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 is the only Filipino company that belonged to the top five performers in the said categories: number two in net worth with P43.92 billion, number three in net income with P4.67B, and number four in assets with P151B.
“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 Chief Executive Officer Raoul Antonio E. Littaua.
Net worth, net income, and assets are among the top indicators of a company’s financial health. Net worth is calculated as the total assets a corporation has minus its liabilities. Net income, on the other hand, 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.
Littaua said InLife continues to invest in industry-leading technology to maximize its digital end-to-end platforms and remain competitive in this fast-paced environment.
He said InLife also 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.” – Press release
April 20, 2024
