What is the best insurance company in the Philippines?

Wondering what the best insurance company in the Philippines is?

The answer depends on your definition of 'best.' You could mean best as in the most successful insurance company in the Philippines, or delivers the greatest customer satisfaction, or provides excellence in a certain part of the insurance industry, such as pensions. Let's assume you mean the most successful insurance company in The Philippines.

The most successful insurance company of The Philippines in 2013 was Sun Life Financial. During that year, Sun Life's total premiums amounted to over 29.6 billion pesos, nearly ten billion pesos greater than their nearest rival, Philam Life. Sun Life achieved this position with high productivity, tripling their number of agents over the previous decade and investing in strong and timely marketing campaigns.

A Brief History of Sun Life of The Philippines

The company was founded in 1895 by Dr. Edward Horsey, who appointed H.J. Andrews and Co. To represent Sun Life Financial in Manila. By 1920, Sun Life had already established itself was one of the main players in the country's growing insurance industry. Business was suspended by the Japanese invasion of the Philippines during the Second World War, but the firm was able to keep going on an 'underground' basis. In the 1970s, Sun Life moved its remaining Hong Kong offices to The Philippines and opened two major new offices in Manila. 

1989 saw the company reach the one billion mark in gross revenue for the first time. The company announced its intention to demutualize in 1998 and launched on the stock market in 2000. By 2005, Sun Life was employing the widest range of funds in the Philippines insurance industry.

This film shows the important of insurance in a country prone to natural disasters as The Philippines: