Insular Life said Tuesday it retained its position among the country’s top five life insurers in terms of net worth, net income and assets based on unaudited quarterly reports submitted to the Insurance Commission.
InLife maintained its industry ranking as number two in net worth with P49.39 billion, number three in net income with P3.96 billion and number four in assets with P144.59 bbillion.
“InLife’s firm position in terms of net worth, net income and assets indicates our financial stability and our capability to deliver our obligations to our policyholders,” said InLife president and chief executive Raoul Antonio Littaua.
“In addition to our high ranking in the industry which is dominated by foreign companies, our huge investments in digitalization and strong customer focus show our commitment to help Filipinos achieve their financial goals,” Littaua said.
He said InLife leveraged on its 112 years of uninterrupted service to spread the benefits of life insurance to Filipinos and in turn contribute to nation-building.
Net worth, net iincome and assets are among the top measures of a company’s financial stability.
InLife, with almost P2 bbillion in New Business Annualized Premium Equivalent, improved its ranking in terms of sales performance to 9th place in 2022 from 12th place in 2021.
InLife registered the highest growth rate of 43 percent in NBAPE in the list of top 10 life insurers.
InLife is the first, largest and only mutual Filipino life insurance company in the country with over 111 years of service.