Best's Insurance News & Analysis subscription required - June 07, 2016 10:40 AM Allianz SE has completed its 51% stake acquisition of PNB Life Insurance Inc., the life insurance subsidiary of Philippine National Bank, and has appointed Olaf Kliesow as the chief executive . . . -- This content requires a subscription -- Login Register your purchase
Allianz has completed a 51% acquisition of PNB Life Insurance , marking Allianz PNB Life Insurance 's entry into the insurance market and enhancing its position throughout Asia . The 15-year bancassurance agreement between the companies presents Allianz with access to over 4m customers while providing products and services to the Philippine market. The new entity, Allianz PNB Life Insurance , will operate across 660 branches in the Philippines .