|
By Likha C. Cuevas-Miel, Reporter
Sales of pre-need products for the month of
February slightly dropped on year but experienced a single-digit
up-tick month-on-month, the Securities and Exchange Commission said
Friday.
Data from the regulator showed that sales across
all pre-need products dropped by 8.78 percent to 17,939 from a year
ago but went up by 9.33 percent compared with January levels.
Educational pre-need sales suffered the biggest decrease at 64.23
percent to 884 from a year ago. The educational pre-need plan was
the only product that experienced a decline of 2.54 percent.
This was followed by pension plans that
experienced a sales dip of 34.24 percent to 4,891 on year, whereas
month-on-month the sector grew by 20.65 percent. Life products
picked up by 24.67 compared with February last year and showed a
6.26-percent growth compared with January this year.
In terms of value, sales went down by almost 16
percent to P1.43 billion, but grew by 30 percent month-on-month as
sales value in all products picked up. Pension plans led the rally
at 52.36 percent. Year-on-year, education plans suffered the biggest
decline at 55.66 percent to P141.75 million followed by pension
plans at 17.28 percent to P837.51 million.
Initial collections for February also slid lower
by as much as 35 percent to P127.65 million compared with last year,
but picked up by 15.74 percent compared with the previous month. The
decline was led by educational plans at 46.46 percent to P14.89
million. Again, the product was the only one that experienced a
decline month-on-month at 11.07 percent.
Compared with last year, pension plans also
declined by almost 41 percent to P81.33 million but grew by 22
percent while sales of life plans inched up by 1.81 percent to
P31.43 million. Month-on-month pension and life plans sales grew by
22.84 percent and 14.97 percent, respectively.
Bulk of the February sales came from life plans,
which shored up 67.81 percent of the total, followed by pension
plans at 27.26 percent and educational plans at barely 5 percent of
the total.
|
