Pru Life UK continued its reign as the leading life insurer in the country in the third quarter of the year, driven by strong sales and premium income, data from the Insurance Commission (IC) showed.
IC report showed that Pru Life UK achieved a total new business annual premium equivalent (NBAPE) of P6.9 billion and total premium income from variable life insurance products of P33.9 billion at end-September 2024.
NBAPE is a key performance indicator used to measure sales within the life insurance industry.
“As we continue to lead the industry, we strengthen our commitment as the most trusted partner and protector of Filipino families," said Pru Life UK Chief Finance Officer Francis Ortega.
"This is a fitting achievement as we celebrate 28 years of serving our customers with integrity and dedication,” he added.
The company attributed its success to its customer-centric approach, innovative insurance solutions, and a strong network of over 39,000 digitally empowered advisors.
Recently, Pru Life UK was granted the country's first Takaful (Islamic insurance) license by the IC, expanding financial inclusion to the Muslim Filipino community.
Furthermore, the company launched PRUMillion Flex, a new investment-linked insurance product with flexible payment options.
Pru Life UK said it remains committed to investing in digital technologies and financial literacy programs to enhance accessibility and support Filipinos in achieving their financial goals.