The insurer Pru Life UK on Tuesday reported a stellar second-quarter performance thus far this year.
The company achieved the highest new business annual premium equivalent (NBAPE) and ranked first in total premium income from variable life insurance products, replicating its success from the first quarter.
Insurance Commission (IC) data show Pru Life UK achieved a total NBAPE of P4.8 billion and total premium income from variable life insurance products of P22.5 billion as of 30 June 2024.
The performance underscores Pru Life UK’s market leadership and commitment to offering innovative, customer-focused insurance solutions.
NBAPE is the key performance metric for evaluating sales in the Philippine life insurance industry, providing essential insights for insurers, investors, and regulators.
“We are delighted to maintain our position as the number one life insurer in the Philippines, reflecting our dedication to delivering quality insurance protection to our customers. Our continued success in achieving the highest NBAPE in the second quarter reaffirms our commitment to innovation, customer trust, and building a financially resilient society,” said Pru Life UK chief finance officer Francis Ortega.
Pru Life UK again reinforced its reputation as a strong and stable insurance provider for Filipinos.
It remains steadfast in empowering more than 1.8 million Filipinos to achieve their financial goals and secure their future through its over 38,000 agency force.
Its investments in digital technology and its financial literacy initiatives help push the development of a more financially resilient economy while adapting to its customers’ evolving needs.
