Pru Life UK solidifies its leadership position as 2023’s top life insurer in the Philippines

The life insurance company's NBAPE amounted to a total of Php 10.54 billion for 2023

Pru Life UK ranks number one in the life insurance industry in the Philippines, garnering the highest New Business Annual Premium Equivalent (NBAPE) as reflected in the recently released Insurance Commission (IC) report as of 31 December 2023.

The report shows that Pru Life UK achieved an impressive NBAPE of Php 10.54 billion for 2023 representing 11% growth. The company broadened the gap with the closest competitor by a margin of Php 472 million. NBAPE serves as the universally accepted performance metric used to assess sales performances of the life insurance industry in the Philippines.

Owing to the company's innovative offerings, Pru Life UK also leads in total premium income from variable life insurance products, amounting to over Php 45.7 billion as of 31 December 2023.

UnionDigital Bank leads the pack in digital banking, emerges as ‘Best Digital Bank in The Philippines’

UnionDigital Bank is named 'Best Digital Bank in The Philippines’ by TAB Global’s Global Excellence in Retail Finance Awards 2024

The digital bank subsidiary of Union Bank attributes the recognition to the exceptional growth it achieved in 2023, ending the year with a 65% market share in loans and 25% in deposits among digital banks 

Within the period, the bank's loan-to-deposit ratio surged from 58% at the end of 2022 to an impressive 69%, surpassing that of its digital banking counterparts in the country 

In a period defined by technological innovation and digital transformation, UnionDigital Bank, the digital bank subsidiary of Union Bank of the Philippines, emerged as a leader in digital banking as it secured the distinguished title of the ‘Best Digital Bank in The Philippines’. Honored by the esteemed Global Excellence in Retail Finance Awards 2024, an award-giving body in the industry led by TAB Global, this achievement underscores UnionDigital Bank's relentless pursuit of innovation and its dedication to providing cutting-edge digital banking solutions. 

Cool adventures await: Home Credit’s travel essentials for an epic summer getaway

Capture your sun-soaked memories with the hottest smartphones, available via Home Credit's 0% interest installment deal this dry season

Now that the hot weather is finally upon us, we are gearing up for remarkable out-of-town trips to fully embrace the summer vibes. It is time to make the most of the season and beat the intense heat, whether that means taking a refreshing dip in cool pools or beautiful beaches, exploring breathtaking nature, or embarking on a relaxing road trip.

Road trip this long weekend? Here are some tips to keep it hassle-free

With the long weekend coming up, many Filipinos are gearing up for a well-deserved break. Road trips are a popular choice during this time, especially to beach destinations as summer approaches.

Here are some tips to ensure your road trip is smooth sailing:

Plan your route.

Long weekends may involve road closures, maintenance, or construction, so it’s best to check the news for updates. Navigation apps will prove helpful during this time. The holiday rush may also affect traffic, so beat other travelers by leaving earlier, if possible.

Check your car.

A vehicle in top condition will be your best friend during a long journey. Ensure your tires are aligned and balanced, car fluids and battery are secure, and lights and turn signals work. Inspect your car before the trip to ensure everyone’s safety.

The changing face of insurance: How tailored microinsurance products are key to relevance and adoption in the Philippines

For most people, understanding insurance boils down to the four most common types: life, health, auto, and long-term disability. While awareness of insurance importance is increasing, the aforementioned traditional insurance products are failing to resonate with many people due to various reasons including affordability, accessibility, and relevance. These factors have largely contributed to the low insurance penetration in the Philippines, which stands at 1.68% as of September 2023. 

This is where microinsurance is changing the game as insurtechs and insurance companies have introduced personalized microinsurance products that cater directly to the unique lifestyles and needs of Filipinos as they go through various stages of their lives. As an insurtech, Igloo and its partners have been instrumental in facilitating a wide array of microinsurance products that safeguard the unique needs of digital natives and underserved sectors. These products run the gamut from travel insurance, to electronics protection, e-commerce purchase protection, and even protection for the gamers’ health.

Diversify Your Financial Portfolio With Offshore Assets Through Sun Grepa Peso Asset Builder

Tailored to address the financial priorities of affluent individuals seeking to grow their wealth, Sun Life Grepa Financial, Inc. (Sun Life Grepa), a major insurer in the Philippines, has launched the Sun Grepa Peso Asset Builder (ProIncome) to give clients the opportunity to easily access global investments using their Peso assets.

The Sun Grepa Peso Asset Builder (ProIncome) is a Peso-denominated, single-pay investment-linked life insurance product that offers fixed annual income payout of 4.30% for seven years. It also provides capital protection, allowing one to get back their full single premium at policy maturity or at the end of the seven-year holding period.

"We want to provide a complete financial solution to our clients to address their changing financial needs. With Sun Grepa Peso Asset Builder (ProIncome), clients can enjoy regular earnings while preserving their capital," Sun Life Grepa President Richard S. Lim said.

Sun Life empowers business owners to soar in the Year of the Dragon

Three Expert Insights from Francis Kong and Rex Mendoza 

Sun Life Philippines, the first and longest-standing life insurance company in the Philippines, ignited a spirit of entrepreneurial ambition at its recently held event, “Unleashing the Dragon in You:

Business and Financial Health Check for Winning 2024”.  

The event provided valuable insights and actionable strategies from two renowned guest speakers, Francis Kong and Rex Mendoza. 

Heart’s Top International Travel Hacks You Can Do With The GCash App

The country’s leading finance super app, GCash, ushered in a new era of progress with the release of its pilot "GCash Spotlight" episode, featuring their newest ambassador Heart Evangelista-Escudero. 

In the episode, now available to stream online, Heart talks about how important GCash is as the ideal travel companion for her and her husband, Senator Chiz Escudero - from navigating their daily itinerary to making sure they have options to pay for their needs.

Sun Life Opens More New Business Offices to Reach More Clients

Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) Sun Life of Canada (Philippines), Inc. (Sun Life), the country’s longest standing life insurance company, welcomes more clients with the opening of more New Business Offices (NBO) to address the growing needs of Filipinos seeking out solutions to help them achieve a brighter and more financially secured future.

Nine NBOs recently opened their doors to welcome clients, with five located within Metro Manila, two in Central Luzon, one in Visayas, and one in Mindanao. These numbers bring the total number of active NBOs to 96 nationwide with all strategically located to best service clients and advisors alike.

“Helping clients achieve a lifetime of financial security has always been our core purpose as an organization and we aim to drive towards this by reaching them wherever they may be in the country,” says Al Quitangon, Chief Distribution Officer of Sun Life Philippines. “By bringing ourselves closer to our clients, we fulfill our commitment to put them at the center of everything we do.”

Palawan ProtekTODO: Protecting Filipino Families with Affordable & Flexible Insurance

According to the Philippine Insurance Commission, insurance penetration in the Philippines remains remarkably low at 1.75 However, the increasing digitalization and financial literacy among Filipinos are expected to play pivotal roles in its enhancement. The Commission also urges the industry to help in spreading financial literacy and awareness to increase financial inclusion in the county. The Palawan Group of Companies, a trusted leader in pawning and financial services, is responding to the government's call by taking a significant step towards enhancing insurance accessibility in the Philippines. This initiative entails expanding its ProtekTODO microinsurance products through various channels.

Pru Life UK’s newest product guarantees 4% annual cash payout for 7 years

Customers also get 100% cash back and up to 125% coverage with PRULove Wealth 

Taguig City, 8 March 2024 – Leading life insurer Pru Life UK launches a new product designed to provide Filipinos life insurance coverage while also allowing them to earn returns with rates comparable with those from a high-yielding time deposit. PRULove Wealth uniquely offers 4% annual cash payout, 100% cash back, and up to 125% insurance coverage.*   

Regardless of market conditions, customers can rely on a guaranteed 4% annual payout based on the single premium paid. PRULove Wealth complements their traditional bank deposit and fixed income-generating financial assets. The steady earnings assure them and their families cash to celebrate life's milestones, boost personal savings, and provide an extra layer of financial cushion.   

Sun Life and Johnson & Johnson Ink Deal to Promote Healthier Lives for Filipinos

Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) Sun Life of Canada (Philippines), Inc. (Sun Life) and Johnson & Johnson Philippines, Inc. (J&J) reaffirm their commitment to helping Filipinos achieve a brighter life as they enter a collaboration that promotes financial literacy and health and wellness.

The two stalwarts in their respective fields have agreed to promote financial-medical literacy among their target audience through a series of talks and forums. This kicked off with webinars on mental wellness and prostate cancer awareness for Sun Life employees, followed by a two-part financial planning session for J&J employees. 

Suj Peso Maximizer (Proincome): Maximizing Peso Assets With Sun Life's New Investment-Linked Insurance Product

In a bid to address Filipinos’ need for more avenues to invest in offshore investments, Sun Life of Canada (Philippines), Inc. has launched the Sun Peso Maximizer (ProIncome) to provide clients easy access to global investments using their Peso assets.  

The Sun Peso Maximizer (ProIncome) is a Peso-denominated, single-pay investment-linked insurance product that offers annual income payout of 4.30% for seven years. It also provides capital protection, allowing one to get back their full single premium by policy maturity or at the end of the seven-year holding period.  

“With the Sun Peso Maximizer, clients can enjoy regular earnings even prior to the maturity of their policy. This will provide them with extra income to address various needs such as growing their wealth while preserving their capital,” Sun Life Philippines Chief Distribution Officer Al Quitangon said.  

SEA’s Outbound and Inbound Tourism Spending Rebounds on Ant Group's Cross-Border Merchant Networks During Chinese New Year Break

Alipay overseas transactions surpasses 2019 numbers

According to data from Alipay+, the Philippines is the 8th most popular destination globally for Alipay+ users, with South Korea, Hong Kong, and Malaysia as the top 3 markets

Other international e-wallets supported by Alipay+ cross-border mobile payment solutions, as well as international card-enabled Alipay accounts, see inbound travel surge

Data from Ant Group shows a robust rebound of consumer spending during the first back-to-normal Chinese New Year (CNY) travel season after the COVID-19 pandemic, especially in cross-border tourism.  

Robust recovery, diversified destinations, and scenarios for Chinese tourists in the region are made possible by Alipay+

Save Big with Home Appliances, Electronics: Home Credit, SM Appliance Center’s Grand Pay Hulugan Returns with Exclusive Deals

Enjoy a 0% installment rate, up to 30% exclusive discount from Feb 1 to Mar 31, 2024 

Home Credit Philippines (HCPH), one of the country’s leading consumer finance companies, is once again in partnership with SM Appliance Center bring you exciting deals on a diverse selection of home appliances and electronics through the Grand Pay Hulugan promo.  

Running from Feb 1 to Mar 31, 2024, this limited-time offer empowers you to turn your dreams into reality by allowing you to purchase your desired appliances and devices or upgrade your existing ones at unbeatable prices. With this collaboration, you can take advantage of a 0% interest rate on various installment payment terms and enjoy up to 30% Home Credit-exclusive discount on select items.  

Tips To Shop and Pay Wiser, Better This Year from Heart Evangelista and GCash

In its pilot GCash Spotlight episode, GCash ushered in its new era of financial progress together with its newest ambassador, Heart Evangelista. 

GCash, the Philippines’ top finance app and largest cashless ecosystem, continues to revolutionize personal finance for all Filipinos by inspiring wiser, better spending, saving, and investing habits. 

According to Heart, GCash has become an integral part of her daily life, making shopping and saving “more fun and more sulit.” She adds, “I still love to express myself with the pieces I buy and invest in, but I've also been more financially smart, especially with how I shop. I'm looking for the best value for money and treat every purchase, no matter how small, as a smart investment.” 

Sun Life and Beyond Sport foster healthier communities with grand opening of revamped basketball court in Calauan, Laguna

Sun Life Philippines and Sun Life Financial-Philippines Foundation, Inc., in line with their commitment to help Filipinos live healthier lives, recently unveiled a newly refurbished basketball court in the Legacy of Light Village, a resettlement model community that the Sun Life Foundation helped develop in Calauan, Laguna. This is part of the “Hoops + Health” program, a PHP 40 million partnership with Beyond Sport, a global sport-for-social-change organization. The program aims to leverage the power of basketball to encourage physical activity and promote healthier lifestyles by renovating basketball courts across Asia.