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MANILA, Philippines — At a media roundtable event held early this year, Sun Life Philippines announced a major leadership transition while reaffirming its long-term commitment to Filipinos’ financial security, digital innovation, and industry leadership.
Sun Life’s former CEO and country head Benedict Sison led the event and welcomed the new CEO, Jonathan Juan “JJ” Moreno, who officially assumed the role last April 1.
Their discussion reflected on the eight years of growth under Sison’s leadership, as well as a preview of how Sun Life plans to respond to evolving client expectations, continue digital innovation and improve the country’s low insurance penetration rate.
Carla Gonzalez-Chong, chief client experience and marketing officer of Sun Life Philippines, opened the event, emphasizing the company’s deep roots and scale, both locally and globally.
“Sun Life operates in various markets around the world. In the Philippines, we have helped millions of Filipinos achieve lifetime financial security and live healthier lives through our broad range of life, wealth, and health protection products and services,” Gonzalez-Chong said.
She highlighted that Sun Life Philippines—which celebrated its 130th anniversary last year—is the country’s first and longest-standing life insurance company.
“With our clients’ trust and support, Sun Life has remained the No. 1 life insurance company in the country… holding that rank for 15 consecutive years,” she added.
She formally acknowledged Sison’s retirement announcement and Moreno’s succession, noting that Sison will continue to serve as strategic advisor and chairman of the Sun Life Philippines Holding Company and the Sun Life Foundation until December 31, 2026 to ensure a smooth transition.
A legacy of growth and transformation
Sison reflected on his tenure and expressed confidence in the organization he is leaving behind.
“I feel so reassured, so confident about leaving Sun Life Philippines because I’m leaving it to people, to leaders who are remarkable,” Sison said.
“Being in a place which has been my professional home for the past 15 years is not easy, but it’s made a lot easier because I’m leaving it with remarkable leaders and people to run the company.”
Rather than focusing on personal achievements, Sison framed his legacy around collective results. Under his leadership, Sun Life Philippines—covering both insurance and financial segments—sustained its position as the No. 1 in the industry, across all key metrics, including total premium income, net income, invested assets and total assets.
Sun Life also grew its client base to over 6.2 million clients, up from 5 million when Sison assumed the role—representing more than 20% growth.
On the brand side, Sison pointed to long-standing trust from consumers.
“For the 16th year in a row, we continue to be recognized as the most trusted brand in the industry,” he said, adding that for the past seven years, this recognition has been elevated to platinum level.
He also cited the company’s 22,000-strong agency force, with Sun Life having the highest number of Million Dollar Round Table (MDRT) advisors in the industry, which indicates advisor quality and performance.
One of Sison’s defining strategic moves was the launch of Sun Life Investment Management and Trust Corporation in 2022, at the height of the pandemic.
He also mentioned digital transformation as another critical pillar.
“What used to take weeks before can now be done in minutes,” Sison said, referring to underwriting and claims processing improvements enabled by data analytics and digital platforms.
Opportunity amid low penetration
Sison shared insights into the broader life insurance landscape, saying that the Philippine life insurance industry has posted a compound growth rate of close to 10% over the past five years.
“Despite all this growth, the penetration rate in the Philippines remains low,” he said, citing the country’s 1.85% penetration rate, compared to Thailand’s 4.5% and Singapore’s over 8%.
“I look at these numbers as an inspiration. They should serve as an inspiration for the Philippine life insurance industry because it tells us that there’s a huge market potential out there,” Sison expressed.
A new chapter under Moreno
On his part, Moreno outlined the challenges and priorities he sees for the industry and for Sun Life.
“There are challenges in as far as financial literacy is concerned, such as the awareness of the importance of life insurance. This is one of the areas where we, as an industry, would need to band together,” he shared.
He emphasized three strategic thrusts: advancing financial literacy, strengthening Sun Life’s agency force, and accelerating digital transformation.
“We are very, very proud of our agency force. We believe that they are the best in the market,” said Moreno, whose career spans corporate governance, consulting, fintech, and financial services.
“The whole thread that binds my career has always been in enterprise reform—value-based, technology-enabled. That’s what I hope to be able to bring to Sun Life.”
Both leaders emphasized continuity over disruption, and Sison reiterated his confidence in Moreno’s leadership: “Since joining Sun Life in 2025 as president of Sun Life’s insurance business, JJ quickly immersed himself in the industry and has brought a fresh and valuable perspective to our company. I’m very confident with the passing of the mantle of leadership.”
“When I take on a role, my leadership style has always been not to focus on what will change, but to first focus on what will endure,” Moreno said. “Focus on the client, focus on our employees, focus on our distribution channels and financial performance.”
“Everything that Sun Life does will always be focused on our clients. Our clients will be our top priority,” Sison concluded.
Editor's Note: This #Brandspace story is created with Sun Life. It is produced by the Advertising Content Team that is independent of our Editorial newsroom.
