Philippine Prudential not related to Prudentialife

MANILA, Philippines - The Philippine Prudential Life Insurance Co. Inc. is assuring its policyholders and the general public that it has no filial or business relationship whatsoever with Prudentialife Plans Inc. (PPI), a pre-need company which deals in pension, education and memorial plans. 

This is in response to customer and public concern following news reports that the liquidation of pre-need firm Prudentialife Plans will soon push through. 

Philippine Prudential remains stable, financially strong and capable of meeting all of its obligations as a duly-licensed life insurance company by the Insurance Commission. 

As of end December 2011, total assets stood at over P833 million. 

Total amount of claims paid is over P135 million for the year while the legal policy reserves, the funds invested for future claims, is recorded at over P405 million. 

Total investments are at over P439 million.It is ranked with the top 15 among all life insurance companies in the country, and the top five among all Filipino-owned life insurance companies. 

Philippine Prudential president and chief executive officer Gregorio D. Mercado said in a statement that the life insurer is financially sound. 

“Our valued policyholders can be assured that their interests are protected with the company’s financial strength and business expertise. 

Philippine Prudential continues to be an industry leader in innovation and growth in the life insurance industry in the country. 

It is a reputable 100-percent Filipino-owned financial services company committed to providing the best financial advice and diversified and affordable products – such as endowment plans, whole life plans, group and permanent plans, healthcare coverage, educational and pension policies and Credit Life Insurance – to its valued clients through its multiple and accessible distribution channels, through a nationwide sales office network manned by over 1,200 sales agents and employees.