Sun Life Grepa profit rises 17% as sales jump

Net income reached PHP1.6b despite faster expansion in new business volumes

Sun Life Grepa Financial, Inc. (Sun Life Grepa)’s new business annualised premium equivalent (NBAPE) surged 66% year-on-year (YoY) to $0.06b (PHP3.3b) last year.

According to a press release, the growth was “driven by strong performance across both individual and group insurance segments.”

The insurer’s total premium income also climbed 28% YoY to $0.32b (PHP18.6b), whilst net income jumped 17% YoY to $0.03b (PHP1.6b).

“Beyond business growth, Sun Life Grepa sustained its commitment to financial inclusion through collaboration with organisations such as Ahon Sa Hirap (ASHI) and ASA Philippines,” it said.

“These partnerships support underserved communities by promoting financial education and expanding access to insurance protection, helping empower more Filipinos to secure their financial future,” it added.

($1.00 = PHP58.26)