Generali Pilipinas total premiums rise to over P1B

Insurer Generali Pilipinas (GP) posted a 57% hike or P1.17 Billion total premiums as of April, with revenue increase of 31% or P830 Million from its Life Business and 211% or P336 Million from its Property and Casualty Business.

In 2007, GP hit its P1 Billion mark only after the first half of year. This year, GP was able to generate it by end of April brought about by its aggressive sales channels that consistently experienced 2-digit growth rates over prior year. Exceptionally noteworthy however is GP’s Development Underwriters (DU) which steadily realizes a 3-digit growth.

GP’s BancAssurance channel showed an impressive year-on-year performance, having achieved P581 Million premiums from P436 Million last year. Brokers and Corporate Clients Channel, on the other hand, displayed impressive results with P269 Million, or an increase of 31% from last year.

Meanwhile, its Agency Channel continued to grow with P111 Million from P75 Million in April 2007. DU also displayed impressive results with P205 Million or 667% increase over the same period last year.

“We are happy with the accomplishment of the Generali Pilipinas Team. We look forward to better, bigger, and bolder figures as we vie to be among the top 5 companies in the Life insurance sector and top 10 in the Property & Casualty insurance sector,” shared Senior Executive Vice President & COO Sharon B. Maranan.

Recently, GP appointed First Future Sense Insurance Agency (FFSIA) as one of its life general agents. “The stability and goodwill established by Generali Pilipinas will definitely complement our marketing and management expertise,” shared FFSIA President Aurora G. Aragon.

“With GP, we are confident that we can achieve our P15 Million target by the end of 2008,” Ms. Aragon continued. Backed by the expertise of GP, she said, “FFSIA can develop top caliber unit managers and increase the motivation of insurance agents.”

FFSIA will be operating at its office at 8728 Saville Building Paseo de Roxas cor. Sen. Gil Puyat Avenue, Makati City. This strategic area shall provide FFSIA with a fair share of the local market segment due to its visibility and accessibility.

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.