4/1/2024 0 Comments Sun life“A life insurer’s (new business annual premium equivalent) is computed by obtaining the sum of the value of first year premiums from products newly sold in a specific year (or the initialized annualized premium) and 10% of single premiums written,” Insurance Commissioner Dennis B. In the new business annual premium segment, Pru Life led with P7.95 billion, while Sun Life closed in with P7.8 billion. The commission said that Sun Life reached P39.23 billion in premium income that year, followed by Philippine AXA Life Insurance Corp., which posted P31.25 billion and Pru Life Insurance Corp. led the industry in premium income for 2020, the Insurance Commission (IC) said in its assessment of the firms’ annual statements.
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