Pru Life UK continues to lead the Philippine life insurance industry, achieving the highest New Business Annual Premium Equivalent (NBAPE) of Php 9.8 billion in full year 2024 according to the latest Insurance Commission report.
The company stayed strong with its 33% quarter-on-quarter growth in the fourth quarter of 2024, widening the gap to 8.87% compared to its nearest competitor. In particular, Pru Life UK is strong in Premium Income from Variable Life Insurance with a total of Php 46.1 billion and Renewal Premium Income from Variable Life Insurance reaching Php 36.2 billion.
This performance demonstrates Pru Life UK’s commitment to protecting more Filipino families through innovative insurance solutions that cater to their evolving needs and the high level of trust customers place in the company.
Recently, Pru Life UK introduced PRUMillion Flex, a limited-offer investment-linked insurance plan with a short two-year payment period, and PRUFlexi Income Fund, which provides potential monthly payouts from global investments. These new offerings address the growing demand for wealth-building options, giving Filipinos more ways to secure their financial future.
Francis Ortega, Pru Life UK’s Chief Finance Officer shares, “Being the industry leader in new business premiums underscores our commitment to being Filipinos’ partner for every life and protector for every future. We are grateful to our nearly 1 million policyholders for their trust and to our dedicated agency force—the largest in the country with over 39,000 agents allowing us to expand our market reach. With their support, we will continue providing innovative and accessible insurance solutions to protect more Filipino families.”
A testament to Pru Life UK’s commitment is its Takaful journey aiming to protect a huge unserved Muslim Filipino population. It was recently granted the country’s first Takaful (Islamic insurance) operator license by the Insurance Commission. This milestone addresses a long-standing gap for Shari’ah-compliant insurance in the Philippines1, ensuring that over seven million Muslim Filipinos have access to financial protection that aligns with their faith. Pru Life UK’s Takaful product will be available soon.
As Pru Life UK celebrates its 29th year in the Philippines in 2025, the company commits to introducing innovative insurance solutions that cater to the unique and evolving needs of Filipinos, helping them achieve their life, health, and wealth goals. Know more about the leading life insurer at www.prulifeuk.com.ph
