Canadian pre-need insurance firm Sun Life Financial Plans Inc. (SLFPI) gave clients the assurance that the company is strong enough to compete head on and protect itself from the impact of the global recession.
"We are a prudent company by nature and we have always brought this prudence to our pre-need company," said Sun Life Philippines president and chief executive officer (CEO) Henry Herrera.
"Rumors relating to the state of the industry are not reflective of Sun Life's pre-need business which continues to be strong and well-capitalized," he stressed.
Herrera assured that the company is well capitalized and has sufficient funds to meet all obligation of its pre-need plan holders, amid the market jittery brought about by the fragile global economy.
"At Sun Life, our message to plan holders is crystal clear - we can and will continue to fulfill our obligations to our plan holders," he added.
Sun Life's capitalization is one of the highest in the industry and it has a conservative investment portfolio. The company is invested in government bonds and which were locked-in at interest rates sufficient to cover its obligations.
"After 113 years of experience in the Philippines we have always met our obligations no matter what the crisis and we will continue to do so. Of this we are very proud," Herrera concluded.
Early this year, the company's investment arm, Sun Life Financial announced to intensify its Sun Life Prosperity Funds, to provide the investing public with quality product to position and earn significantly once the market recovers.
The company has identified pockets of opportunities even amidst these uncertain times.
Sun Life Prosperity Funds is the biggest family of mutual funds in the Philippines, offering seven different types of funds varying risk profiles and investment time horizon.
When one invests in the Prosperity Funds, he benefits from the expertise of seasoned Sun Life Financial Fund Managers who manage his investments.— Ehda M. Dagooc