Generali notes record bancassurance in first quarter

MANILA, Philippines – The bancassurance channel of Generali Pilipinas has accounted for a record-breaking P422 million in individual life premiums for the first quarter, or 92 percent of the company’s total first quarter premiums.

“This remarkable performance is brought about by BancAssurance’s effective implementation of its strategies, resulting to an increase in market share and growth. In fact, from 168 Financial Advisors (FAs) in September 2008, it is now 250 FAs in just six months.

Equally responsible for the excellent performance is the support of its joint-venture partner and the country’s largest bank, Banco de Oro Unibank Inc. (BDO),” Melvin J. Esteban, bancassurance channel head, said. “In Chinese, the numbers 168 mean road to becoming rich and successful,” Derek Chan, Generali Pilipinas president and chief executive officer added.

Generali Pilipinas is a one-stop-shop insurance needs, including individual life insurance, group life and medical, auto and home insurance, small and medium business protection, as well as commercial property insurance.