Insular Life makes P4.93B in new business in 2012

Leading insurance firm Insular Life posted a 54-percent growth in new business premiums in 2012, the company announced Tuesday. The improvement brought its total for new business premiums to P4.93 billion, P1.7 billion higher than the total in 2011 and a company record in terms of new sales and total premiums. “Despite a slow start in 2012, production progressively picked up and rose to record levels by the second half of the year,” Insular Life chairman and chief executive Vicente Ayllon said in the company's statement. Insular attributed its substantial growth in premiums last year to a growing awareness of the need for risk protection and a strong appetite for long-term investment. Ayllon commended Insular Life's agents and employees for the company's improved performance. “In 2012, I personally challenged our agencies to reach new heights of performance and many of them responded with astounding results,” he said.” Insular Life also conducts financial and estate planning seminars to guide its clients on professional wealth management. — BM, GMA News