InLife, the country’s first and largest Filipino life insurance company, reported stronger financial performance in 2024 compared to 2023.
InLife President and CEO Raul Antonio E. Littaua said the parent company’s 2024 revenues, net income, and assets were driven by higher insurance revenues and stronger sales performance.
InLife parent company’s revenues climbed to P26.95 Billion in 2024 from P24.82 Billion in 2023. Net income grew to P2.7 Billion last year from P2.64 Billion in 2023; while assets increased to P158.87 Billion last year from P153.54 Billion in 2023. New Business Premiums grew to P12.06 Billion last year from P10.05 Billion in 2023.
“At the backdrop of our solid financial position, InLife paid P10.5 billion in total claims and benefits in 2024. This mirrors our commitment to our policyholders and their beneficiaries,” Littaua said during InLife’s Annual Members’ Meeting.
InLife’s 2024 consolidated revenues, net income, and assets also increased compared to 2023. Revenues climbed to P27.04 Billion last year from P25.37 Billion in 2023; while net income increased to P2.78 Billion last year from P2.1 Billion in 2023. Assets grew to P158.89 Billion in 2024 from P153.54 Billion in 2023.
As InLife marks 115 years of uninterrupted service this year, Littaua reiterated the company’s mission to help Filipinos achieve their dreams and secure their future.
“We continue to deliver tailored insurance solutions to meet our customers’ evolving financial needs: from building wealth and securing futures; to standing strong against health challenges, ensuring worry-free retirement, and safeguarding companies and their employees. InLife’s enduring commitment is to maintain our strong financial position, sustain the trust of our policyholders, and help empower our communities,” he said.
InLife stands among the country’s top ten life insurers in terms of net worth, assets, net income, and sales performance. According to the Insurance Commission’s industry performance report for 2024, InLife ranked number 3 in net worth, number 4 in assets, number 7 in net income, and number 8 in New Business Annualized Premium Equivalent.
