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Press release

March 30, 2023

Sun Life flexes dominance as no.1 life insurer in the Philippines

Sun Life of Canada (Philippines), Inc. once again flexes its dominance in the Philippine life insurance industry by ranking No. 1 in both the Total Premium Income and New Business categories.

According to a report posted by the Insurance Commission (IC) on its website, Sun Life landed on the top spot in terms of Total Premium Income, with earnings reaching more than 52.6 billion as of December 31, 2022. The top position for this category has been held by the company for 12 straight years, proving the stability and solid strength of the organization. 

In parallel results, Sun Life also led in the New Business category by generating more than 9.7 billion worth of new business, eclipsing the figures of the nearest contender within the same period. 

“More than anything, being No. 1 reflects the confidence of our clients who have chosen Sun Life to be their partner in securing their future. We thank them for the privilege,” says Sun Life President Alex Narciso. “Rest assured that we will continue to strive to be worthy of their trust.”

Meanwhile, Sun Life CEO and Country Head Benedict Sison lauded the company’s advisors and employees. “This accomplishment is the result of everyone’s concerted efforts, as we strive to bring our clients a delightful experience throughout their financial journey. This affirms that anchoring ourselves on our clients and our purpose to help them achieve lifetime financial security and live healthier lives will always lead us to great results, and we are inspired to do more,” he said.

Now on its 128th year, Sun Life pioneered life insurance in the Philippines and remains to be the longest-standing insurer in the country. The news about its No. 1 ranking comes on the heels of the announcement by the Trusted Brand Awards that Sun Life has once again earned the Platinum Award in both the Insurance and Investment Fund Company categories.