#CulturePH - Pru Life UK Reinforces Market Leadership and Eyes Continued Growth in 2025

Pru Life UK is making waves in the insurance industry, solidifying its position as the leading life insurer in the Philippines. With outstanding business results and a commitment to providing affordable and accessible financial solutions, Pru Life UK is set to continue its growth trajectory in 2025.

Impressive Business Performance 

In 2024, Pru Life UK achieved the highest New Business Annual Premium Equivalent (NBAPE) at PHP9.8 billion, according to the latest Insurance Commission report. The company posted a remarkable 33% quarter-on-quarter growth in Q4 2024, extending its lead over its closest competitor to 8.87%. Additionally, Pru Life UK's total premium income rose to PHP48.2 billion, up from PHP46.2 billion in 2023, and its risk-based capital ratio strengthened to 491%, up from 453% the previous year.

Innovative Products Driving Success 

Pru Life UK's strong business performance is driven by innovative products like PRULifetime Income3, which guarantees a 5% annual payout and 200% lifetime protection, and PRUMillion Flex3, a limited-offer investment-linked insurance plan payable in two years. These products have resonated with customers, helping them achieve their financial goals.

Expanding Portfolio in 2025 

Looking ahead, Pru Life UK plans to expand its portfolio with new health and protection solutions. As the first Takaful operator in the Philippines, the company is preparing to introduce its first affordable, Shariah-compliant Family Takaful product to meet the protection needs of the Muslim Filipino community.

Commitment to Customers 

Rozanne Magararu, Chief Customer & Marketing Officer, shares, “The trust of close to one million policyholders inspires us to protect more Filipinos.” In 2024, Pru Life UK approved more than 11,000 claims amounting to PHP2.2 billion, underscoring the company's commitment to fulfilling its promise to customers.

Strategic Partnerships and Growth 

Pru Life UK's growth strategy includes strengthening distribution channels through new partnerships. Sanjay Chakrabarty, President and CEO, states, “As we continue our journey of providing accessible and relevant insurance solutions to more customers, we look forward to strategic partnerships that will expand our reach, as well as innovative and targeted products and enhanced services.”

Celebrating 29 Years in the Philippines 

As Pru Life UK marks its 29th year in the Philippines, the company remains confident in its future trajectory and steadfast in its mission to be the most trusted health protector and life partner.

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