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Manila Bulletin devider Business devider Banking & Finance devider Sun Life PH maintains market lead in Q2 as premium income nearly doubles

Sun Life PH maintains market lead in Q2 as premium income nearly doubles

Published Aug 22, 2025 12:29 pm  |  Updated Aug 22, 2025 01:01 pm
Sun Life of Canada (Philippines), Inc. maintained its lead in the domestic life insurance industry, posting ₱28.9 billion in premium income in the second quarter of the year.
In a statement, the local unit of Sun Life of Canada, Inc. reported that premium earnings were nearly double the company’s ₱15.1 billion income from the previous quarter, a surge that secured its position as the top performer.
“This achievement reflects Sun Life’s exceptional performance and its unwavering commitment to delivering quality service and client experience,” the company said on Friday, Aug. 22.
The insurer attributed the strong performance to its client focus and the combined efforts of its agency force and head office, which it said “solidified its position as a leader in the life insurance sector.”
Benedict Sison, Sun Life Philippines chief executive officer and country head, stressed that the firm’s client-centered operations allowed premiums to surge despite global uncertainties and “technological disruption.”
Sison assured clients of the company’s commitment to prioritizing their needs, providing innovative solutions, and maintaining a culture of excellence, integrity and care.
The achievement follows Sun Life’s recent back-to-back wins: the Product Innovation of the Year Award for its Sun Life Secure Income offering at the Insurance Asia Awards, and the Gold Award for Excellence in Innovation at the HR Excellence Awards.
Sison said the recognition highlights Sun Life's client-centric approach, adding that the company is grateful for its clients' support and looks forward to continuing its journey with them in the years ahead.
Data from the Insurance Commission (IC) showed life insurance premiums expanded 12 percent to ₱195.1 billion in the second quarter of 2025, from ₱174.1 billion a year ago. The majority of these payments went to variable life policies.
Last year, Sun Life dominated the life insurance industry with a full-year premium income of ₱57.2 billion, which was 18.7 percent higher than the ₱48.2 billion earned by Pru Life Insurance Corp. of UK, and 43.4 percent higher than the income of FWD Life Insurance Corp.

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Sun Life of Canada Sun Life Philippines Insurance Commission (IC)
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