AXA and Metrobank: Where the pioneering bancassurance partnership is headed?

MANILA, Philippines — Long before the country institutionalized bancassurance, AXA, a worldwide leader in insurance and investment, and Metropolitan Bank & Trust Co. (MBTC), popularly known as Metrobank, have been steps ahead in their partnership that dates back to 2004.   

Being where the customers are

This joint venture provided a one-stop shop for short- to long-term financial growth and protection needs—including health, retirement, and investment that have life insurance. This also opened AXA Advisory Corners, ensuring Financial Partners are present in select Metrobank branches to serve customers and bank clients planning to secure their financial future. 

With a history spanning over 60 years, Metrobank has the reputation of being the premier universal bank and among the foremost financial institutions in the Philippines. Its partnership with AXA Philippines opened the gates to more opportunities for the country as an insurance market.

AXA is set to capture the country’s large uninsured and underinsured population and empower them with its financial wellness products. Metrobank’s over 940 domestic branches indeed provide the accessibility needed to make this happen.  

Stronger ties with Metrobank 

Celebrating its 25th anniversary this year, AXA Philippines’ dedication to the local market remains unwavering. Hassan El-Shabrawish, CEO of AXA International Markets, recently met with JV partners from Metrobank to reaffirm their shared goal of delivering inclusive financial products – this means solutions that are more accessible and tailor-fit to every Filipino needs.

"We are positive that the synergy and innovations resulting from our collaboration with MBTC will continue to help shaping the insurance landscape in the Philippines. We are looking forward to achieving more milestones together as we reach more Filipinos and become their trusted financial wellness partners,” El-Shabrawishi said. 

He further outlined AXA's growth strategy, highlighting the commitment to developing faster, more relevant, and impactful solutions for the Philippine market. This includes leveraging local resources, embracing technology for efficiency and affordability, and pushing for comprehensive insurance that reaches the masses. 

“A lot has changed in the bancassurance landscape since we built this partnership with AXA. While we’re proud of how we have continuously innovated to cater to the diverse and evolving needs of the market, we want to remain aggressive in making sure we expand in all the right channels. We are confident that, alongside AXA, we can truly aim for sustainable growth,” Fabian Dee, President, Metrobank shared.

Currently, AXA Philippines is offering a range of Life and Savings, Medical and Critical Illness plans as well as non-life protection products with the bank such as Travel, Home and Car Insurance. The two companies are also leveraging online platforms and services to reach wider audiences through their digital bancassurance strategy.  

To know more about how AXA is providing innovative and inclusive solutions for Filipinos, visit https://www.axa.com.ph/.

Editors Note: This press release for AXA is not covered by Philstar.com's editorial guidelines.