BPI-Philam Life reports higher premium

Bancassurance firm BPI-Philam Life Assurance Corp. continued to outpace its financial performance from previous years according to recent data released by the Insurance Commission. Across the board, the company grew more than a billion pesos in both premium income and net worth posting an increase of 6 percent and 22 percent in each category respectively. With a net worth of R7.149 billion, the company remains the top fastest-growing bancassurance firm in the list. Further, as part of the Philam group, BPI-Philam’s growth contributed to the strong industry standing of parent company Philam Life, boasting a combined premium income of R40.2 billion. “This growth is a testament to the company’s strong business model, customer-centric client servicing and industry innovative products,” said BPI-Philam CEO Surendra Menon.