The Philippine Prudential Life Insurance Company, Inc. (Philippine Prudential) 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 currently a Director (2013) of the Philippine Life Insurance Association (PLIA), the organization of all life insurance companies in the Philippines, and is currently the Vice President of the Insurance Institute for Asia and the Pacific (IIAP). The Chairmanship of Philippine Prudential 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) 755-1550.
The Philippine Prudential Life Insurance Company, Inc. (Philippine Prudential) is a leader in innovation and growth in the life insurance industry in the country. Founded on February 18, 1963 by the late businessman and philanthropist, Daniel L. Mercado, Sr., the Company is now run by his grandson, Gregorio D. Mercado, as its President and Chief Executive Officer. Also known in the industry as “George,” Mr. Mercado is currently a Director (2013) of the Philippine Life Insurance Association (PLIA), where he has been an active member since 1999, and has served as Past President (in 2008 and 2012) and Vice President (in 2011). He is also presently Vice Chairman (2013) of the Insurance Institute for Asia and the Pacific (IIAP), Director of the Pacific Insurance Conference (2013) and Chief Delegate of the East Asian Insurance Congress (2008 to 2010). The Chairmanship of Philippine Prudential is presently held by the founder’s son and former Company President, Daniel M. Mercado, Jr.
Philippine Prudential 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 celebrating 50 years of sterling, trustworthy and continuous service, Philippine Prudential continues to serve the best interests of its more than 1.8 Million Policyholders and their families. The Company is now in the Top 15 among all Life Insurance Companies in the country, and in the Top 5 among all Filipino-owned Life Insurance Companies.
As of December 31, 2012, the Company has over Php 120 Billion Business-In-Force, Total Assets of over Php 833 Million and Total amount of Claims paid of over Php 135 Million for the year. Total Investments are at over Php 439 Million. Its Total Premium Income in 2012 is recorded at Php 1.025 Billion.
Distribution remains to be among its core strengths, as the Company constantly invests in its marketing force, now numbering over 1,200, and in putting up sales offices to extend services in key cities nationwide. Its six Distribution Channels — Group Marketing, Direct Marketing, Retail Marketing, Telemarketing, Alternative Marketing and Agency Marketing (plus a soon-to-launch seventh distribution channel) — are fully committed and dedicated to helping Filipinos everywhere live a more secured life.
As an industry innovator, Philippine Prudential was a pioneer in Mortgage Redemption Insurance, which later evolved into 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.
Philippine Prudential has been awarded the prestigious Superbrands status, making it the only life insurance company to be given this distinction for two consecutive years: for the 2009-2010 awarding period and, again, for the 2011-2012 awarding period. In addition, the Company recently received a special recognition from the Insurance Commission for its valuable contributions and efforts in the field of Microinsurance during its “Gabi ng Parangal at Pasasalamat sa mga Tagapagtaguyod ng Microinsurance.”
For two years now, since 2011, Philippine Prudential has been The Official Life Insurer of the Miss World Philippines Pageant, through its life insurance coverage of the Pageant’s candidates and winners, and in support of the Miss World Philippines Organization’s mission of “Beauty in Giving.”
As a responsible Corporate Citizen, Philippine Prudential continues to be actively involved in worthwhile advocacy programs, such as Gawad Kalinga (through the Company’s GK Village in Caloocan City) and its regular support to the Kariton Klassrum project of CNN Hero of the Year Kuya Efren Peñaflorida.