RAHUL HORA

President/CEO
Axa Philippines
Ground Floor, Philippine AXA Life Centre
Senator Gil Puyat Avenue corner Tindalo Street
Makati City, Metro Manila

Attn: Licensing Department

Grievance Department

Sir:

Greetings of peace and prosperity.

This is to formally tender my irrevocable resignation as Financial Advisor of Axa Philippines effective
immediately.

My decision to resign has nothing to do with the company considering that I have always believe in the
company’s values driven approach in providing financial services to its clients as well as its well-structured
financial products which are par excellence in the industry. My decision has something to do with the
group of financial advisors that I belong to.

I am a part of Life Savers Bukidnon Team with Ms. Lorelie Roriguez as the area manager and Mr. Francis
Endaya as the branch Head. As a Financial Advisor eager to provide business to the company, I have
successfully submitted four accounts/cases and I intend to add more with my prospects ever expanding.
These prospects, three of which are big institutions in bukidnon, namely: Bukidnon Second Electric
Cooperative, Bukidnon State University and Malaybalay City Employees Cooperative, were discussed with
Ms. Rodriguez as the area manager. Ms. Roriguez as well as the rest of the team very well knew that these
accounts were under my negotiation and that processes for the decking of these accounts under my name
were already in place.

To my great surprise, I found out that Leilah Fe Tulang- Serafin, the sister of ms. Roriguez who is also a
financial advisor in the same team tried, with the express consent of Ms. Roriguez, to poach the account
from me. After I learned of the same, I raised my protest with Ms. Rodriguez she being the area head but
my protestation landed on deaf ears. Instead of responsibly admonishing ms tulang-serafin, ms. Rodriguez
expressly encouraged the latter in going after my account. In fact, ms. tulang-serafin unabashedly made
a product presentation in BSU despite my protestation.

Because I was shunned by ms rodriguez, I raised my protest with Mr. Endaya, he being the branch head.
Expecting that Mr. Endaya would deal with the issue fairly in my favour, he instead instructed Ms.
Rodriguez to go after my accounts.

Ms. Rodriguez took it against me that I made known my opposition to her sister’s efforts in pursuing my
BSU account. Since then, Ms Rodriguez has made disparaging remarks not only on my work but on my
personal life as well. These are some of the many incidents that show the unfair and unethical practices
of these people representing Axa Philippines.
AXA is a great company. A company however is only as great as its people. There is no great company
without great people in the field. As financial advisors, we are supposed to maintain the highest standards
of integrity and professionalism not only to our clients but to our colleagues as well. We are obliged to
abide not only with rudimentary rules but with basic professional ethics as well.

Notably, under the 2013 Market Conduct Guidelines which was adopted and implemented by the
Insurance Commission through its Circular Letter 2013-33 dated November 4, 2013 providing for a
comprehensive set of rules of conduct and behavior of all agents in the life-insurance industry to protect
the policyholders and the insuring public, insurance agents are prohibited from, among others, poaching
businesses of another agent. A violation of this prohibition warrants the penalty of cancellation of the
agent’s license.

Perhaps, Ms Rodriguez, Ms. Tulang-Serafin and Mr. endaya are not aware of the afore-cited circular-letter
but nonetheless their actions are unacceptable and unethical. Their behaviour if not corrected would
cause irreparable injury and prejudice to the company as well as to the insuring public. Public interest
therefore dictates that they should be dealt with accordingly.

In this regard, please take this as my formal complaint. I am attaching screenshots of the conversation
between Ms. Roriguez and Mr. Endaya in their respective Facebook messenger. Affidavits of witnesses
will be submitted soon. Should you require more facts and evidence to prove my point, I am more than
willing to provide you. I can be reached at the number given below.

Finally, going back to my resignation, I am respectfully requesting for a release paper or clearance from
AXA Philippines through Axa Cagayan de oro.
I hope this letter would be acted with favourable dispatch. Thank You and God Bless.

Respectfully yours,

Sheila Maye Tortola

09177976344