About Town | Sun Life remains number 1 in Life Insurance Sector
Sun Life of
Canada (Philippines), Inc. remained the No. 1 life insurance company in
the Philippines in 2019, retaining the top spot for the ninth consecutive
year.
In the Insurance
Commission’s statement on the ranking of life insurance companies, Sun Life
ranked first with a Total Premium of Php 39.5 Billion. It also ranked
first in New Business Annualized Premium Equivalent (NBAPE) which stood
at Php 9.6 Billion, leading in this category for the 11th
straight year. Sun Life also topped the industry last year in terms of Net
Income with Php 8.2 Billion, while its Total Assets reached Php 254.5 Billion.
“This is a
wonderful milestone to commemorate Sun Life’s 125th anniversary
with,” SLOCPI President Alex Narciso said. “We are even more inspired to stay
faithful to our purpose of helping Filipinos achieve lifetime financial
security and live healthier lives. Together with our advisors and employees, we
thank the clients who have trusted us all these years, and reiterate our
promise of a lifetime partnership with them.”
Steadfast Amidst
the Pandemic
This year, as
part of its commitment to serve the Filipinos, Sun Life is accelerating its
digital capabilities. The company recently launched a digitally-enabled sales
process that will allow Filipinos to stay financially protected from the safety
of their own home during the COVID-19 pandemic. Through this process, clients
can connect virtually to get professional financial advice from Sun Life
advisors, and side by side, they can learn about the insurance products that
fit their needs and avail of these solutions. Anyone seeking a Sun Life advisor
simply needs to go to advisormatch.sunlife.com to receive a free consultation.
Sun Life has also
made sure that its clients have all the support they need to stay financially
protected at this time. It has extended premium due dates and enabled remote
transactions to ensure its clients’ policies remain in force and on track. “We
have regular financial planning webinars and have kept communication lines open
to provide our clients with information and guidance during these uncertain
times,” says Narciso. Given the relaxed quarantine measures in certain areas,
Sun Life has also started re-opening Client Service Centers (CSCs) to increase
accessibility to its clients, while ensuring that safety measures are observed
for the protection of all.
To the Next 125
Years
According to Sun
Life Philippines CEO & Country Head Benedict Sison, “More than ever, we
look forward to serving Filipinos as the country prepares to rise above the
COVID-19 pandemic. Sun Life has been the Filipinos’ partner for the past 125
years and we have seen how they have emerged from every crisis. We are
confident that the Filipinos will once again prevail over this current
challenge and we promise to be with them every step of the way, providing them
with lifetime financial security and helping them live healthier lives.”
Sun Life Asia President Léo Grépin
highlighted that the milestone affirms the strong partnership between Filipinos
and Sun Life. “Our clients’ continued trust is the best barometer of our
success. We have built that trust over 125 years by always delivering on our
promises and being there to help in the moments that matter most. We stand
ready to help them through this crisis and beyond,” he said.
Sun Life Global President and CEO Dean
Connor congratulated Sun Life Philippines and expressed confidence that the
organization will continue to be there for clients and fulfill its obligations,
especially during challenging times. “We have a long history of being there for
our clients in the Philippines and helping them navigate through uncertain
times,” said Connor. “With the COVID-19 pandemic underscoring the importance of
staying financially protected, we are even more motivated to fulfill our
purpose and help Filipinos achieve a brighter life and future.”
About
Sun Life
Sun Life is a leading international
financial services organization providing insurance, wealth and asset
management solutions to individual and corporate Clients. Sun Life has
operations in a number of markets worldwide, including Canada, the United States,
the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia,
India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of March
31, 2020, Sun Life had total assets under management of $1,023 billion. For
more information, please visit www.sunlife.com.
Sun Life Financial Inc. trades on the
Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the
ticker symbol SLF.
Note
to editors: All figures in Canadian dollars.
