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MANILA, Philippines -- Insurer Generali Pilipinas (GP) posted a 57-percent hike or P1.17 billion in total premiums in April. Revenue rose 31.0 percent or P830 million from its life business and while its property and casualty business jumped 211.0 percent or P336 million.

Exceptionally noteworthy was GP's Development Underwriters (DU) which realized a three-digit growth rate. DU was up 667 percent or P205 million.

GP's BancAssurance channel premiums also rose to P581 million from P436 million last year. Its brokers and corporate clients channel rose 31 percent or P269 million.

Its agency channel rose to P111 million from P75 million in April 2007.

"We are happy with the accomplishment of the Generali Pilipinas team. We look forward to better, bigger, and bolder figures as we vie to be among the top five companies in the life insurance sector and among the top 10 in the property and casualty insurance sector," said senior executive vice president and chief operations officer Sharon B. Maranan.

Recently, GP appointed First Future Sense Insurance Agency (FFSIA) as one of its life general agents.

"With GP, we are confident that we can achieve our P15-million target by the end of 2008," said FFSIA president Aurora G. Aragon.

GP products and services include life insurance, auto and home insurance, small and medium business protection, employee benefit plans as well as commercial property insurance. It has offices in Metro Manila, Bacolod, Baguio, Cebu, Davao and other major cities throughout the country.

• Empire East eyes lands for mid-market housing
• Rehab, reforms work their magic on PNB
• EDC gets $16-M drilling contract in PNG

• China wants new global monetary system
• Solons caution gov’t on privatization