British life insurance company Pru Life UK—a subsidiary of international financial services group Prudential plc—has renewed its license with the Insurance Commission to continue operations in the Philippines and carry on with its mission to help Filipinos achieve their financial goals through its life insurance solutions.
In 1996, the Insurance Commission granted Pru Life UK the license to operate and sell life insurance products in the Philippines. Pru Life UK is the pioneer in the country of the sale of insuravest, or life insurance products with investment component, and is one of the first life insurers approved to market US dollar-denominated insuravest policies in the country.
Since then, Pru Life UK has expanded its reach to over 130 branches in the country, with the biggest life agency force of more than 20,000 licensed agents, and has emerged as one of the country’s top three life insurers, based on the Insurance Commission’s 2017 rankings in terms of new business annual premium income.
Prudential plc, which has businesses in Asia, the US, Europe and Africa, recently released its 2018 performance results, citing continued growth in profit and dividend. Please click here to know more.