Sun Life Grepa Financial, Inc. (Sun Life Grepa), a joint venture between Sun Life Philippines and the Yuchengco Group of Companies, is included in the Insurance Commission’s (IC) top ten list of life insurance companies in the country for year 2020 in terms of Net Income, Net Worth, Total Assets and Invested Assets.
The company scored an eighth place rank in Net Income based on quarterly reports submitted to the IC. Sun Life Grepa generated Php958.09 million net income which represents a 13% increase from the company’s net income in 2019.
The company also ranked ninth in Net Worth with Php 4.22 billion compared to its tenth place ranking in 2019. Sun Life Grepa also ranked tenth in Total Assets and Invested Assets with Php 48.6 billion and Php48.7 billion, respectively.
“Despite the challenging economic conditions created by COVID-19, Sun Life Grepa demonstrated a strong and robust financial performance in 2020. This achievement is a testament of our company’s resilience, agility and tenacity, creating greater stability to our overall business,” Sun Life Grepa President Richard S. Lim said.
Aside from posting healthy financial gains, Sun Life Grepa reached 2.9 million clients in early 2020, exceeding its five-year target of 2.5 million lives which it set out to achieve by end of 2020.
“Whatever the future may bring, Sun Life Grepa will continue to evolve beyond the boundaries of the financial industry and become a stronger and more stable organization you can always rely on. Our mission to help every Filipino achieve lifetime financial security and live healthier lives remains constant and unchanged. We will work diligently and focus on forward-looking efforts and initiatives in 2021, and the years to come as we continue to become your partner beyond a lifetime,” Lim added.