Philippines: Sun Life leads life market in 2017
Source: Asia Insurance Review | May 2018
Sun Life of Canada (Philippines) remains the top life insurance company in the Philippines with premium income of PHP32bn ($616m) in 2017, based on a data released by the Insurance Commission.
Sun Life maintained its leadership for the seventh consecutive year after attaining the highest total premium income in 2017 of PHP32.114bn, 0.7% higher than in 2016, reported Business Mirror.
Sun Life Philippines CEO and country head Rizalina Mantaring said that for 2018, the insurer plans to tap broader markets, launch new products and offer more digital tools while enhancing its client service.
Based on unaudited quarterly statistics submitted by insurers, Philippine AXA Life Insurance ranked second in premium income with PHP26.2bn last year. In third place was BPI Philam Life Assurance Corp with PHP20.3bn. A