundation.

"Super typhoon Yolanda took away countless homes, jobs, and lives, and even after more than two years, it is evident that much help is still needed. This is why we are humbled and grateful to have this opportunity once again to help in rebuilding and making lives better for the residents here in Bantayan Island," said Prudence Foundation Executive Director Marc Fancy."Prudence Foundation has a long-term and heartfelt commitment to support Asian communities, and nothing is more fulfilling for us than to help and see people stand firm again after an adversity."

"We are thankful to the local government unit, our partner NGO Habitat, and all volunteers across the region for lending their time and strength in contribution to this initiative. Indeed, we do well by doing good together," he continued.

Prudence Foundation Trustee and Pru Life UK President and CEO Antonio Manuel De Rosas stressed the vital role of the private sector in contributing to nation building. “At the core of our business is our aspiration to make lives better, to help Filipinos get the protection they need. The Regional PRUVolunteer Programme allows us to immerse in the community and truly be involved in the cause that we are advancing. For this, we are grateful, and we will only continue to be committed to making lives better for Filipinos, especially our brothers and sisters whose livelihoods were devastated by disasters such as Yolanda.”

About 90% of the population of the island was impacted by the super typhoon and  whilst much work has been done there is still a need for housing support. In 2013, the Foundation committed USD 2 million to support relief and long-term recovery effort in the affected areas. Through the Regional PRUVolunteer Program, the team –  which comprises life insurance and asset management employees from 12 markets including the Philippines (Pru Life UK), Hong Kong, Singapore, Japan, Korea, Malaysia, Indonesia, Thailand, Taiwan, Vietnam, and Cambodia – has completed three legs of building new houses together with the local community and international non-governmental organization (NGO) Habitat for Humanity.

In September 2015, 64 of the 133 completed disaster-resilient homes – which can withstand magnitude 8 earthquakes and winds of up to 275 kilometers per hour – were turned over to the home partners. Prudence Foundation also provided sustainable livelihood through a contribution of 183 motorized boats with fishing nets and 140 pedicabs or cycle rickshaws.

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, Prudence Foundation was established by regional headquarters PCA to consolidate its long-term commitment to serve 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 Asia, including in the Philippines alongside the local business, Pru Life UK.

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About the Prudence Foundation

Prudence Foundation is the community investment arm of Prudential in Asia. The Foundation brings Prudential’s regional community activities to a new level of strategic alignment and focus, to maximise the impact of its efforts across Asia.

Its mission is to make a lasting contribution to Asian societies through sustainable initiatives focused on the three key pillars: Children, Education and Disaster Preparedness & Recovery. Under each pillar, the Foundation has regional flagship programmes as well as market specific programmes, working closely in partnership with local and international NGOs. The 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.

For more information: www.prudencefoundation.com

About Prudential Corporation Asia

Prudential Corporation Asia is a business unit of Prudential plc (United Kingdom)*, comprising its life insurance operations in Asia, and its asset management business, Eastspring Investments. It is headquartered in Hong Kong.

Prudential is a leading life insurer that spans 13 markets in Asia, covering Cambodia, China, Hong Kong, India, Indonesia, Korea, Laos, Malaysia, the Philippines, Singapore, Taiwan, Thailand and Vietnam. Prudential has a robust multi-channel distribution platform providing a comprehensive range of savings, investment and protection products to meet the diverse needs of Asian families.

Eastspring Investments manages investments across Asia on behalf of a wide range of retail and institutional investors. It is one of the region’s largest asset managers with a presence in 10 major Asian markets plus distribution offices in the US and Europe. It has £89.1billion (about US$131.4b) in assets under management (as at 31 December 2015), managing funds across a range of asset classes including equities and fixed income.

*Prudential plc is incorporated in England and Wales, and its affiliated companies constitute one of the world's leading financial services groups. It provides insurance and financial services through its subsidiaries and affiliates throughout the world. It has been in existence for over 165 years and has £509 billion in assets under management (as at 31 December 2015). Prudential plc is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America.

Prudential plc is listed on the stock exchanges of London (PRU.L), Hong Kong (2378.HK), Singapore (K6S.SG) and New York (PUK.N).

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.

Headquartered in the United Kingdom, Prudential plc has an extensive network of life insurance and mutual funds operations around the world covering Europe, the United States (US) and 14 markets in Asia. Its regional office, Prudential Corporation Asia, is based in Hong Kong. Prudential plc has around 24 million insurance customers worldwide and manages £509 billion of assets as of 31 December 2015.

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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