Sun Life of Canada (Philippines), Inc. recorded ₱28.9 billion in second-quarter premiums, nearly double the previous quarter’s ₱15.1 billion, which the company attributed to its focus on client needs and coordinated efforts across its agency and head office teams.
The performance secured Sun Life’s position as the leading life insurer in the Philippines, according to a statement released on Aug. 22. “This achievement reflects Sun Life’s exceptional performance and its unwavering commitment to delivering quality service and client experience,” the company said.
Benedict Sison, chief executive officer and country head, said client-centered operations allowed premiums to rise despite global uncertainties and technological disruption.
Last June, Sun Life Philippines appointed Jonathan Juan “JJ” Moreno as its president, marking a leadership transition aligned with the company’s strategic plans in Southeast Asia. The company said the move was intended to support operational leadership and further its presence in the regional life insurance market.
The second-quarter results followed Sun Life’s recent awards for innovation. Its Sun Life Secure Income product received the Product Innovation of the Year Award at the Insurance Asia Awards, and the company won a Gold Award for Excellence in Innovation at the HR Excellence Awards. Sison said that these recognitions correspond with the company’s ongoing engagement with its clients.
Industry data from the Insurance Commission (IC) showed life insurance premiums in the Philippines reached ₱195.1 billion in the second quarter of 2025, a 12% increase from ₱174.1 billion during the same period in 2024. Most of these premiums were allocated to variable life policies.
In 2024, Sun Life led the sector with full-year premium income of ₱57.2 billion. This was 18.7% higher than the ₱48.2 billion recorded by Pru Life Insurance Corp. of UK and 43.4% higher than the income of FWD Life Insurance Corp.
Sun Life Financial Inc., the parent company, reported underlying net income of C$1.02 billion (₱41.6B) for the second quarter ended June 30, 2025, up 2% from the same period last year. Reported net income rose 11% to C$716 million (₱29.2B). The underlying return on equity was 17.6%, and reported ROE stood at 12.4%. Assets under management increased 5% year-over-year to C$1.54 trillion (₱61.6T), supported by a US$21 million gain in Group – Health & Protection.
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