Sunlife to invest in infrastructure

MANILA, Philippines — Sun Life of Canada (Philippines) Inc. is looking at investment  opportunities in the infrastructure sector given the administration’s massive Build Build Build program.

In a briefing, SLOCPI president Alexander Narciso said the infrastructure sector is a  perfect match for the life insurance industry since they both involve long-term investments.

“This will be a perfect match for companies like Sunlife and other life insurance companies because we manage long-term money,” he said.

“I think there is a centralized agency in charge of all of these Public-Private Partnership projects. We are in talks with them,” Narciso added.

Meanwhile, Narciso also expressed optimism about the newly-passed Tax Reform for Acceleration and Inclusion (TRAIN).

He said the life insurance industry is expected to benefit from the tax reform program as increased income will allow more Filipinos opportunities to grow their savings.

“One of the aspects of TRAIN is the reduction of income tax for majority of our kababayans and that is positive as far as we are concerned, because that means there’s more disposable income for our kababayans,” Narciso said.

Narciso also shared the company’s 2020 goal of hitting five million clients.

As of the end of 2017, Sun Life was already halfway of its target  with clients hitting 2.8 million.