Generali Pilipinas combined premiums hit P2.6 billion

MANILA, Philippines - Generali Pilipinas has posted a 10-percent hike in its 2008 combined premiums to P2.6 billion.

Individual life business delivered a total premium production of P1 billion. Its group business continued to deliver growth to P734 million in 2008.

Property and casualty business also showed significant results by ending the year with P808 million. The significant growth is a combined effort from its multi-distributions, development underwriting, bancassurance and agencies.

The insurer’s determined effort in implementing its “change plan” which focuses on all its basic operations resulted in substantial improvements in claims management, cost control, renewals, persistency and in general a better efficiency in all operations.

“The improved foundation in business processes and people are paramount to Generali Pilipinas’ profitable growth in the future,” Derek Chan, Generali president and chief executive officer, said.

Recently, the insurer also launched its GEN Super Saver Plans and Peso Secure 88 Plans.

These plans provide policyholders’ security and protection they need for a short paying period of only five years. More importantly, GEN Super Saver and Peso Secure 88 offer guaranteed cash payouts of eight percent of the client’s initial coverage at the end of the 8th year and every other year thereafter.

Generali Pilipinas is a one-stop-shop for all insurance needs. Its products and services include individual life insurance, group life and medical, auto and home insurance, small and medium business protection, as well as commercial property insurance. It has offices in Metro Manila, Bacolod, Baguio , Cebu, Davao and other major cities throughout the country.

Generali Pilipinas is a joint venture between Generali Asia and Banco de Oro Unibank Inc. (BdO). In turn, Generali Asia is a regional alliance between Assicurazioni Generali (Generali) of Italy and Jerneh Asia Berhad of Malaysia.