Insular Life (InLife), the country’s largest life insurance company, reported strong growth in gross written premiums (GWP) and New Business Annual Premium Equivalent (NBAPE) for the first quarter of 2021.
InLife President and CEO Raoul E. Littaua said the company’s GWP totaled ₱3.5 billion, while NBAPE totaled ₱422.2 million for the first quarter of the year.
“InLife’s gross premiums for January to March 2021 grew by almost 53% compared to the same period last year. This growth rate is higher than the life insurance industry’s 37% increase. Our NBAPE also grew by almost 42% even as the industry’s NBAPE dipped by 3%,” Littaua said in an online media briefing.
To help spread the benefits of insurance to more Filipinos, Littaua explained that InLife plans to be the industry’s only complete provider of risk protection services: life insurance, health coverage, group insurance, and non-life insurance.
He added that InLife will further strengthen its women’s advocacy program Sheroes, and focus on the millennials and GenZ market.
“We are in business not just to generate premiums, but more importantly, to make a difference in the lives of our fellow Filipinos amidst this COVID-19 pandemic. And as we mark our 111th anniversary this November, our purpose to provide ‘A Lifetime for Good’ to our fellow Filipinos remains the same,” Littaua said.
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