Philippine Prudential clarifies: It isn’t Prudential Life Plans

Philippine Prudential Life Insurance Company, Inc. assures its policyholders and the general public that it has no filial or business relationship whatsoever with Prudential Life Plans Inc., a pre-need company which deals in pension, education and memorial plans.

This is in response to customer and public concern following a current news report that Prudential Life Plans was issued a “stay order” by the Insurance Commission of the Philippines.

Philippine Prudential Life Insurance Company Inc. remains stable, financially strong and capable of meeting all of its obligations, as a duly licensed life insurance company by the Insurance Commission.

Philippine Prudential, founded in 1963, continues to be an industry leader in innovation and growth in the life insurance industry in the country.

It is a reputable 100-percent Filipino-owned financial services company committed to providing the best financial advice and diversified and affordable products ­ such as endowment plans, whole life plans, group and permanent plans, healthcare coverage, educational and pension policies and Credit Life Insurance ­ to its valued clients through its multiple and accessible distribution channels, through a nationwide sales office network manned by over 1,200 sales agents and employees.

Now celebrating 49 years of sterling, trustworthy and continuous service, Philippine Prudential continues to grow and serve the best interests of its more than 1.5-million policyholders and their families, with over P57 billion business-in-force.

As of December 31, 2010, it has total assets of over P681 million, which represents a 16.2-percent growth over the previous year or a tremendous 272 percent over a span of five years.

Total Equity is at over P228.9 million, from merely P139 million in 2005, or a five-year growth of 63.60 percent. Net Income is recorded at P23.86 million or a 210-percent growth over five years. Its Total premium income is recorded at over P890 million, a 31-percent growth over previous year or a 454-percent growth since 2005.

Total amount of claims paid is over P88.47 million for the year while the legal policy reserves, the funds invested to be used for future claims, is recorded at over P351 million, or an increase of P69 billion from previous year.

Total investments are at over P351.47 million.

Philippine Prudential has been awarded the prestigious Superbrands status, making it the only life insurance company to be given this distinction for two consecutive years: for the 2009-2010 awarding period and, again, for the 2011-2012 awarding period.

In addition, the company recently received a special recognition from the Insurance Commission for its valuable contributions and efforts in the field of microinsurance during its “Gabi ng Parangal at Pasasalamat sa mga Tagapagtaguyod ng Microinsurance.”

According to Philippine Prudential president and CEO, Gregorio D. Mercado, “Philippine Prudential Life Insurance Co. Inc. is financially sound, as it remains to be a stable and strongly capitalized company, duly licensed by our government regulator, the Insurance Commission.

Our valued policyholders can be assured that their interests are protected with the company’s financial strength and business expertise.

We remain focused on the daily execution of our business and continue to provide our clients with the highest levels of service, as we continue to expand and write new business, while remaining committed to meeting our policyholders’ needs.” — Philippine Prudential Life Insurance Co. Inc.

Loading...

Editor’s note:Yahoo Philippines encourages responsible comments that add dimension to the discussion. No bashing or hate speech, please. You can express your opinion without slamming others or making derogatory remarks.

  • Catholics organize to promote pope's climate change message

    NEW YORK (AP) — There will be prayer vigils and pilgrimages, policy briefings and seminars, and sermons in parishes from the U.S. to the Philippines. …

  • Forgotten for decades, fallen NY soldier finally honored
    Forgotten for decades, fallen NY soldier finally honored

    ALBANY, N.Y. (AP) — Carroll Heath didn't have it easy growing up in the Great Depression. His father wasn't around, his mother was a patient in a mental hospital and he kept largely to himself. Soon after graduating high school, he enlisted in the Army and wound up in the Philippines, where he's believed to have died sometime in 1942. …

  • APEC ministers to endorse Boracay Action Agenda
    APEC ministers to endorse Boracay Action Agenda

    Trade ministers at the Asia-Pacific Economic Cooperation (APEC) meeting in Boracay, Aklan agreed yesterday to endorse the proposed Boracay Action Agenda to the member countries’ leaders, presenting opportunities for global trade for micro, small and medium enterprises (MSMEs). In a press conference following the conclusion of the APEC Ministers Responsible for Trade Meeting, Trade Secretary Gregory Domingo, who also served as chairman, said ministers agreed to recommend the adoption of the …

  • Talks with China over sea row urged
    Talks with China over sea row urged

    The Philippines should engage China in bilateral talks in its efforts to maintain peace and order at the disputed West Philippine Sea, Sen. Francis Escudero said yesterday. Escudero supports the government’s move to bring the issue before international arbitration but also stressed the need for the Philippines to pursue talks with China. Escudero made the statement after UN Secretary General Ban Ki-moon on Friday called for a peaceful solution to territorial disputes in the South China Sea. …

  • House panel tackles bill on regular disaster drills
    House panel tackles bill on regular disaster drills

    The House committee on national defense is deliberating on a measure mandating the regular conduct of disaster risk reduction drills in educational institutions nationwide. Authored by Camarines Sur Rep. Rolando Andaya Jr., the bill mandates that risk reduction drills be held annually in all educational institutions throughout the country in coordination with the schools’ respective local government units. “The Philippines’ location along the Pacific Ring of Fire and close to the equator …

  • PCSO running out of funds
    PCSO running out of funds

    Philippine Charity Sweepstakes Office (PCSO) chairman Ireneo Maliksi has admitted that the revenue-generating agency is running out of funds as it continues with its mandate to provide financial assistance to indigent Filipinos. Aside from providing financial help to individual recipients, Maliksi cited at least 13 laws that mandates the PCSO to provide mandatory contribution to different government agencies. Just last week, PCSO released P100 million to the Commission on Higher Education as …

  • Cops receive mid-year bonus
    Cops receive mid-year bonus

    Active duty uniformed and non-uniformed personnel of the Philippine National Police (PNP)have received their mid-year bonuses. The PNP has released P1.9 billion for the mid-year bonus of the 155,000 active duty uniformed and non-uniformed personnel. The Directorate for Comptrollership released P1,933,664,893.50 through the Finance Service and subsequently credited to the individual ATM payroll accounts of active duty uniformed and non-uniformed personnel. …

  • APEC trade chiefs vow to speed up work in WTO

    MANILA, Philippines (AP) — Trade ministers from 21 Asia-Pacific countries on Sunday issued strong support to the World Trade Organization's efforts to boost global trade amid a flurry of regional free trade agreements. …

POLL

Should Aquino be held accountable over the Mamasapano operations?

Loading...
Poll Choice Options