AXA Philippines reported a 56 percent annual increase in total premium income from P7.7 billion to P11.9 billion in the first half of 2015, boosted by the growth in bancassurance business.
“The growth of AXA Philippines has been steady and consistent. We continue to have the right strategies in place to sustain our growth momentum over the next several years,” AXA Philippines President & CEO Rien Hermans said.
Axa continued to be among the fastest growing life insurance companies in the country.
Sales reached over P2.4 billion, a 33 percent increase from P1.8 billion in the same period last year.
Bancassurance sales grew by 36 percent to P1.6 billion in the first half of 2015.
“Bancassurance account for 68 percent of AXA’s sales as Metrobank and PSBank remain to be key channels for insurance products through their nationwide bank branch network,” he said.
AXA’s total funds under management also increased by 25 percent to P73 billion compared to P59 billion in the same period last year.
“We are now on the fast-track towards digitalization, making sure that we are present where our customers are, and that we interact with them in various platforms, whether it be social media, chat, telephone, or finding our agents online,” he said.
“But more than anything, it is our consistent focus on our customers; understanding their needs, their unique situations, and the way they now interact in the world, that is the driving force of our business growth. We are definitely getting ready for the Filipino customer of the future,” he added.