Pru Life UK backs DOF reforms to widen access to life insurance

(From left to right) Princess Balingit, Pru Life UK Chief Investment Officer; Francis Ortega, Pru Life UK Financial Consultant; Sanjay Chakrabarty, Pru Life UK President and Chief Executive Officer; Department of Finance (DOF) Secretary Frederick Go; Beth Villahermosa, Pru Life UK Chief Actuary; DOF Assistant Secretary Kristine Joy Diaz-Teston; and Atty. Calvin Kohchet-Chua, Pru Life UK Chief Legal and Government Relations Officer

With more Filipino families looking for stronger financial security in an ever-changing economic situation, Pru Life UK met with the Department of Finance (DOF) to advance policy debates that support a more resilient, inclusive, and sustainable life insurance sector.

During the courtesy meeting with DOF Secretary Frederick Go and Assistant Secretary Kristine Joy Diaz-Teston, Pru Life UK executives, led by President and CEO Sanjay Chakrabarty, discussed targeted regulatory reforms that can strengthen the industry while improving access and customer experience for Filipinos.

The debate reflects common goals for financial inclusion and economic resilience. It emphasizes Pru Life UK's role as a dedicated public-private partnership in advancing national development goals and ensuring long-term household stability.

During the meeting, key policy areas discussed included:

• Making it easier for banks to offer life insurance and related products, improving customer experience and widening access
• Reviewing life insurance tax rules to help keep protection affordable and support long-term financial security
• Updating investment rules under the Insurance Code to strengthen industry stability and support sustainable long-term returns

These reforms have the potential to widen insurance coverage, increase consumer protection, and enable the life insurance sector to make a more meaningful contribution to inclusive economic growth, thereby benefiting families, communities, and national development.

“Our engagement with the Department of Finance reflects our shared goal of making long-term financial protection more accessible to more Filipinos, while ensuring the life insurance sector remains strong, stable, and sustainable. We look forward to continued collaboration and policy dialogue that supports responsible growth, strengthens consumer outcomes, and advances a more resilient and inclusive insurance landscape for the Philippines.” ~Sanjay Chakrabarty, President and Chief Executive Officer

Pru Life UK remains dedicated to working with the government and regulators to achieve reforms that Filipinos can rely on to improve experience, strengthen industry foundations, and support larger initiatives to build a more financially secure and resilient Philippines.

About Pru Life UK

Pru Life UK is the leading life insurer in the Philippines demonstrating its commitment to protect Filipinos’ financial future and well-being for every life, for every future.  

 

Established in 1996, Pru Life UK operates in over 200 branches and general agency offices in the Philippines, and holds the largest life insurance agency force of close to 38,000 licensed agents. 

  

Pru Life UK offers a wide range of tailored solutions that address the unique and evolving needs across demographics and life stages. These include life protection, health, accident and disability, and investment-linked insurance.   

Currently, Pru Life UK serves over 930,000 individual policyholders and more than 85,000 insured group members, and ranks first in New Business Annual Premium Equivalent* as of Q3 2025, according to the Insurance Commission.   

Pru Life UK is a subsidiary of Prudential plc, with a legacy of more than 175 –years of safeguarding the future of millions of families for this generation and generations to come.   

Pru Life UK is headquartered in 9/F Uptown Place Tower 1,1 East 11th Drive, Uptown Bonifacio, Taguig City 1634, Metro Manila, Philippines. Its main customer center is located in G/F Cluster 2, Uptown Parade, Megaworld Blvd. corner 36th street Uptown Bonifacio, Taguig City 1634, Metro Manila, Philippines. Its customer center contact details are: +63 (2) 88875433 (within Metro Manila) and 1-800-107785465 (for domestic toll-free via PLDT landline), email: contact.us@prulifeuk.com.ph. 

The PRU customer center processes customer concerns based on applicable timelines provided by the law. Visit www.prulifeuk.com.ph/en/contact-us/ for the list of its branches and more information. 

Pru Life UK is legally permitted to provide financial products or services in the Philippines as regulated by the Insurance Commission. 

The Insurance Commission’s head office is located in 1071 United Nations Avenue Ermita, Manila, Philippines. Their Cebu District office is located at Unit 17, Ground and Second Floors, The Gallery, Pope John Paul II Avenue, Barangay Kasambagan, Cebu City, while their Davao District office is in Door 2 & 3, 3rd Floor of YAP Building Quimpo Boulevard, Ecoland, Davao City. Visit www.insurance.gov.ph/contact-us/ for more information.