{"id":9103,"date":"2024-03-29T10:17:39","date_gmt":"2024-03-29T02:17:39","guid":{"rendered":"http:\/\/zestmag.com\/online\/?p=9103"},"modified":"2024-03-29T10:17:59","modified_gmt":"2024-03-29T02:17:59","slug":"pru-life-uk-solidifies-position-as-top-life-insurer-in-ph","status":"publish","type":"post","link":"http:\/\/zestmag.com\/online\/pru-life-uk-solidifies-position-as-top-life-insurer-in-ph\/","title":{"rendered":"Pru Life UK solidifies position as top life insurer in PH"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Pru Life UK ranks number one in the life insurance industry in the Philippines, garnering the highest New Business Annual Premium Equivalent (NBAPE) as reflected in the recently released Insurance Commission (IC) report as of 31 December 2023.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The report shows that Pru Life UK achieved an\nimpressive NBAPE of Php 10.54 billion for 2023 representing 11% growth. The\ncompany broadened the gap with the closest competitor by a margin of Php 472\nmillion. NBAPE serves as the universally accepted performance metric used to\nassess sales performances of the life insurance industry in the Philippines.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Owing to the company&#8217;s innovative offerings, Pru Life\nUK also leads in total premium income from variable life insurance products,\namounting to over Php 45.7 billion as of 31 December 2023.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">With over 42,000 digitally empowered agents and 1.7\nmillion lives assured, Pru Life UK strengthens its market leadership reflecting\nthe company\u2019s unwavering commitment to being the most trusted partner and\nprotector of many Filipino families. &nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">More than numbers, Pru Life UK also attributes its\nindustry success to good corporate governance which guides the business to lead\nwith transparency and integrity. A Golden Arrows awardee for five (5) consecutive\nyears since 2018, Pru Life UK has cemented itself as a beacon of responsible business practices in the\nPhilippines. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;<em>It is with great pride and honor that we achieved\nthe country\u2019s number one life insurer position in 2023, <\/em>&#8221; said Francis\nOrtega, Executive Vice President and Chief Financial Officer of Pru Life UK. &#8220;<em>We\nexpress our heartfelt appreciation to our customers, partners, employees, and\nagency force for their collective efforts that have driven us to achieve this\nsignificant milestone. Our purpose, &#8220;For Every Life, For Every\nFuture,&#8221; guides us in providing innovative and accessible solutions to\nevery Filipino. We aim to be the most trusted partner and protector for this\ngeneration and generations to come by providing simple and accessible financial\nand health solutions.\u201d<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The consistent growth of\nPru Life UK is aligned with that of its parent company, Prudential plc, which\nrecorded a 45% increase in new business profit to USD 3.1 billion as of 31\nDecember 2023.\n\nAs\nit further strengthens its commitment to providing financial solutions addressing\nthe evolving needs of Filipinos, the company recently launched PRULove Wealth,\na single premium product designed to provide Filipinos life insurance coverage\nwhile also allowing them to earn returns with rates comparable with those from\nhigh-yielding time deposits. The plan uniquely offers 4% guaranteed annual cash\npayout, 100% cashback, and up to 125% insurance coverage.\n\n\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pru Life UK achieved an impressive NBAPE of Php 10.54 billion for 2023 representing 11% growth. The company broadened the gap with the closest competitor by a margin of Php 472 million. NBAPE serves as the universally accepted performance metric used to assess sales performances of the life insurance industry in the Philippines.<\/p>\n","protected":false},"author":3,"featured_media":6892,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[1810,2275,2086],"class_list":["post-9103","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-newsmakers","tag-insurance","tag-insurance-industry","tag-pru-life-uk"],"_links":{"self":[{"href":"http:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/posts\/9103","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"http:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/comments?post=9103"}],"version-history":[{"count":1,"href":"http:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/posts\/9103\/revisions"}],"predecessor-version":[{"id":9104,"href":"http:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/posts\/9103\/revisions\/9104"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/media\/6892"}],"wp:attachment":[{"href":"http:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/media?parent=9103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/categories?post=9103"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/tags?post=9103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}