Cagayan de Oro city, Philippines, – FWD Life Insurance Corporation (FWD Life) is expanding its operations in the Philippines with the opening of its first business hub in Cagayan de Oro City.
The hub will provide access to FWD Life’s insurance products to more than four million Cagayanos and residents of neighboring cities in Northern Mindanao. FWD Life is also set to extend its distribution reach in CDO, through the rollout of bancassurance offerings in Security Bank branches in June.
“We are excited to bring the FWD brand to Cagayan de Oro and Mindanao through our business hub, FWD agency team, and bancassurance partnership with Security Bank,” said FWD Life President and Chief Executive Officer Peter Grimes. “With this vibrant city’s growing economy and population, we are confident our CDO hub will significantly contribute to the growth and expansion of our business in the Philippines.”
The office, located in Limketkai Center, in the heart of CDO’s commercial district, is FWD Life’s first business hub outside Metro Manila. With the opening of the facility, FWD Life aims to build brand awareness, improve customer engagement and services, and strengthen its distribution support facilities. The agency already numbers in excess of 100 financial wealth planners based in CDO, with more expected to join FWD throughout the year.
“We are expanding our presence to reach more under-insured Filipinos and help them achieve financial peace of mind through relevant products and services that best suit their individual lifestyles and financial needs,” said Grimes.
As part of its expansion plans, FWD Life will open more business hubs in key cities across the country, including Davao and Cebu.
FWD Life Insurance Corporation is part of FWD Group, the insurance business arm of private investment group, Pacific Century Group. It is the first foreign life insurer to be granted a license under the new Philippines Insurance Code. The Insurance Commission granted its license in April 2014, business operations officially commenced in September, and its first agency hub was launched in Bonifacio Global City, Taguig City in November.
FWD Life Insurance Corporation Chief Human Resources Officer Rozanne Parungo, FWD Life President and Chief Executive Officer Peter Grimes, Cagayan De Oro City Local Economic Investment Promotions Officer Eileen San Juan,and Limketkai Sons, Inc. Executive Vice President and Chief Operating Officer Albino Limketkai at the ribbon cutting ceremony of the FWD business hub at Limketkai Center, Cagayan de Oro City.