Generali Pilipinas concludes 2007 with P2.37 Billion

Insurer Generali Pilipinas (GP) posted a 26% hike in its 2007 combined premiums with revenue of P1.90 Billion from its Life business and P471 Million from its Property & Casualty business.

Daniel T. Daly, President & CEO, stated that although the business environment for year 2007 was challenging, GP prospered and achieved growth close to its strategic goals.

GP’s frontrunners are its Brokers and BancAssurance teams who delivered P641.53 Million and P1.26 Billion, respectively. Its Agency Channel, on the other hand, continued to execute growth at P249.40 Million from P232.16 Million in December 2006. The Development Underwriting Channel also showed great potential by ending the year at P216.38 Million.

Recently, GP also launched its GEN Homeowner Protect residential fire insurance. Designed for homeowners, it provides comprehensive protection against loss or damage to buildings, contents, personal effects or property of resident employees. Complementing this product is the Home Replacement Value Estimator (HRVE) specifically designed to determine the right amount of insurance for a house using comparable materials based on current market estimates.

“Determining the replacement cost of your home is easy with GP’s HRVE. In using this tool, you simply visit our website: www@generali.com.ph, indicate your home construction type and floor area to get GP’s recommended minimum insurance coverage for your home,” said Mr. Daly.

GP is a strong advocate for home disaster preparedness in the country. Its products and services include life insurance, auto and home insurance, small and medium business protection, employee benefit plans as well as commercial property insurance. It has offices in Metro Manila, Bacolod, Baguio, Cebu, Davao and other major cities throughout the country.