The Philippines unit of the Canadian life insurance company's variable universal life insurance attaching structured notes re-launched last year have gained momentum, the company’s head of investments says.
Structured note-linked variable unit-linked insurance plans have contributed to the business of Sun Life Philippines over the past year. Historically, variable universal life insurance tends to be an open-ended fund invested in fixed income and equity securities - Ivan Corcuera Re-launched last year to address clients’ most urgent needs – steady cashflows – the product has been gathering on average US$15-20 million per tranche in sales over the past six quarters