Sun Life keeps top spot

FOR THE fifth straight year, Sun Life of Canada (Philippines) Inc. was named the leading insurance company in the Philippines based on premium income.

According to unaudited quarterly statistics culled by the Insurance Commission, Sun Life posted a premium income of P32.8 billion last year, up from P 30.7 billion the previous year.  Combined with Sun Life Grepa Financial Inc., the Sun Life group in the Philippines made close to P43 billion premium income in 2015.

In terms of new business measured in weighted first year premium (WFYP), Sun Life grew its business by close to 17 percent to P6.04 billion, while Sun Life Grepa expanded by 46 percent to P1.61 billion.

Sun Life Philippines attributed the growth achieved in 2015 to the rollout of new products, aggressive expansion programs, effective branding campaigns, intensive agency recruitment and heightened operational efficiencies.

“Sun Life Philippines had a banner year in 2015,” said Kevin Strain, president of Sun Life Financial Asia.  Doris Dumlao-Abadilla