- Reuters - UK Focus•last year
By Neil Jerome Morales MANILA, Aug 3 (Reuters) - The Philippine life insurance sector is predicting a record year for premiums, but poor financial literacy and the relatively high cost of insurance plans mean it would be a while before penetration rates catch up with the rest of the region. The improving Philippine economy, one of the fastest in Southeast Asia, is giving ordinary Filipinos stronger incentive to save. "For some, they don't have the means and some don't know how (to prepare financially)," Rizalina Mantaring, president of the Philippine unit of Sun Life Financial Inc (Toronto: SLF-PC.TO - news) , told Reuters.
- Reuters - UK Focus•2 years ago
Plans by India's government to allow more foreign investment in the country's still-small insurance sector has hit snags in parliament, testing Prime Minister Narendra Modi's campaign promise to push through reforms to revive the economy. Over the past week, the government has twice sought to introduce legislation in the upper house of parliament permitting 49 percent foreign participation in an insurance venture, up from 26 percent, but it has been blocked by the opposition. Finance Minister Arun Jaitley has called the heads of political parties to a meeting on Wednesday in a bid to form a consensus behind the legislation so billions of dollars can flow into a sector starved of funds and held back by over-regulation. Modi's government expects that if the sector is opened further, insurers such as Canada's Sun Life Financial (Toronto: SLF-PC.TO - news) Inc, Prudential PLC Nippon Life Insurance Co, Italy's Generali and Dutch insurer Aegon NV will inject more funds into what is the world's 10th biggest life insurance market - even though currently fewer than 4 percent of Indians have insurance.
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SLF-PC.TO: Summary for SUNLIFE FINANCIAL INC. CL A PRF - Yahoo Finance
Sun Life Financial Inc. (SLF-PC.TO)
Toronto - Toronto Delayed price. Currency in CAD
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|Day's range||21.62 - 21.90|
|52-week range||18.70 - 23.19|
|PE ratio (TTM)||5.85|
|Dividend & yield||N/A (N/A)|
|1y target est||N/A|