SLFPI nears top spot

Sun Life Financial Plans Inc. (SLFPI) reportedly has control of 30-percent market share in the country’s pre-need industry end July this year. Thus its hold as the second best performer in the industry remains strong and "within striking distance from the top post that is presently occupied by Prudential Life, which has a share of almost 35 percent."

In a press statement, SLFPI reported that its year-to-date sales in terms of Initial Cash Brought In (ICBI) was over P420 million. The ICBI, or the first premium payment, is the industry’s most relevant indicator of sales growth.

Sun Life Financial-Philippines (SLF) president and chief executive officer Lorenzo V. Tan said that the pre-need company’s performance reflects its five-year target of being number one. SLF is the parent company of SLFPI.

In fact, Tan said that SLF target is to achieve top spot in their respective business categories within the next five years. "The way our pre-need business is growing, we might get to our goal earlier than scheduled," he said in a statement.

SLFPI’s exceptional performance is credited to its "highly successful marketing campaign that effectively supported the company’s traditionally strong sales force."

The Sun Life Financial group of companies is a leading international financial services organization providing a diverse range of wealth accumulation, protection products and services to individuals and corporate customers. As of March 31, 2006, the Sun Life Financial group of companies had total assets under management in excess of C$400 billion.