Pru Life UK has reported a record-breaking New Business Annual Premium Equivalent (NBAPE) of $166.6 million (₱9.8 billion) for 2024, marking a significant milestone in the company’s growth.
The company also saw a 33% increase in NBAPE during the fourth quarter of 2024, further solidifying its market position with an 8.87% lead over its nearest competitor.
In addition to its success in new business premiums, Pru Life UK’s total premium income rose to $819.4 million (₱48.2 billion), up from $785.4 million (₱46.2 billion) the previous year, reflecting consistent growth and strong financial performance.
Francis Ortega, Chief Financial Officer of Pru Life UK, credited the company’s robust performance to its strategic focus on delivering timely and relevant insurance products to meet the needs of its customers.
The insurer also reported approving over 11,000 claims, totaling $37.4 million (₱2.2 billion), for the year.
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