INSULAR Life, the largest Filipino life insurance company, said its gross premium income (GPI) from January to October this year reached P6.8 billion up 28 percent from a year earlier.

In a statement, the company said strong demand for the insurance product Wealth Series was responsible for the insurer’s robust sales performance.

Wealth Series sales amounted to P2.4 billion, or three and a half times over sales in the same comparable period.

Chairman and chief executive Vicente R. Ayllon said the policyholders are attracted to the Insular Life Wealth Builder because they get three-fold benefits, namely, life-insurance protection, savings, and investment earnings. Returns on investments have been remarkable.

“Our investment managers made excellent trades and placements, thus delivering high returns to our Wealth Series policyholders. Year-on-year returns for fixed income amounted to 5.5 percent; Balanced Fund returns reached 15.12 percent and equities was 27.68 percent. These rates are way above the returns that one could get from other financial institutions,” he said.

Net investment income inclusive of realized capital gains, was P3 billion. This came from higher interest income on bonds and corporate-term loans, stock dividends, real estate rentals, and gains from trading of securities and real estate.

Last month, Insular Life launched the new Insular Life Visa Credit Card with Union Bank. The card includes exclusive privileges to its policyholders, premium payment convenience, and life style-driven benefits. It also recently launched its US Dollar-denominated investment-linked product, the Dollar Wealth Builder.

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INSULAR Life, the largest Filipino life insurance company, said its gross premium income (GPI) from January to October this year reached P6.8 billion up 28 percent from a year earlier.

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WITH current globalization trend, it is timely to discuss the legal implications foreign equity of a corporation as regards ownership of private lands in our jurisdiction. Section 7, Article XII of the 1987 Constitution provides that save in cases of hereditary succession, no private lands shall be transferred or conveyed except to individuals, corporations, or associations qualified to acquire or hold lands in the public domain.