Pru Life UK continues to lead the Philippine life insurance industry, securing the highest New Business Annual Premium Equivalent (NBAPE) of Php 9.8 billion in 2024. According to the latest Insurance Commission report, the company achieved a 33% quarter-on-quarter growth in the fourth quarter, widening its lead over competitors by 8.87%.
The insurer also demonstrated strength in Variable Life Insurance, posting Php 46.1 billion in Premium Income and Php 36.2 billion in Renewal Premium Income. This performance underscores Pru Life UK’s commitment to providing innovative insurance solutions that protect Filipino families.
To address the growing demand for wealth-building options, Pru Life UK recently introduced PRUMillion Flex, a limited-offer investment-linked insurance plan with a two-year payment period, and PRUFlexi Income Fund, which offers potential monthly payouts from global investments.
“Being the industry leader in new business premiums highlights our dedication to being Filipinos’ partner for life and protector for the future,” said Francis Ortega, Pru Life UK’s Chief Finance Officer. “We are grateful to our nearly 1 million policyholders and our 39,000-strong agency force, the largest in the country, for their trust and support.”
A milestone achievement for the company is its Takaful journey, aimed at serving the unprotected Muslim Filipino population. Recently granted the country’s first Takaful (Islamic insurance) operator license, Pru Life UK is set to introduce a Shari’ah-compliant insurance solution, ensuring financial protection that aligns with Islamic principles for over seven million Muslim Filipinos.
As Pru Life UK marks its 29th year in the Philippines in 2025, it remains committed to developing innovative insurance solutions that empower Filipinos to achieve their life, health, and wealth goals.
Learn more at www.prulifeuk.com.ph.
