The Philippines' steady economic growth has resulted in the spurring of the country's life insurance business into a multi-billion-peso industry. In 2024, Sun Life Canada was the leading life insurance company in the country, with a premium income of approximately ** billion Philippine pesos.Â
Sun Life of Canada: more information
Sun Life Financial Philippines has been operating in the Philippines since 1895 and has become the longest-standing life insurance company in the country. The company offers a wide range of insurance products, investment opportunities, and even financial literacy. Its products also cover business owners, overseas Filipino workers, and pensioners. In 2024, Sun Life of Canada was also the leading life insurance company in the Philippines based on assets.
Life insurance – a viable market
As more and more Filipinos were made aware of insurance benefits through policy awareness campaigns launched by insurers, their clientele multiplied. Of the two kinds of life insurance policies, the variable life policy appeared to have been more popular. In 2023, the premium income of variable life insurances was higher than traditional life insurances.Â
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Insurance Commission. (February 5, 2025). Leading life insurance companies in the Philippines in 2024, by premium income (in billion Philippine pesos) [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved July 25, 2026, from /statistics/1058366/philippines-largest-life-insurance-by-premium-income/
Insurance Commission. "Leading life insurance companies in the Philippines in 2024, by premium income (in billion Philippine pesos)." Chart. February 5, 2025. ÌÇÐÄÆƽâ°æ. Accessed July 25, 2026. /statistics/1058366/philippines-largest-life-insurance-by-premium-income/
Insurance Commission. (2025). Leading life insurance companies in the Philippines in 2024, by premium income (in billion Philippine pesos). ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: July 25, 2026. /statistics/1058366/philippines-largest-life-insurance-by-premium-income/
Insurance Commission. "Leading Life Insurance Companies in The Philippines in 2024, by Premium Income (in Billion Philippine Pesos)." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 5 Feb 2025, /statistics/1058366/philippines-largest-life-insurance-by-premium-income/
Insurance Commission, Leading life insurance companies in the Philippines in 2024, by premium income (in billion Philippine pesos) ÌÇÐÄÆƽâ°æ, /statistics/1058366/philippines-largest-life-insurance-by-premium-income/ (last visited July 25, 2026)
Leading life insurance companies in the Philippines in 2024, by premium income (in billion Philippine pesos) [Graph], Insurance Commission, February 5, 2025. [Online]. Available: /statistics/1058366/philippines-largest-life-insurance-by-premium-income/
