Pru Life UK’s NBAPE bags $167m

Total premium income rose to $819.4m.

Pru Life UK posted the highest New Business Annual Premium Equivalent (NBAPE) at $166.6m (₱9.8b) in 2024, a press release said.

The company recorded a 33% quarter-on-quarter growth in the fourth quarter of 2024, widening its lead over its closest competitor to 8.87%.

Total premium income rose to $819.4m (₱48.2b), up from $785.4m (₱46.2b) in 2023.

Chief Financial Officer Francis Ortega attributed the strong performance to the company’s commitment to providing the right insurance products at the right time.

The company approved over 11,000 claims worth $37.4m (₱2.2b) in 2024.