Insular Life (InLife) finished strong in 2021 in terms of net worth, net income, and assets among all life insurance companies operating in the Philippines, according to unaudited quarterly reports submitted to the Insurance Commission.
InLife landed in the top five performers in terms of net worth, net income, and assets and number two in net worth with P43.92 billion, number three in net income with P4.67 billion, and number four in assets with P151 billion.
“Among the many indicators of life insurance companies, these three are the most important as they tell everyone about the company’s financial health status. InLife is in the business of insuring lives which means the most important for us is the company’s sustainability so that we are able to honor our financial obligations,” said InLife president and CEO Raoul Antonio Littaua.
Net worth is calculated as the total assets a corporation has minus its liabilities, while net income is the profit a business earns after deducting its expenses and taxes. Assets are all the available properties of every kind and possessions that will provide a future benefit for any corporation.
InLife, a mutual company, has been a life insurer for more than a century, Littaua said.
“We are a Filipino company competing amidst all these foreign-supported companies. We leverage on our 111 years of unbroken service to our fellow Filipinos. We are a mutual life insurance company, so our policyholders are also the owners of InLife. Above all, we are a Filipino company giving back to our country,” he added.
Littaua also said that while InLife banks on its more-than-a-century-long service, it continues to invest in industry-leading technology in order to maximize its digital end-to-end platforms and remain competitive in this fast-paced environment.
Aside from this, he said InLife remains focused on its customer centricity agenda.
“Instead of focusing on our competitors, we concentrate on our customers. They demand speed, convenience, and clarity from us so we give them all these. Our functional units know that, at the end of each quarter, they must be able to identify at least one thing they have done in order to make our customers’ experiences much better. We cannot be a passion brand if we do not have the passion and compassion ourselves,” Littaua said./PR