MANILA, Philippines - The gross premium income of Pru Life Insurance Corp. of UK (Prulife UK) for 2008 has amounted to P4.1 billion based on its audited financial statement.
Net premium income reached P3.4 billion. “Our ranking is third for 2008 with P1.2 billion inclusive of reinsurance business, and fourth in 2007 with P1.1 billion. If the ranking is based on FY + 100 percent SP, inclusive of reinsurance business, we are still number three for 2008 with P2.2 billion and fourth in 2007 with P3.8 billion,” it said in a press statement. Gross renewal premium increased from P1.6 billion in 2007 to P1.9 billion in 2008.
New monies from unit-linked business before insurance charges amount to P2 billion. Surrenders were just P700 million. “Considering the financial turmoil that started in 2008, this still would prove the investors’ confidence in our linked funds,” it added.