Sun Life Grepa Financial Inc. (SLGFI) reported significant new business growth in the first half of 2015 on the back of the market’s strong demand for investment-linked financial-protection products.
The company reported a 96-percent year-to-date growth in terms of annualized first-year premiums when compared to the same period last year.
A large portion of the growth was attributed to SLGFI’s solid bancassurance partnership with the Rizal Commercial Banking Corp.
SLGFI’s agency channel also reported significant growth versus the same period in 2014.
“The market is becoming increasingly interested in investment-linked life-insurance products.
We see more people changing their views on the products—that these are primarily designed to optimize the earning potential of their funds and provide life-protection coverage.” said Richard Lim, president of Sun Life Grepa Financial Inc.
“This interest is boosted by the country’s strong economy, which is creating a favorable investment climate,” Lim added.
For the covered period, SLGFI also achieved a significant growth on its regular-pay product lines.
“In the past, the popularity of single-pay investment-linked products overshadowed the option of investing through regular installments,” Lim explained.
“Now, the increased purchases of regular-pay products indicate that people see the value, opportunity and affordability of such an investment style. These developments line up perfectly with our mission of helping safeguard the financial future of as many Filipino families as possible through the widest array of products and services that we could offer,” he added.