Cocolife's Premium Income Totaled P6.8 Billion

Financial Highlights


In 2016, Premium Income or income exclusively from business operations totaled PhP6.8 billion, registering a robust 17% growth rate. It was a banner year for the company, having achieved the highest premium income level in its 38-year history. Investment income was also slightly higher than last year despite the persistent volatility in the stock market. Expenses were prudently administered, with the yearend figures approximating the budgeted provisions. The resulting net income was accordingly a new record-high, at PhP570 Million, with a growth rate of 13%.


Table 1: 2016 Performance Versus Previous Year’s Level


(P in Millions)



Growth Rate

Premium Income

P 6,793.45

P 5,801.90

17.1 %

Investment Income



2.1 %

Net Income



12.8 %


Table 2: 2016 Expenses Versus Annual Budget


(P in Millions)

2016 Actual

2016 Budget


Selling Expense

P 1,875.29


28.3 %

Policy Costs



- 22.8 %

General & Admin Exp.



- 6.4 %

Prov. for Income Tax



47.1 %




- 2.5 %


Table 3: Four-Year Historical Performance


(P in Millions)





Compounded Annual GR

Premium Income






Investment Income






Net Income








Marketing Initiatives


1. Group Marketing – Industry-wide reputation for highly customized packages and prompt claims processing with personalized servicing has put Group Marketing Division as the perennial number one Group Insurance and Micro-insurance provider in the entire industry. It continued to close big corporate accounts as well as SMEs and has also continually expanded the Migrant Workers Insurance Program, in tandem with UCPB Gen. It managed to end the year with PhP1.95 billion, an exemplary performance by any measure.


2. Healthcare – Despite the continuing price war and cutthroat competition in its industry, Cocolife Healthcare ended the year with a Total Premium Income of PhP2.03 billion, a strong 21% growth. It continued to reinforce its direct business unit and actively tapped the agency network as a distribution arm. Cocolife Healthcare’s main draws are still its reputation for prompt payment, highly customized plans and 24/7 servicing, delivered through one of the industry’s largest service provider networks.


3. Individual Marketing – In 2016, IMD’s level growth was due mainly to a continuing manpower clean-up and the shift to Variable Life from traditional products. This resulted in a slight dip in the sale of traditional plans and a significant growth in VL (12.8%), as the agents transitioned. During the year training modules were directed to the marketing of VL in different markets and multifarious needs. An activation program for new agents was likewise initiated and foreign travel contests and drives were launched to boost recruitment and sales activities.


4. Alternative Distribution Channels – ADC is an umbrella group comprised of Promo Sales, Bancassurance and Mass Marketing. In 2016, the combined new business brought in by the team breached the 2 billion mark, at P2.11B, which is a growth spurt of 60% over the previous year.


a. Promo Sales - Promo operations have been put up in 28 major malls sites nationwide, bringing in an average of P41M a month in new business.


b. DepEd Teachers Insurance and Loan Program – The DepEd market overseen by the Mass Marketing unit, currently generates an average of P11M in premiums monthly, apart from the loan business of more than P2.4 billion, extended to over 26 thousand teachers.



Table 4: 2016 Total Premiums by SBU Versus Previous Year’s Level





Growth Rate

Group Marketing








Individual Marketing




Alternative Dist. Channels     










Other Initiatives


1. Finance – Comprehensive market monitoring, continual streamlining of procedures and realignment of organizational groupings were the key initiatives in maximizing investment opportunities and improving accounts management. The company’s Investment Group was recently awarded by the Association of Mutual Funds for outstanding performance for their Cocolife Fixed Income Fund and Cocolife Dollar Builder Fund.


2. Other Programs – Major backroom activities that were continually reinforced were the ISO Quality Management System accreditation, various business conservation programs, and IT systems and telecommunications upgrading. Social responsibility initiatives have also been pursued, such as medical missions by the Healthcare team, Red Cross blood donation, and the continuing scholarship program for the children of coconut farmers sponsored through the UCPB-CIIF group Foundation.


  • Ride or Fly and Tablets Galore Promo

    Friday, April 20, 2018

    Ride or Fly and Tablets Galore Promo

    Get a chance to win an all-expense paid trip to Singapore or a brand new Kawasaki motorcycle!

  • Cocolife 7th Colors of Life Students Visual Arts Competition

    Friday, July 28, 2017

    Cocolife 7th Colors of Life Students Visual Arts Competition

    Cocolife, the biggest Filipino-owned stock life insurance company, invites all young talented artists to join in the 7th Colors of Life Students Visual Arts Competition.


    This year's theme is "Love Life".


    Cocolife aspires to recognize love as a multidimentsional concept that cen be seen in different angles in life. It also aims to promote the awareness, idealsm qualities, and roles of embracing life with love.


    Participants are encouraged to interpret what they love the most about life through an artistic, fun, and creative manner of painting.


    Students have the creative freedom to choose the medium in which they wish to participate. Deadline for the submission of entries is on September 22, 2017.


    Click here to download the Cocolife 7th Colors of Life Poster (Mechanics).


    Click here to download the Cocolife 7th Colors of Life Entry Form (18 and above).


    Click here to download the Cocolife 7th Colors of Life Entry Form (Below 18).


    Click here to download the Cocolife 7th Colors of Life Proof of Entry.


    Entries may be submitted to any Cocolife Branches nationwide.


    Click here to view our branch directory.


    Click here to download our branch directory.


    Should you have other concerns, please feel free to contact any Marketing Planning Personnel at 812-9015, locals 160 and 259. Or email us at


    Like our Colors of Life Facebook page!

  • Cocolife  Releases Future Savings Claims Payment

    Wednesday, July 26, 2017

    Cocolife Releases Future Savings Claims Payment

    Cocolife, the biggest Filipino-owned stock life insurance company, fulfilled its abiding mission of providing comprehensive insurance protection to its valued clients as the Company released claims payment to the beneficiaries of a Cocolife Future Savings policyholder.


    Cocolife SM City Lipa branch recently released the claims benefits to the beneficiaries of the late Cherry Palmas, who succumbed to pancreatic cancer.  Ms. Palmas availed of a Cocolife Future Savings policy in 2013 as she wanted to secure a better future for her family. She is survived by her husband, Enrico and their four children.  Mr. Palmas shared that his wife is a believer in the importance of having a life insurance, thus, she availed of the Future Savings policy through one of Cocolife’s conveniently-located mall branches. Cocolife Future Savings is a special financial product that provides life insurance protection plus guaranteed cash bonuses.  With its optimum insurance protection, loved ones are spared from financial burden in the event of sudden loss.


    In 2016, Cocolife released over P2.3 Billion to its policyholders, a 25 percent increase over its P1.9 Billion claims payout in 2015.


    Cocolife Alternative Distribution Channel’s Senior Manager for Promo Sales Operation Edel Gregorio, Client Relations Manager Teresa Bose together with Agency Sales Director Guia Salvador personally turned over the claims benefit to Ms. Palmas’ husband, Enrico Palmas.