Pru Life UK tops Philippine Life Insurance with highest Q2 NBAPE

Pru Life UK maintains its leading position, as the Philippines’ insurance provider with a stellar second-quarter performance in 2024.

The company achieved the highest New Business Annual Premium Equivalent (NBAPE) and ranked first in Total Premium Income from Variable Life Insurance Products, replicating its success from the first quarter.

The Insurance Commission (IC) has reported that Pru Life UK achieved a total NBAPE of Php 4.8 billion and a Total Premium Income from Variable Life Insurance Products of Php 22.5 billion based on their 30 June 2024 report.

This strong performance underscores Pru Life UK's market leadership and commitment to offering innovative, customer-focused insurance solutions.

NBAPE is the key performance metric for evaluating sales in the Philippine life insurance industry, providing essential insights for insurers, investors, and regulators.

“We are delighted to maintain our position as the number one life insurer in the Philippines, reflecting our dedication to delivering quality insurance protection to our customers. Our continued success in achieving the highest NBAPE in the second quarter reaffirms our commitment to innovation, customer trust, and building a financially resilient society," says Pru Life UK Chief Finance Officer Francis Ortega.

Pru Life UK has yet again reinforced its reputation as a strong and stable insurance provider for Filipinos.

It remains steadfast in empowering more than 1.8 million Filipinos to achieve their financial goals and secure their futures through its over 38,000 agency force.

Through investments in digital technology and financial literacy initiatives, Pru Life UK is driving the development of a more financially resilient society while adapting to its customers’ evolving needs.