Insular Life (InLife) finished 2021 strong 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 Philippine company that belonged to the top five performers in the said categories: number two in net worth with 43.92 billion pesos, number three in net income with 4.67 billion pesos and number four in assets with 151 billion pesos. pesos.
“Of the many indicators of life insurance companies, these three are the most important because they inform everyone about the financial health of the company. InLife is about securing lives, which means most important to us is the sustainability of society so that we are able to meet our financial obligations,” said the President and CEO of InLife, Raoul Antonio E. Littaua.
Net worth, net income and assets are some of the main indicators of a company’s financial health. Net worth is calculated as a company’s total assets minus its liabilities. Net income, on the other hand, is the profit a business makes after deducting its expenses and taxes. Assets are all available properties of all kinds and possessions that will provide future benefit to any company.
InLife, a mutual company, has been a life insurer for over a century. Litttaua said, “We are a Filipino company competing with all these foreign-backed companies. We build on our 111 years of uninterrupted service to our fellow Filipinos. We are a mutual life insurer, so our policyholders are also owners of InLife. Above all, we are a Filipino company that gives back to our country. »
Littaua also added that while InLife is building on its century-old service, it continues to invest in cutting-edge technology to maximize its end-to-end digital platforms and stay competitive in this rapidly changing environment. .
Other than that, he said InLife remains focused on its customer-centric agenda.
“Instead of focusing on our competitors, we focus on our customers. They demand speed, convenience and clarity from us, so we give it all to them. Our business units know that at the end of each quarter, they must be able to identify at least one thing they did in order to make our customers’ experience that much better. We can’t be a brand of passion if we don’t have passion and compassion ourselves.”