The first trimester bodes well for Insular Life (InLife) after seeing its insurance operation record phenomenal growth in all its business lines including agency distribution, corporate solutions, and bancassurance channels.
“Our sales metrics are very encouraging. Our first trimester results are giving us double digit growth in agency and group sales,” said Raoul E. Littaua, who was recently promoted as president & CEO following a two-year stint as head of agency distribution and bancassurance channel.
During the first four months of the year, InLife has seen its overall first-year premium (FYP) soar 182% versus 2020. New business policies issued have likewise jumped 48%, and corporate sales is up 11%.
“Our bancassurance performance has gone through the roof in the first four months of 2021 registering 499% growth in FYP as compared to last year. In terms of APE, this is equivalent to 332% on the heels of a 316% growth in policy count,” revealed Littaua.
The newly-minted InLife chief executive expressed confidence that this upward trajectory will continue for the rest of the year.
“I am very pleased that this year we are on track to a big bounce forward after taking a hit from the effects of the pandemic last year,” he said.
“While the company has made extensive investment in industry-leading technology and digital readiness even before the pandemic struck, the priority was, and continues to be, the safety and well-being of our people. This year, however, our financial advisers have adjusted well; they are maximizing our digital end-to-end platforms while learning to co-exist with the virus for the time being. And it has had a ripple effect. By taking care of our own people, we have become an attractive destination for both seasoned and high potential FAs aside from prominent business partners,” said Littaua.
About The Insular Life Assurance Company, Ltd
Insular Life (InLife) is the first, largest, and only mutual Filipino life insurance company in the country with over 110 years of uninterrupted service. We apply over a hundred years of experience in financial protection, risk management, savings, and investment to help you make confident decisions for you and your loved ones.
As a mutual life insurance company, our accountability is to our policyholders. They can be assured of being protected by a company that has an asset base of over P148 billion and net worth of P37 billion. We have a nationwide presence in 57 branches all over the country, and an expanded digital footprint to serve our customers, wherever and whenever they want. Our success is anchored on the growth and security of our partners, policyholders and beneficiaries, because we exist to offer a lifetime for good for everyone. For more information, visit www.insularlife.com.ph.
