Press releases
Sun Life Financial Philippines total premiums up to P2.4 Billion in Q1
Sun Life Financial-Philippines’ total premium in the first quarter of this year grew to P2.43 Billion for its life insurance business, up by 8.3% from the previous year’s Q1 level. Total first year (FY) and single payment premiums posted a healthy growth of 38%.Gross sales in its mutual funds business increased by a robust 181%, from the previous year’s
P 142.6 Million to P400.3 Million at quarter end this year. Assets Under Management (AUM) now stands at P15.4 Billion, up by 24% from the previous year’s first quarter haul of P12.4 Billion.
“Our strong first quarter sales are truly encouraging. Aside from the improving economic conditions, we gained headway in many of our initiatives to further fuel growth. Our traditionally strong agency force has certainly sustained the momentum. Their passion to achieve the company’s goal to attain industry leadership has remained undiminished,” enthuses SLFP President & CEO Rizalina Mantaring.
In a statement, the SLFP chief disclosed the company’s five-year plan that will involve bolder efforts to intensify sales for its core business lines.
“We have put in place ambitious sales targets and we are confident that we will attain these targets given the strong momentum during the past year and now. Achieving the goals definitely calls for a two-fold increase in manpower to expand our agency force to some 5,000, as well as to grow our distribution channels in the provinces. SLFP to date has over a million individual and group life policyholders,” Mantaring said.
Mantaring added that there will be more initiatives to strengthen the company’s brand presence nationwide to further propagate the relevance and meaning of financial freedom for every Filipino household.
Sun Life Financial introduced life insurance in the Philippines in 1895 and is a member of the Sun Life Financial group of companies, a leading international financial services organization providing a diverse range of wealth accumulation and protection products and services to individual and corporate customers.
