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Byline: Earl Warren B. Castillo
Second largest life insurer Sun Life of Canada (Philippines), Inc. posted P1.345 billion in net earnings last year, over P50 million or 4% up from P1.292 billion in 2000.
Caesar P. Altarejos Jr. , Sun Life Philippines vice-president for finance, said his firm enjoyed a surge in gross premium earnings but posted slower growth in investment earnings due to the stock market slump.
"Based on Canadian GAAP (Generally Accepted Accounting Principles), Sun Life posted a net profit of P1.345 billion in 2001 compared with P1.292 billion in 2000," Mr. Altarejos told BusinessWorld in an interview yesterday. "There was good …