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Allianz PNB Life profit up 47% in Q3
The Philippine Star
|December 28, 2024
Allianz PNB Life, the joint venture between the Philippine National Bank and international insurance provider Allianz, reported a 47-percent jump in earnings in the third quarter of the year.
In a statement, Allianz Asia-Pacific said Allianz PNB Life's significant growth contributed to the upward trajectory of its operations in the region.
Data from the insurance firm showed that Allianz PNB Life registered a net income of P838 million in the third quarter.
In addition, the Philippine unit's gross written premium (GWP) surged by 29 percent to P26.18 billion while new business annual premium equivalent (NBAPE) jumped by 32 percent, totaling P3.3 billion.
"This steady growth reinforced its industry standing, maintaining fourth place in GWP and improving its NBAPE ranking to seventh from eighth," Allianz Asia Pacific said.
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