Insurance sales lift Sun Life profit

SUN Life Financial Inc. saw its net income climb to $3.7 billion (approximately P153.8 billion) last year, up 11 percent from $3.4 billion (about P141.3 billion) in 2022, on higher sales from insurance packages.

“Sun Life closed 2023 with a strong fourth quarter driven by exceptional sales for individual protection as well as good momentum in our group health and protection businesses, reflecting the value and trust clients place in Sun Life’s solutions,” Kevin Strain, company president and chief executive officer, said in a statement on Thursday.