Philamlife Says It Remains Profitable

Article excerpt

The Philippine American Life and General Insurance Company (Philamlife), the country's leading life insurer, yesterday said it remains very profitable and continues to generate significant new business despite a difficult business environment.

Commenting on business conditions this year, Philamlife President and CEO Jose L. Cuisia, Jr. said: "These have been very challenging times, but we have worked hard to sustain our ability to remain profitable which demonstrates the company's resiliency and strength."

"We owe this success to the loyalty of our customers. A great majority of our customers have stood by us. Our records show that 99.5% are still insured and kept their policies with us since the global crisis happened. This is a strong vote of confidence and trust from our customers, and an affirmation of our reliable track record and market leadership."

Cuisia continues, "We remain focused on customer needs. We recently completed our transition to a line of New Generation products that offer attractive solutions to education, investment, life protection and retirement insurance needs. …