MANILA, Philippines - Insular Life expects to end 2014 with a net worth of P30 billion, which may put the company ahead of all competition within the insurance industry, for three consecutive years.
Industry data show that Insular Life has been consistently posting the highest net worth -- the difference between assets and liabilities -- among insurance companies in the Philippines.
Net worth is a good metric of the financial health of an insurance company.
Last year, Insular Life, the largest Filipino-owned insurance company which turned 104 years this year, had a net worth of P28.42 billion, up from P27.07 billion in 2012, and P21.08 billion in 2011.
“We have consistently delivered on our promise to grow the company and we will continue to do this moving forward because we have a team from the management down to the rank and file that is highly competent, disciplined, and dedicated to our core values,” said Insular Life chairman and CEO Vicente Ayllon.
Ayllon said Insular Life also figures as a top performer in terms of sales: the company collected P11.15 billion worth of premiums last year, up 21.28 percent over 2012.