Big Wins for Generali Pilipinas

“We should remain on an upward growth track given the challenging insurance backdrop. If there are new challenges and opportunities along the way, all the more that we must thoroughly understand the market and exercise a rigid discipline in our service.”

That is a weighty advice coming from Generali Pilipinas (GP) SEVP and Chief Operating Officer Ma. Sharon B. Maranan. Having registered P1.52 billion premiums as of June 2008 or a 27% increase from P1.2 billion in the same period last year, GP is indeed getting closer to its strategic goals. This increase was attributable to the encouraging performance of the Company’s Life, Property and Casualty operations having achieved P1.059 billion from P1.020 billion and P465 million from P180 million premiums, respectively from January to June 2008.

Its BancAssurance Channel has consistently outperformed benchmarks by delivering P719 million premiums as of June. “The BancAssurance channel is doing quite well in pushing GP’s regular-pay life insurance products. In fact, BancAssurance breached the P10-million mark in May 2008 through regular-pay life insurance,” said SEVP and Chief Marketing Officer Joe V. Ferreria.

Development Underwriting (DU), on the other hand, grew 353% compared to the same period last year by posting P274 million from P 61 million. This impressive stride from the DU premiums came mostly from the commercial fire line. Brokers Corporate Clients Channel (BCC) likewise expanded 19% year-to-date (YTD) premiums to P 357 million from P 300 million.

Notable, too, is the 48% premium income leap or P173 Million from P 117 million YTD production from the life and motor lines of the Company’s Consolidated Agency.

This continuing growth of GP is not only a testament to its outstanding performance but also to its success in developing its human resource.

Just recently, the Life Office Management Association (LOMA) granted the LOMA 2008 Excellence in Education Award to GP for developing its human resource through the use of LOMA’s professional education and learning programs and its exceptional pass rates for LOMA examinations. “We are proud to say that GP was among the 85 member companies of LOMA that was named winner out of its 1,200 international insurance and financial services members,” shared Resources Management Head Marelene C. Aguilar. All the winners will be honored during the 2008 LOMA Annual Conference and Conferment in San Diego, California.

GP ended year 2007 with 93.33% average pass rate for all LOMA programs, and 100% average pass rate in the following:

• LOMA 280: Insurance Principles
• LOMA 290: Insurance Operations
• LOMA 330: Management Principles and Practices
• LOMA 371: Solvency/Profitability
• LOMA 288: Principles of Financial Services and Products

“This is another milestone for GP. We look forward to more successful examinees this year as we vie to be among the major players in the Life and P&C industries,” Aguilar added.