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Pru Life UK reported a New Business Annual Premium Equivalent (NBAPE) of $170 million (₱9.8 billion) for the fiscal year 2024, according to data from the Insurance Commission (IC). This marks the highest NBAPE among all insurers monitored by the IC.
The insurer achieved a 33% growth in NBAPE in the fourth quarter, extending its lead over the nearest competitor to 8.87%.
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In addition to its strong performance in new business, Pru Life UK’s premium income from variable life insurance reached $810 million (₱46.1 billion), while its renewal premium income from the same category amounted to $630 million (₱36.2 billion).
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Note: Exchange rate is ₱57.27 to $1.0.
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