THE Insurance Commission (IC) said in a recent report that Allianz PNB Life is ranked among the country’s top 5 life insurance companies and stll the fastest-growing life insurance company in the Philippines.
The report covers the performance of all life and non-life insurance companies in the Philippines in the first quarter (Q1) of 2021.
This year, the company clinched the top 4 and 3 spots in New Business Annual Premium Equivalent (NBAPE) and Gross Written Premiums (GWP), respectively.
NBAPE is a global standard which measures performance of life insurance companies. It is based on the total of first year premiums and 10% of the single premium within the same period.
On the other hand, GWP is the total premium earned by the company including additional and/or return premiums before any deductions.
“We at Allianz PNB Life are honored to be recognized for maintaining our momentum and starting the year strong despite the continuously challenging market conditions. We attribute our success to the hard work of our people in meeting Filipinos’ rising awareness on the value of insurance and the quality of our solutions,” said President and CEO Alexander Grenz.
Allianz PNB Life is proud to be among the first insurers to have its online sales process approved by the Insurance Commission, which quickly enabled its distribution force—aptly named Life Changers—to reach clients more efficiently and effectively despite restrictions on face-to-face transactions.
“Our mission is to serve as Life Changers who secure our customers’ future through simple, fair, and sustainable solutions,” said Chief Distribution Officer Chris Cabognason.
“It is an honor for us to remain the fastest-growing life insurance company in the Philippines because it affirms our lead role in bridging the insurance gap in the country,” he added.
Future-forward, Allianz PNB Life said it will invest further in its digital roadmap to be able to provide simpler and more accessible solutions to customers.
“We want to be where our customers are and continuously make it easy for them to choose us as their insurance partner throughout their life journey,” Grenz added.