Sun Life still coun­try’s top life in­surer in 2017

Business World - - Banking&finance - Joseph C. Tubayan Eli­jah

SUN Life of Canada (Philip­pines) Inc. was the top life in­surer in 2017 based on premium in­come with P32.11 bil­lion, the In­sur­ance Com­mis­sion (IC) said on Thurs­day.

The IC re­leased the list of top life in­sur­ers in 2017 in terms of net pre­mi­ums, new busi­ness pre­mi­ums, net in­come, as­sets, and net worth based on firms’ au­dited an­nual state­ments.

Philip­pine Axa Life In­sur­ance Corp. was sec­ond, with P26.18 bil­lion in net pre­mi­ums last year.

BPI-Philam Life As­sur­ance Corp. (BPI-Philam) ranked third with P20.33 bil­lion in net pre­mi­ums, fol­lowed by Philip­pine Amer­i­can Life & Gen­eral In­sur­ance Co., (Philam Life) with P19.90 bil­lion, and Pru Life In­sur­ance Corp. of UK (Pru Life UK) with P19.22 bil­lion.

The top five firms kept their 2016 rank­ings. The life in­sur­ance in­dus­try over­all had a com­bined premium in­come of P202.77 bil­lion last year, 10.89% higher than the P182.86 bil­lion recorded in 2016.

In terms of pre­mi­ums from new poli­cies, Sun Life re­mained on top with an­nual new busi­ness pre­mi­ums worth P6.64 bil­lion in 2017, fol­lowed by AXA Philip­pines with P5.36 bil­lion, Pru Life UK with P4.81 bil­lion, Philam Life with P4.17 bil­lion, and BPIPhilam with P3.88 bil­lion. •

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