Danvil Plans, Inc., which acquired the former Berkley International Plans in a management buy-out early this year, recently announced that its Trust Fund has reached the P4 Billion mark. The high point comes at an auspicious time for the company which is marking its 10 th year in the industry and is starting to release benefits to its first wave of claimants from maturing plans. Now owned and headed by its new President, former EVP-Chief Financial Officer, Mr. Daniel Villanueva, the company continues to be at the forefront of sales and marketing in the pre-need industry.
The company’s prudent financial management in the past ten years has enabled it to attract a substantial percentage of the industry pie, placing it consistently among the Top 5 in terms of new business for the educational plan sector. In its 2006 audited financials, the company’s total assets of P5.3 billion showed a significant increase from 2005.
As of end-October, the investment in Trust Fund amounted to P4.01 billion, 67% of which is in long-term government securities, and the rest in cash and equity. This sound financial achievement, only one of many finance-related milestones for which the company has been known through the years, is largely credited with making clients stay put even amidst the initial ambivalence brought about by the buy-out at the beginning of this year. Danvil Holdings, Inc. acquired all of Berkley International Philippines and its affiliates, including marketing arm Family First, Inc.
For
more information, pls. contact:
Ms. Gina D. Cruz
Corporate Communications Director
Tel. No. 755-1500 loc. 1112