For the ninth consecutive year, Sun Life of Canada (Philippines), Inc. (SLOCPI) ranked No. 1 in the Insurance Commission’s list of life insurance companies in the country for 2019. The giant insurer, which is celebrating its 125th year in the country, posted a total annual premium of P39.5 billion.
Sun Life Financial also topped the list of New Business Annualized Premium Equivalent (NBAPE), which stood at P9.6 billion. The company has ruled this category for the 11th consecutive year in 2019. It even bested all other local insurers last year in terms of net income—P8.2 billion, while its total assets reached P254.5 billion.
“This is a wonderful milestone to commemorate Sun Life’s 125th anniversary with,” said SLOCPI President Alex Narciso. “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.”
Sun Life of Canada (Philippines), Inc. President Alex Narciso
Innovative and timely efforts
Sun Life has always been exerting efforts to continuously and innovatively serve Filipinos even in dire times. The insurer is accelerating its digital capabilities during the pandemic. It recently rolled out a digitally-enabled sales process to allow customers to stay financially protected.
Thus, clients can now virtually connect with Sun Life advisors to learn not just about financial management but also about the insurance products that can fit their situation. Free consultation with assigned advisors is facilitated at advisorsmatch.sunlife.com.
Moreover, Sun Life has extended premium due dates and enabled remote transactions amid the community quarantine that started in March. “We have regular financial planning webinars and have kept communication lines open to provide our clients with information and guidance during these uncertain times,” said Narciso.
Client Service Centers have already reopened in areas where quarantine measures have been relaxed. This move further increases accessibility to clients, while safety measures are observed to ensure the overall protection of everyone.
Sun Life Philippines CEO and Country Head Benedict Sison
Barometer of success
“More than ever, we look forward to serving Filipinos as the country prepares to rise above the Covid-19 pandemic,” said Sun Life Philippines CEO and Country Head Benedict Sison. “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 Leo Grepin highlighted that the milestone affirms the strong partnership between Filipinos and Sun Life. “Our clients’ continued trust is the best barometer of our success,” he said. “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 through this crisis and beyond.”
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,” he said. “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.”