Pru Life UK Maintains its Leadership Position for Q1 2024
Pru Life UK sustains its position as the
leading life insurer in the Philippines, concluding the first quarter of 2024
with the highest New Business Annual Premium Equivalent (NBAPE), following its
top ranking at the end of 2023.
The report from the Insurance Commission
(IC) shows Pru Life UK garnered a
total of Php 2.36 billion in NBAPE as
of 31 March 2024. NBAPE serves as the universally accepted performance metric
used to assess and compare sales performances of the life insurance industry in
the Philippines*.
By leveraging on a customer-centric
approach and product innovation, together with the support of its over 37,000
digitally empowered agency force, Pru Life UK also leads in total premium
income from variable life insurance products, amounting to over Php 11.1
billion as of 31 March 2024.
Solidifying its strong market position and
growth potential in the insurance industry, Pru Life UK continues to diversify
its innovative offerings with the launch of PRULove for Life, a limited-pay,
whole-life participating plan for as low as Php 87** per day, and
PRULove Wealth***, a single premium product offering 4% guaranteed
annual cash payout, 100% cashback, and up to 125% insurance coverage.
"We are proud to have sustained our position as the top
life insurer in the Philippines for the first quarter of 2024 based on the IC’s
NBAPE ranking. This achievement reflects our unwavering commitment to providing
innovative financial solutions to Filipino families. It is a testament to our
agility, resilience, and relentless focus to provide only what’s best for our
customers," shares Sanjay
Chakrabarty, Pru Life UK’s President and Chief Executive Officer.
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