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SUN LIFE OF CANADA (PHILIPPINES) INC., the life insurance arm of Sun Life Financial Philippines (SLFP), yesterday reported a 44-percent rise in net profit last year on the back of stable premium revenue and strong investment income despite the tough economic environment.
Sun Lifes net profit in 2008 rose to P2.3 billion from P1.6 billion the previous year.
Premium revenue reached P8.3 billion, while investment income hit P7.8 billion. In 2007, premium revenue slowed down by 3 percent, while investment income surged by 44 percent.
In a challenging environment, our loan portfolio remains 100-percent current, reflecting 0-percent nonperforming loan, …