How Pru Life UK Dominated the Philippine Insurance Market in 2024

Pru Life UK emerged as the top life insurer in the Philippines for 2024, achieving a New Business Annual Premium Equivalent (NBAPE) of Php 9.8 billion, according to the latest Insurance Commission report.

The company recorded a 33% quarter-on-quarter growth in the fourth quarter, widening its lead over competitors by 8.87%.

Pru Life UK led in Premium Income from Variable Life Insurance, totaling Php 46.1 billion, and Renewal Premium Income, reaching Php 36.2 billion.

The company launched new products, including PRUMillion Flex, an investment-linked plan with a two-year payment period, and PRUFlexi Income Fund, offering potential monthly payouts from global investments.

Pru Life UK also secured the country’s first Takaful (Islamic insurance) operator license, aiming to serve over seven million Muslim Filipinos with Shari’ah-compliant financial protection.

Celebrating its 29th year in 2025, Pru Life UK remains committed to providing innovative insurance solutions to support Filipinos’ life, health, and wealth goals.