By: Doris C. Dumlao
Philippine Daily Inquirer
MANILA, Philippines—The Philippine unit of global insurance giant Sun Life of Canada has bucked the global downturn to grab the top slot in the local insurance industry based on its premium collection in 2011.
Based on its unaudited financial statement, Sun Life of Canada (Philippines) Inc. capped 2011 with gross premiums of P14 billion, or 31 percent higher than the previous year’s level, while net premiums surged by 31 percent to P13.9 billion.
These numbers made Sun Life the No. 1 in the country’s life insurance market, the company reported.
The life insurance business in the country has been dominated for many years by The Philippine American Life and General Insurance Co. (Philam).
