By Chino S. Leyco
Insular Life (InLife) said that its consolidated net income increased by more than half last year due to higher earnings from its investments, various businesses, and lower operational costs.
In a statement, Nina D. Aguas, InLife executive chairman, said the company's consolidated net income reached ₱4.85 billion in 2019, up by 62 percent compared with ₱3 billion in the previous year on strong earnings from strategic equities, rental income, and other investments.
Aguas said InLife’s growth underscored its continuing pursuit of disciplined investing and operational excellence aimed at sustained profitability. InLife's consolidated member’s equity or net worth also rose by 8.4 percent to ₱43.92 billion from 40.51 billion, while its assets jumped 6 percent to ₱143.2 billion from ₱135.1 billion.
“Our sustained investments in technology and in our people, enabled us to keep our operating expenses in check, driving our net income up” Mona Lisa B. De la Cruz, Insular Life president and chief executive said.