BDO Life posts double-digit growth in H1

Despite the drop in industry-wide premiums for the first quarter of the year,, BDO Unibank’s life insurance subsidiary, BDO Life Assurance Company Inc., registered 27% growth in total premium income.

The firm said this is a result of the life company’s sustained focus on the sale of regular premium individual products.

Individual Life new business weighted premiums posted a 26% hike while renewal premiums grew a hefty 30%. Strong growth in both traditional and variable life product sales impacted 2016 new business results.

In 2015, BDO Life’s total written premiums grew 27% year on year.

BDO Unibank’s acquisition of BDO Life (previously known as Generali Pilipinas Life Assurance Company, Inc.) has enabled the Bank to diversify into the life insurance sector and solidify its presence in the broad-based middleincome market. .

With BDO Life’s sales force consists of over 850 Financial Advisers and Sales Managers, BDO Unibank expects to accelerate the cross-selling of insurance products to the bank's expanding client base.

BDO Life President & CEO Renato A. Vergel De Dios shares, "Our rebranding as BDO Life will significantly facilitate client referrals, sales, and recruitment of sales personnel. That is a definite plus for BDO Life going forward.”