Allied Bank

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T - BILLS

Treasury Bills Auction Date: 6 May 2013
	91-DAY	182-DAY	364-DAY
High	0.500%	0.500%	0.750%
Low	0.035%	0.200%	0.375%
Average	0.217%	0.398%	0.602%
Ave. Inc.(+)/Dec. (-) over the past week	0.177%	0.182%	0.295%

PNB LIFE INSURANCE, INC. FAQs

FAQs – Change of Name effective May 1, 2008

Question/s [Q]: 1. Why did you change your name from New York Life to PNB Life?

Answer/s [A]:

The change in name of the company is necessary to reflect the name of its new majority owner. The previous majority shareholder, New York Life International, LLC, sold its shares to the former minority shareholder, Allied Banking Corporation and several individuals. As agreed with the NYLI, the company shall be using a new name starting May 01, 2008 as New York Life is no longer a shareholder in this company.

[Q]: 2. We thought your parent company is Allied Bank, how come your new company name is PNB Life?

[A]:

Allied Banking Corporation is the majority shareholder in this company. Allied Banking Corporation and Philippine National Bank have common majority owners. The Principal owners are presently finalizing plans to merge the two banks to come up with an even stronger financial institution. Our owners have decided to adopt the acronym of PNB as it has wider name recognition.

[Q]: 3. Is there truth to the reported pending merger between Allied Bank and PNB? When will this happen? Will this merger affect PNB Life?

[A]:

The merger talk and plans between the two banks have been on-going for some time now. It is expected that their Board of Directors will soon approve the pending matter and a formal announcement will be made.

The merger will not affect PNB Life as it will become the life insurance company of the merged bank. Eventually, PNB Life will be able to expand its market reach through the Philippine National Bank branches.

[Q]: 4. Who are the owners of PNB Life?

[A]:

PNB Life is presently 75% owned by Allied Banking Corporation with the remaining 25% shares owned by Dr. Lucio C. Tan and other individuals associated with his Group of Companies.

[Q]: 5. Will the stability of the company be affected by the change in name?

[A]:

The company is seen to become even more stable with the merger of the two banks as it presents a bigger market and more sales channels.

[Q]: 6. Will the change in name affect NYLIP’s obligations to its policy owners?

[A]:

PNB Life will continue to honor the obligations of NYLIP to policy owners. PNB Life aims to improve on its service and product offerings to these clients in order to express its appreciation of their continued patronage.

[Q]: 7. Would there be changes in your company’s management as well?

[A]:

PNB Life is presently a 100% Filipino managed company. This is to make it more attuned to the markets that it wishes to serve. Management and the rest of the company personnel continue to look for ways to improve its product offerings and business conduct.

[Q]: 8. Have you also changed the products?

[A]:

The company will continue to offer the products which best suit the needs of its market and develop other offerings to attract new policy owners.

[Q]: 9. What happens to my NYL policy? Will PNB Life honor my policy contract?

[A]:

We have started the process of sending notices to our policy owners to reassure them that NYLIP policy contracts will be honored by PNB Life. Policy owners are advised that they may continue to pay their premiums thru our usual business partners.

[Q]: 10. Will insurance policies issued by Beneficial PNB Life Insurance Co., Inc. also be serviced by PNB Life?

[A]:

Beneficial PNB Life Insurance Co., Inc. is a separate and different company from PNB Life Insurance, Inc. Thus, policies which were issued by Beneficial PNB will continue to be honored and serviced by Beneficial PNB and not by PNB Life.

[Q]: 11. Where do we call for urgent concerns?

[A]:

Clients can reach us through our hotline 818-HELP (4357), trunk line 818-5433 (LIFE), domestic toll free number 1-800-10-4130253, or via email help@pnblife.com.

[Q]: 12. Where do we go for claims or other concerns?

[A]:

For your claims and other concerns, you may proceed to PNB Life Main Office at Makati and our other offices located in Binondo, Manila; Gorordo, Cebu City and CMRecto, Davao City.