Sun Life Grepa celebrates 65 years
SUN LIFE Grepa Financial, Inc. (Sun Life Grepa), a major life insurance company in the Philippines, is celebrating its 65th anniversary on a high note as it marks several milestones in line with its mission of providing financial protection solutions to Filipinos.
To begin with, Sun Life Grepa has reached 2.5 million clients, significantly contributing to Sun Life Financial Philippines’ goal of serving 5 million clients by 2020. Meanwhile, the company also increased its total premium income by 21% from its individual and group business, while also growing its agency distribution channel by 33%.
All these resulted from Sun Life Grepa’s efforts to inspire Filipinos to aim for lifetime financial security as well as healthier lives. In fact, this was the rallying theme of the company’s brand campaign dubbed “Build Your Future: Dream It, Live It” which had Judy Ann Santosagoncillo as the brand champion.
“Guided by our vision to become the Filipino’s partner beyond a lifetime, our company shall continue to advocate lifetime financial security and healthier lives to Filipinos,” Richard S. Lim, President of Sun Life Grepa, expressed.
On top of its achievements, Sun Life Grepa remains steadfast with its corporate social responsibility efforts through its “Share the Passion” program, where employees are encouraged to volunteer by helping the homeless as well as participating in blood donation drives at the Arnold Jansen KALINGA Center and the children’s ward of the Philippine General Hospital respectively.
“We are happy to share these developments with our stakeholders,” Lim said. “We continue to find ways to help Filipinos achieve financial freedom and we remain driven by our mission to partner with Filipinos in building their dreams throughout and beyond their lifetime.”
As it welcomes another year, Sun Life Grepa aims to carry on its tradition of innovation through its affinity, agency, bancassurance, and group distribution channels.
Sun Life Grepa was established as the Great Pacific Life Assurance Corporation (Grepalife) in 1954 by the late Ambassador Alfonso T. Yuchencgo, an esteemed diplomat, philanthropist, business titan, and the founder of the Yuchengco Group of Companies.
With the intent to provide for the post-world War Two need to protect the financial future of Filipinos, the company pioneered industry innovations such as the installment payment scheme and the salary deduction plan making life insurance affordable for many Filipinos. Moreover, Grepalife also participated in the introduction of the Variable Universal Life (VUL) insurance on top of being the first insurance company to offer credit life insurance.
In 2011, the Yuchengco Group of Companies partnered with Sun Life Financial Philippines in a joint venture, giving birth to Sun Life Grepa Financial, Inc. (Sun Life Grepa).