(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
Pru Life UK met with the Department of Finance (DOF) to help advance policy debates that enable a more robust, inclusive, and sustainable life insurance business as more Filipino families seek more financial security in the face of a rapidly changing economic scenario.
Pru Life UK executives, led by President and CEO Sanjay Chakrabarty, held a courtesy meeting with DOF Secretary Frederick Go and Assistant Secretary Kristine Joy Diaz-Teston to discuss specific regulatory reforms that can improve access and customer experience for Filipino consumers while strengthening the industry.
The dialogue reflects shared priorities around financial inclusion and economic resilience. It reinforces Pru Life UK’s role as a committed public-private partner in supporting national development goals and long-term household security.
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 can help broaden insurance reach, strengthen consumer protection, and enable the life insurance sector to contribute more meaningfully to inclusive economic growth, supporting 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,” said Chakrabarty. “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.”
Pru Life UK is still dedicated to working with the government and regulators to advance reforms that Filipinos can rely on to enhance the experience, fortify the industry’s foundations, and assist larger initiatives to create a more resilient and financially secure Philippines.
Notes:
*New Business Annual Premium Equivalent (NBAPE) – premium for a new policy paid in a year
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