Generali Pilipinas (GP) and BDO Bancassurance Extends Upward Trend

GP and BDO’s Bancasurance Team continues its record-breaking performance, having an increase of 175% in its Individual Life New Business premiums from the previous year or a total of P1.7 Billion premiums as of June, 2009.

This remarkable performance was brought about by Bancassurance’s effective implementation of strategies, ensuring the increase of its market and growth delivery. In fact, its superb results in March, April, May and June brought a total of 172% growth for the 1st 6 months of the year, compared to year 2008.

“Our hard work and strategies are now paying off. We have gained a more solid footing in the Bancassurance business, albeit the challenging conditions in the industry,” shared SVP and former Bancassurance Channel Head Melvin Esteban. The consistent excellent performance of the Generali-BDO Bancassurance, he said, is brought about by the synergy of BDO’s branches and Generali Pilipinas’ Financial Advisors (FAs).

“The continued record-breaking performance of Bancassurance is phenomenal. With its back-to-back record-breaking performance, we can say that we have achieved turn-around in Bancassurance to building one of the most productive and competent Bancassurance sales force in the market. In fact, the productivity count of Bancassurance’s Financial Advisors for 2009 is more than 3 cases, with an Annual Premium Equivalent of over 210,000 per month. These results are high industry standards,” added Generali President and CEO Derek Chan.

Generali is a partnership among three financial giants. Assicurazioni Generali of Italy, one of the world’s largest insurance company, Jerneh Asia Berhad of Malaysia, a specialist insurer in the marine, industrial, and engineering fields, and BDO, the country’s largest bank.

Generali is a one-stop-shop for all your insurance needs. Its products and services include individual life insurance, group life and medical, auto and home insurance, small and medium business protection, as well as commercial property insurance. It has offices in Metro Manila, Bacolod, Baguio, Cebu, Davao and other major cities throughout the country.