British life insurer Pru Life UK recently signed the Integrity Initiative, a multi sector, global advocacy that promotes ethical and transparent business practices, good corporate governance and the creation of fair market conditions.
"Pru Life UK has always been an organization that follows the highest standards of doing business. We follow not only local rules and regulations, but also adhere to the business principles laid out by our parent company in the United Kingdom, Prudential pic. As a life insurance company offering financial protection to our customers, we make sure that our operations are run with utmost prudence, with long term stability in mind," said Pru Life UK president and CEO Antonio Manuel de Rosas.
By signing the Integrity Pledge, Pru Life UK commits to zero tolerance to corruption. It also bats for paying fair taxes, respecting the environment, following labor laws and favoring long term sustainable development over short term gains.
In 2010, Pru Life UK's new business sales grew 109% year-on-year, according to results published by Prudential pic. Across
the Asia region, Prudential pic announced 24% growth in new business sales for the year, with the Philippine business delivering the highest growth as a percentage.
Pru Life UK joins more than 300 Philippine companies that signed up to the Integrity Initiative led by the European Chamber of Commerce of the Philippines (ECCP) and the Makati Business Club (MBC).
The initiative is likewise supported by Financial Executives of the Philippines (FINEX), the Management Association of the Philippines, American Chamber of Commerce of the Philippines, and the Asian Institute of Management. Pru Life UK is both a member of ECCP and FINEX. The local ECCP-MBC initiative is supported by Siemens AG's global Integrity Initiative launched in December 2010.
Source: Philippine Graphic; News; 20 May 2011