Company

The Philippine Prudential Life Insurance Company, Inc. (PPLIC) is a leader in innovation and growth in the life insurance industry in the country.  It was founded on February 18, 1963 by the late businessman and philanthropist, Daniel L. Mercado, Sr. Its first set of Board Members were Justice Roman Ozaeta, Hon. Constancio E. Castañeda, Ms. Teodora U. De Mesa, Hon. Brigido R. Valencia, Mr. Sergio Corpus, Mr. Sixto L. Orosa, Jr., Mr. Ignacio Jao-Tayag, Mr. Andres Pascual, Justice Pompeyo Diaz, Mr. Eugenio Unson and Mr. Aniceto M. Guevarra.

The Company is now run by Mr. Mercado, Sr.’s grandson, Gregorio D. Mercado, as its President and Chief Executive Officer.  Known in the industry as “George,” Mr. Mercado is the past president (2008) of the Philippine Life Insurance Association (PLIA), the organization of all life insurance companies in the Philippines, and is currently the President of the Insurance Institute for Asia and the Pacific (IIAP).  The Chairmanship of PPLIC is now held by the founder’s son and former Company President, Daniel M. Mercado, Jr. The Company’s Home Office is at the Third and Fifth Floors of the AIC Burgundy Empire Tower, ADB Avenue Corner Garnett and Sapphire Roads, Ortigas Center, Pasig City, with Trunkline Number (02) 902-2330.  Its Sales & Marketing Office is at the Fourth Floor of the Equitable Bank Tower along Paseo De Roxas in Makati City, with Contact Number (02) 755-1539.

PPLIC is a reputable 100% 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, education and pension policies and Credit Life Insurance — to its valued clients through its multiple and accessible distribution channels.

Now on its way to celebrating 48 years of sterling, trustworthy and continuous service, PPLIC continues to serve the best interests of its more than 1.5 Million Policyholders and their families, with over Php 57 Billion Business-In-Force.  Despite recent worldwide business challenges, the Company, through its prudent management, continues to enjoy solid financial standing.  As of December 31, 2009, it has Total Assets of over Php 681 Million, which represents a 16.2% growth over the previous year or a tremendous 272 % growth over a span of five years.  Total Equity is at over Php 228.9 Million, from merely Php 119 Million in 2006, or a five-year growth of 92%.  Net Income is recorded at over Php 23.86 Million, or a 496 % growth over five years.  Its Total Premium Income is recorded at over Php 890.89 Million, a 31% growth over previous year or a 516% growth since 2006.  Total amount of Claims paid is over Php 88.47 Million for the year, while the Legal Policy Reserves, the funds invested to be used for future claims, is recorded at over Php 351 Million, or an increase of Php 69 Million from previous year.  Total Investments are at over Php 351.47 Million.

As an industry innovator, PPLIC pioneered in Mortgage Redemption Insurance, now known as Credit Life Insurance, where the face amount matches the loan balance of a bank borrower at any given time and is designed so that the loan will be paid off in full in the event of death of the Insured/Borrower.  It also pioneered in organizing groups of life insurance companies as a pool to handle a program of protection for select customers.  It was also among the first life insurance companies to computerize operations.

As a proponent of industry cooperation, PPLIC organized a group of insurance companies in 1990 to come up with a life and accident insurance program for security guards known as the “Blue Guards,” which exists even to this day.  A year later, it led 16 life insurance companies to provide the government-mandated life and accident insurance program to Overseas Contract Workers.  Among the latest programs was the Group Insurance Plan covering borrowers of the Land Bank of the Philippines under the bank’s EasyHome Lending Program.  PPLIC was the lead company in this large life insurance contract, a testimony to the benefits of cooperation in a highly competitive environment.

Over the years, PPLIC continues to adhere to its pro-active and people-oriented policies as it grows in reputation and stature.  In 2009, it was feted with the prestigious Superbrands Status, making it the only life insurance company to be given this distinction for the 2009-2010 awarding period.

As a responsible Corporate Citizen, PPLIC is actively involved in worthwhile advocacy programs, such as Gawad Kalinga and the Kariton Klassrum project of Kuya Efren Peñaflorida.

Distribution remains to be a core strength, as the Company constantly invests in its agency force, now numbering over 1,200, and in putting up sales offices to extend services in key cities nationwide.  Its six Distribution Channels — Traditional Individual, Group Marketing, Direct Marketing, Retail Marketing, Telemarketing and Alternative Marketing — are fully committed and dedicated to helping Filipinos everywhere live a more secured life.