Ushering a new leadership at Sun Life Philippines

Sun Life Philippines recently announced a leadership transition that places its insurance business president, Jonathan Juan “JJ” Moreno, at the helm starting April 1, following the retirement of CEO and Country Head Benedict Sison after nearly eight years in the post.

Mr. Sison will remain as strategic advisor and chairman of the Sun Life Philippines Holding Company and the Sun Life Foundation until Dec. 31 to support the transition.

The announcement comes as Sun Life highlights its position as one of the longest-standing financial institutions in the country, serving more than 6.2 million clients. The company ties the leadership change to a period of evolving client expectations and a more digital financial landscape.

Sun Life traces its roots to Canada, where it recently observed its 160th year, and operates across North America and Asia. In the Philippines, the company logged its 130th anniversary last year and now counts 131 years of local operations.

Continuing the legacy

Mr. Sison described his retirement as both emotional and reassuring, citing confidence in the leadership team he leaves behind.

Over the past eight years, Sun Life Philippines stayed on top across major indicators, including total premium income and net income, based on Insurance Commission data as of Sept. 30, 2025. He adds that the company’s net income lead over its closest competitor exceeds 50%.

Mr. Sison also pointed to growth in brand recognition, with Sun Life named the most trusted brand in the industry for 14 consecutive years, including seven years at a platinum level. The agency force now exceeds 22,000 advisors, with the largest number of Million Dollar Round Table members in the market.

One of the major developments during his tenure is the creation of Sun Life Investment Management and Trust Corp. in 2021. As of end-2025, the trust unit manages about P430 billion in assets, ranking among the top players in the sector within three years of launch.

For four consecutive years, Sun Life Philippines has been recertified as a Great Place To Work. Mr. Sison said the acknowledgment matters because it reflects internal conditions rather than external rankings.

“Our greatest accomplishments are not measured solely by ambitious targets or rankings. They are measured by the lives we have touched, the relationships with clients that have been built and the legacy of care, compassion, and excellence that we leave behind,” says Mr. Sison.

Next at the helm, Mr. Moreno brings a career that spans the military, financial markets, consulting, and technology. A former naval officer, he later transitioned into enterprise reform, corporate governance, and financial services development, including roles linked to the stock exchange, consulting firms, fintech, and the World Bank Group.

He said this background shapes his approach to leadership, with emphasis on strategy grounded in disciplined execution and decisive action. As such, leading large organizations requires strong teams and systems that can handle multiple pressures at once.

“The areas of ways of working, execution, and implementation of technology and innovation [will remain constant]. [The] focus will be on building ecosystems, such as forging strategic partnerships. It will also include ensuring that our operations are not only responsive to current demands but also to emerging and future needs,” Mr. Moreno said. “Value is created not through the brilliance of strategy but through the excellence of execution.”

Growth of insurance industry

The Philippine life insurance industry posts steady gains despite economic strain in 2025, with Sun Life Philippines outpacing the market as it doubles down on technology, distribution and long-term confidence.

Industry growth over the past five years averages close to 10% in total premiums, according to Mr. Sison. As of Sept. 30, 2025, new business premiums for the industry rose to 11.5%.

Despite steady expansion, life insurance coverage in the Philippines remains limited. Insurance penetration stands at about 1.85% of gross domestic product, well below Thailand’s rate of more than 5% and Singapore’s level above 8%.

“I look at the numbers as an inspiration. They should serve as an inspiration for the Philippine life insurance industry. It tells us that there’s a huge part of potential out there for us to penetrate in the coming years,” Mr. Sison explains.

Meanwhile, Mr. Moreno identifies financial literacy and competition for household spending as ongoing hurdles. He said Sun Life plans to address these through education efforts, advisor-led engagement, and further investment in digital capability.

Technology investment has accelerated at Sun Life after the pandemic, allowing faster underwriting and claims processing, and expanding client access to policy services through digital platforms.

Sun Life places heavy emphasis on digital systems to support its expansion. Mr. Sison said the company invests heavily in technology to improve operations and customer experience. Clients can now access policies around the clock, make changes, or review coverage through digital platforms. These tools allow customers to manage policies remotely while keeping traditional service available for those who prefer it.

Both leaders stressed continuity in priorities. Mr. Moreno said the company will stay focused on clients, employees, distribution partners, and financial results.

“My leadership style has always been not to focus on what will change but first to focus on what will endure. Those that will endure include four things I outlined earlier, as Benedict said: focus on the client, focus on our employees, focus on our distribution channels and distribution force and, at the end of the day, as a publicly listed company, financial performance for shareholders,” Mr. Moreno explains.

Mr. Sison urges employees and advisors to rally behind the new leadership and to keep attention on client needs, which he credits for Sun Life’s long presence in the country.

“What’s helping us stay relevant is our purpose. Our purpose of helping Filipinos achieve lifetime financial security remains relevant, because, as long as there is one Filipino with a loved one he or she wants to protect, Sun Life will be there,” Mr. Sison concludes.