Singlife Philippines nears profitability
SINGLIFE PHILIPPINES, INC. expects to surpass last year’s performance in both customer growth and revenue as it moves closer to profitability, Chief Executive Officer (CEO) Lester Cruz said.
The company is focused on building sustainable platforms and ecosystems that go beyond customer acquisition to engagement and interaction, he told reporters last week.
“We are on track. It should not take a very long time for us to cross the finish line,” he said.
Unaudited figures from the Insurance Commission (IC) show that Singlife Philippines narrowed its net loss to P300.66 million in 2025, down from a P428.67-million deficit in 2024. Customer numbers and new business revenue both rose 23% year on year.
Mr. Cruz said the company expects 2026 to deliver “another year of significant outperformance” relative to 2025, citing foundations laid last year. He added that audited results would likely reflect further improvements.
To sustain growth, Singlife Philippines plans to tap more customer segments with fresh products and solutions this year. Investment-linked products will be a focus, as the majority of the company’s sales are concentrated in life and health offerings.
“More traditional insurance companies typically have a greater share of their sales in investment-linked products,” Mr. Cruz said. “For us, it’s really been life and health. Nonetheless, we recognize the opportunity.”
“As we continue to build our life and health portfolio, we will also double down on the investment-link or variable unit-linked space.”
The company is pursuing ambitious growth targets on both traditional and investment-linked products, though Mr. Cruz noted that it remains to be seen whether the mix would match broader industry trends.
The CEO also said geopolitical tensions including the US-Iran war are unlikely to materially affect the life insurance market in the Philippines.
Insurance penetration in the country remains low at under 2%, leaving substantial room for expansion.
“I wouldn’t say the conflict impacts 98% of the population. There will continue to be an enormous opportunity,” he said.
Singlife Philippines posted a premium income of P496.81 million in 2025, according to IC data. — Aaron Michael C. Sy
