insular life

Topics: Corporate governance, Balance sheet, Board of directors Pages: 605 (67266 words) Published: October 4, 2014
Net Income (in billion pesos)

Revenues (in billion pesos)

Consolidated
Financial Highlights
P19.3
P18.1

P15.2

P15.6

P12.6

Reporting Cycle and Boundary
This report comes out annually and covers the performances of The Insular Life Group of Companies which is comprised of parent company, The Insular Life Assurance Company, Ltd., its subsidiaries (Insular Health Care, Inc., Insular Investment Corporation, and Home Credit Mutual Building & Loan Association), and affiliate (Mapfre Insular Insurance Corporation). Data were consolidated from our Insular Life Head Office, as well as from our nationwide offices and subsidiaries.

P2.9

P3.2

P2.6

P2.4

P2.1

P89.6
P80.5

Data Collection and Validation
In order to obtain the relevant data for this report, consultations were made with our business units on the financial, social, and operational topics that they deem most relevant to our business as an insurance company. Meanwhile, we engaged the services of SGV & Co. to audit our financial reports for the parent company, Insular Life, and the consolidated report of the Insular Group of Companies. Data are validated and processed by our Public Relations Staff. We have developed a basic reporting protocol and defined the requests for specific data in our collection tool to align the understanding of what data are required from our offices. Reporting Criteria

Our goal is to eventually adopt the Sustainability Reporting Guidelines and the Financial Sector Supplement of the Global Reporting Initiative (www.globalreporting.org). We will continue to closely track our sustainability performance and lay the groundwork for seeking independent assurance in the near future to be aligned with global best practices on sustainability reporting.

Feedback
We welcome feedback from our stakeholders to improve our reporting process. Please email the Public Relations Staff at mdsantos@insular.com.ph.

P72.0
P63.3

For other information, please contact:

Assets

(in billion pesos)

Content
This Insular Life Consolidated 2013 Annual Report gives an update on the progress and priorities set out in our previous report in 2012. It contains data and information on various aspects of our business and operations. Our intention is to provide a holistic view of our financial, operational, social responsibility, and governance performance.

Audience
This report aims to address the information needs of our policyholders and other stakeholders with an interest in both our financial and non-financial performance.

P94.8

Members’ Equity (in billion pesos)

ABOUT THE REPORT

Atty. Renato S. De Jesus
Corporate Secretary
Insular Life Corporate Centre
Insular Life Drive
Filinvest Corporate City
Alabang, 1781 Muntinlupa City
Email: rsdejesus@insular.com.ph

P23.2

Ms. Ana Maria R. Soriano
Senior Assistant Vice President
Public Relations Staff
Insular Life Corporate Centre
Insular Life Drive
Filinvest Corporate City
Alabang, 1781 Muntinlupa City
Email: arsoriano@insular.com.ph

P22.7

P20.7
P17.2
P14.0

On the cover: Enrico L. Cordoba and Lance Emeric T. Cordoba
Magazine breaker: Vanessa U. De Guzman and Ronald Joseph T. Lantin Concept and Design: Kestrel IMC • Content: Writers Edge, Inc. Main Photography: Christian Halili and Richard Tomas N. Perez • Printer: Dolmar Press, Inc. All Rights Reserved © 2014, The Insular Life Assurance Company, Ltd. This annual report, except the financial statements section, is printed on Forest Stewardship Council-certified paper stocks.

2

Financial Highlights: 2013 Insular Annual Report

table of

Contents
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34
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40
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51
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54
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56
58
60
133
134
136

Five-Year Financial Highlights

(Consolidated and Parent Company)

20 A ting of the past, present and Future

Message to Policyholders
Corporate Governance
Performance Highlights of Subsidiaries
and Affiliate
Being a Top...
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