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Philippines
Wednesday, May 29, 2024

Sunlife keeps status as largest PH life insurer

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Sun Life of Canada (Philippines) Inc. said it remains the top life insurance company for 13 consecutive years after garnering P55.79 billion in total premium income in 2023.

It said this was based on the 2023 report by the Insurance Commission which compiled the unaudited quarterly report of life insurance companies in the country.

Sun Life said it also ranked no. 1 in total assets with P306.33 billion and net income with P8.79 billion.

“Being consistently no. 1 means that our clients continue to trust us to help them secure a brighter future for themselves and their loved ones,” Sun Life Philippines chief executive and country head Benedict Sison said.

“It is a privilege to be their chosen partner in their financial journey, and we will continue to honor their confidence by serving them with excellence,” he said.

The milestone comes on the heels of Sun Life’s 129th anniversary, making it the first and longest-standing life insurance company in the Philippines.

The company said it also received accolades from regional award-giving bodies including as one of the Industry Champions of the Year at the Asia Corporate Excellence and Sustainability (ACES) Awards.

It was also bestowed with the Corporate Excellence Award at the Asia Pacific Enterprise Awards (APEA) for demonstrating effective talent mobilization and organizational capability that deliver consistent business results while remaining aligned to the company’s purpose.

“We would not be where we are today if not for the passion and dedication of our advisors and employees,” Sison said.

“We would like to thank them for their commitment to our mission of helping Filipinos achieve lifetime financial security and live healthier lives,” he said.

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