Published April 24, 2021, 6:30 AM
Sun Life of Canada (Philippines), Inc. retained the number one spot as the country’s top life insurance company, marking its 10th straight year of industry leadership.
Based on the latest report from the Insurance Commission, Sun Life Philippines posted a premium income of P39.27 billion, outperforming its closest contender by P8 billion in total premiums.
Photo credit: https://www.sunlife.com.ph/en/
“We dedicate this milestone to our clients whose trust and support motivated us to keep excelling and innovating,” Alex Narciso, Sun Life Philippines president said in a statement.
“We also share this with our advisors and employees who remained faithful to our mission despite all the challenges we faced last year,” Narciso added.
Published April 21, 2021, 7:00 AM
Changes in spending habits amid the community lockdowns last year have boosted the premium income of life insurance companies, the government regulator said on Tuesday (April 20).
In a statement, Insurance Commissioner Dennis B. Funa said that life insurance industry’s premium income rose by 5.9 percent to P247.72 billion in January to December last year from P233.92 billion a year earlier.
Funa attributed the increase to households new spending habits during the pandemic.
Insurance Commissioner Dennis B. Funa
“It has been observed by the financial sector leaders that generally the savings of the middle-class sector grew due to restraints in consumer spending because of the pandemic,” Funa said.
Published March 16, 2021, 1:39 PM
The memorandum of understanding (MOU) for the Philippines’ participation in the United Kingdom’s Cross-Government Prosperity Fund signed. (From left) Finance Secretary Carlos Dominguez III, British Ambassador Daniel Pruce, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno, Securities and Exchange Commission (SEC) Chairman Emilio Aquino, and Insurance Commissioner Dennis Funa. The BSP, SEC and the Insurance Commission (IC) are co-lead agencies of the Department of Finance (DOF) in the implementation of the work packages under the MOU.
The Philippines and the United Kingdom (UK) have signed a memorandum of understanding (MOU) for Manila’s participation in the Cross-Government Prosperity Fund that aims to support the country’s inclusive and sustainable growth.
PHL share in UK Prosperity Fund to aid in recovery program pia.gov.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pia.gov.ph Daily Mail and Mail on Sunday newspapers.
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THE NUMBER of lives insured by the microinsurance products of mutual benefit associations (MBAs) grew to 26.66 million last year, but total premiums earned declined due to the pandemic, the Microinsurance MBA Association of the Philippines, Inc. (MiMAP) reported on Tuesday.
MiMAPâs 18 MBA members covered 1.723 million more lives with their microinsurance products last year, increasing the sectorâs coverage by 7% from the 24.93 million in 2019, its chairman emeritus Jaime Aristotle B. Alip said during the organizationâs forum on Tuesday.
Premiums written, however, declined by 18% to P3.94 billion in 2020 from P4.81 billion the year prior after several clients found it more difficult to settle their dues during the pandemic, Mr. Alip said.