Pru Life UK claims continued leadership in the life insurance sector as it topped the Insurance Commission’s rankings for new business annual premium equivalent (NBAPE) and total premium Income from variable life insurance products for the third quarter of 2024.
The Insurance Commission reported that Pru Life UK achieved an NBAPE of P6.9 billion and total premium income of P33.9 billion from variable life insurance products as of 30 September 2024. These achievements underscore the company’s ongoing commitment to providing innovative, customer-centric insurance solutions to Filipinos.
“We are proud to maintain our leadership in the industry, as we remain steadfast in our mission to be the most trusted partner and protector of Filipino families,” said Francis Ortega, chief finance officer of Pru Life UK. “This milestone also marks our 28th year of serving our customers with integrity and dedication.”
In addition to these achievements, Pru Life UK recently made headlines with the grant of the country’s first Takaful (Islamic insurance) license by the Insurance Commission, filling a critical gap in the market for Shari’ah-compliant insurance and promoting financial inclusion for the over seven million Muslim Filipinos.
The company also launched PRUMillion Flex, an investment-linked insurance product with flexible premium payment options over just two years, offering customers greater financial flexibility.
Pru Life UK’s success is driven by its robust digital strategy, with more than 39,000 licensed agents using advanced technology to enhance customer experience and financial literacy. With over 1.9 million Filipino customers, the company is committed to building a more financially resilient society while continuing to evolve in line with the changing needs of its clients.
