Sun Life revenues up 16% to P11.6B in 1st 9 months

Sun Life Financial Philippines reported total consolidated revenues of P11.6 billion in the first nine months of 2006, roughly 16 percent higher than the P10- billion level in the same period last year.

All three business lines – pre-need, mutual funds and life insurance – reported gains with the pre-need subsidiary posting a 132-percent gain in revenues.

Sun Life Financial Plans Inc. (SLFPI) posted P1 billion in total installment revenue, more than doubled from the previous year.

Trust fund contributions or reserves set aside for claims was pegged at P759.4 million, up 136 Percent from a year earlier.

SLFPI consistently maintained its lead in terms of domestic market share, retaining the number one position for the period covering January to August this year with a 25 percent market share.

Sun Life Asset Management Co. Inc (SLAMC reported a 30 percent increase in assets under management (AUM) at P8.7 billion compared to P6.7 billion in same period in 2005.

Fee income stood at P106.4 million, 35 percent higher than last year. The company’s life insurance subsidiary posted a 3.8 percent increase in revenues totaling P10.4 billion as of end-Sept. 2006. Investment income stood at P4.7 billion, up by seven percent over last year while total premium income reached P5.7 billion.

"We will continue to focus on our growth strategies in markets where there are vast opportunities for savings and investments," said SunLife Financial president and chief executive officer Lorenzo V. Tan.

Sun Life Financial Philippines is a member of Canada’s Sun Life Financial group of companies, a leading international financial services organization providing a diverse range of wealth accumulation and protection products and services to individual and corporate customers.

Trust fund contributions or reserves set aside for claims was pegged at P759.4 million, up 136 percent from a year earlier.

SLFPI consistently maintained its lead in terms of domestic market share, retaining the number one position for the period covering January to August this year with a 25 percent market share.

Sun Life Asset Management Co. Inc (SLAMC) reported a 30 percent increase in assets under management (AUM) at P8.7 billion compared to P6.7 billion in same period in 2005.

Fee income stood at P106.4 million, 35 percent higher than last year. The company’s life insurance subsidiary posted a 3.8 percent increase in revenues totaling P10.4 billion as of end-September 2006. Investment income stood at P4.7 billion, up by seven percent over last year while total premium income reached P5.7 billion.

"We will continue to focus on our growth strategies in markets where there are vast opportunities for savings and investments," said SunLife Financial president and chief executive officer Lorenzo V. Tan.

Sun Life Financial Philippines is a member of Canada’s Sun Life Financial group of companies, a leading international financial services organization providing a diverse range of wealth accumulation and protection products and services to individual and corporate customers.