Insular Life, the country’s largest life insurance company, on Tuesday reported a strong growth in gross written premiums and new business annual premium equivalent in the first quarter.
InLife president and chief executive Raoul Littaua said in an online briefing gross written premiums reached P3.5 billion, while NBAPE totaled P422.2 million in the first three months.
“InLife’s gross premiums for January to March 2021 grew by almost 53 percent compared to the same period last year. This growth rate is higher than the life insurance industry’s 37-percent increase,” he said. “Our NBAPE also grew by almost 42 percent even as the industry’s NBAPE dipped by 3 percent.”
Littaua said to help spread the benefits of insurance to more Filipinos, InLife was planning to be the industry’s complete provider of risk protection services that include life insurance, health coverage, group insurance and non-life insurance.
He said InLife would further strengthen its women’s advocacy program Sheroes and focus on the millennials and GenZ market.