SUN Life of Canada (Philippines) Inc. topped the list of life insurance companies in the country for the third quarter of the year, maintaining its lead in the industry.
A statement issued by the insurer read that Sun Life has secured the spot it consistently held in recent years as its premium income reached P44.73 billion.
The firm said that its steady growth was due to its client-centric approach, the commitment of its advisors and the dedication of its employees.
To meet the changing demands of Filipino families in a financial landscape that is becoming more dynamic, Sun Life Philippines said it continues to grow the range of products it offers and improve its services.
According to Sun Life, it remains ‘committed’ to its long-term strategy of sustainable growth and leaving a positive impact on the communities it serves.
The company added that it is dedicated to maintaining its leadership position while continuing to innovate and adapt to the shifting needs of its clients and the Philippine market.
Data from the Insurance Commission showed Sun Life Philippines booked a net income of P10.679 billion as of the end of December 2024, the highest among 31 life insurance companies.
Its net worth stood at P51.551 billion during the same period, while its paid-up capital amounted to P500 million.
Sun Life Philippines’s new business annual premium equivalent (the universally-accepted performance metric for evaluating sales within the life insurance industry in the Philippines) reached P8.956 billion.
‘At Sun Life, our commitment goes beyond providing financial solutions,’ Sun Life Philippines CEO Benedict C. Sison was quoted as saying in the statement.
‘As we celebrate our 130th anniversary, we strive to be the Filipinos’ Partner for Life in their journey towards brighter futures. We will continue to innovate and deliver services that empower them to achieve their goals and dreams,’ Sison added.