A N N U A L R E P O R T | 2 0 1 5

Vision for the Future

Timely Performance

Excellent Execution

Innovative Mindset

Passion for Life

Vision, Mission and 2015 Strategic Goals 04

About the Company 05

Ownership Structure 06

Message from the Chairperson 08

Message from the President 09

Board of Directors 10

Senior Leadership Team 14

Board-appointed Officers 15

Corporate Governance 16

Corporate Social Responsibility 18

Audited Financial Statements 20

Branches 30

Tabl

e of

Con

tent

s

Our business is to provide solutions.

We will delight our customers by offering an integrated product suite, satisfying their insurance and investment needs.

We will recruit, nurture, retain, and empower sales associates and employees who are recognized and rewarded for professionalism, excellence, and innovation.

We will increase value for our shareholders by consistently meeting all targets through good governance and the adoption of best practices.

We will educate the Filipino public on the importance of financial preparedness and diversity in relation to their investments portfolio.

Sun Life Grepa Financial, Inc. is a provider of financial solutions that are innovative, market responsive and with great value.

Our

Vis

ion

Our

Mis

sion

2015 Strategic Goals Strengthen distribution channel reach

Introduce new products relevant to evolving consumer needs and changing market conditions

Promote financial literacy

4

Abo

ut t

he C

ompa

ny

SUN LifE fiNANCiAL PhiLiPPiNES Sun Life Financial has been in the Philippines for over 120 years and continues to be at the top of the industry despite the increasingly competitive landscape. As the company sustains its leadership in the country, it has put a lot of effort into growing its distribution network to help even more Filipinos achieve lifetime financial security.

Sun Life Financial Philippines is a member of the Sun Life Financial group of companies, a leading international financial services organization providing a diverse range of protection and wealth products and services to individuals and corporate customers. Sun Life Financial and its partners have operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of September 30, 2015, the Sun Life Financial group of companies had total assets under management of $846 billion. For more information please visit www.sunlife.com.

YUChENGCO GROUP Of COMPANiES (YGC)In the course of a century, YGC has grown into one of Southeast Asia’s largest and most diversified conglomerates, encompassing more than 50 companies with business interests in banking, insurance, automotive dealership, construction and engineering, education, travel services, information technology, arts and culture, advertising and marketing services.

SUN LifE GREPA fiNANCiAL, iNC.Sun Life Grepa Financial, Inc. (SLGFI) is a joint venture company born out of the cooperation between GPL Holdings, Inc. (a member of the Yuchengco Group of Companies) and Sun Life Financial Philippine Holding Company, Inc. (a member of the Sun Life Financial Group).

A product of the union of distinct brands with their own strengths and global recognition, SLGFI ranks among the top 10 players of the life insurance industry in the country.

The Company traces its roots to Great Pacific Life Assurance Corporation (Grepalife), which was the flagship life insurance firm of YGC. Established in 1954, it has evolved to be one of the industry’s leaders, with its daring innovations that have now become industry standards. Grepalife was the first local insurance firm to pioneer life insurance installment payments and group credit, among others. It also introduced the salary savings/ salary deduction plan which allowed public servants and ordinary employees to pay for their policies. Carrying its original mandate to bring the benefits of life insurance to those who needed it most – the marginal income earner – Grepalife found greater ways to give more Filipinos access to life insurance. With the joint venture in 2011, Grepalife became SLGFI.

Under the joint venture, SLGFI owns 51% of Grepa Realty Holdings Corporation, 100% of Grepalife Asset Management Corporation, and 100% of Great Life Financial Assurance Corporation. Grepalife Asset Management Corporation manages the following Grepalife Mutual Funds: Grepalife Fixed Income Fund Corporation, Grepalife Balanced Fund Corporation, and Grepalife Dollar Bond Fund Corporation.

5A

nn

uA

l RepoRt | 2015

Sun life grepa financial, inc.

GPL hOLdiNGS, iNC.SUN LifE fiNANCiAL PhiLiPPiNE

hOLdiNG COMPANY, iNC.

SUN LifE GREPA fiNANCiAL, iNC.

GREPA REALTY hOLdiNGS CORPORATiON (51%)

GREPALifE ASSET MANAGEMENT CORPORATiON (100%)

GREAT LifE fiNANCiAL ASSURANCE

CORPORATiON (100%)

Ow

ners

hip

Stru

ctur

e

(49%)(51%)

GREPALifE fixEd iNCOME fUNd CORPORATiON

GREPALifE BALANCEd fUNd CORPOPRATiON

(fORMERLY GREPALifE BONd fUNd CORP.)

GREPALifE dOLLAR BONd fUNd CORPORATiON

6

“Family is very important to me. Everything I do is for them because I want to ensure that they are well provided for. Their needs are my top priority.”

Mov

ing

Up

Get

ting

Sta

rted

“I want to start building my own life. I want to experience and make memories. I want to thank my parents/family for supporting me.”

We at Sun Life Grepa Financial, Inc. remain passionate about educating the Filipino public on the importance of financial preparedness and helping them achieve financial independence in their lifetime. People have different financial needs depending on their current life stage.

Are you ready for life?

Allow me to express my utmost appreciation for the outstanding work of our distribution partners and employees in securing the financial future of more Filipino families. 2015 was a very good year for Sun Life Grepa Financial, Inc., having become the fastest growing player among the top 10 life insurance companies in the country.

The sustained growth of our distribution channel capabilities and the successful introduction of new market-relevant products were two of several initiatives that were most vital to our 2015 success story. Further lending strength to these initiatives was the concerted effort of our business partners, distribution partners and business support teams to drive programs that pushed for increased productivity and activity. These programs included the introduction of 4 new products, namely Sun Grepa Power Builder Dollar 1, SLG Dynamic

Fund, SLG MyFuture Funds, and SLG Growth Plus Fund. Apart from that we also offered exclusively to existing customers the Sun Grepa ProHealth product while offering to the general public the Praxis board game as part of our advocacy on financial literacy.

As the market continues to change, so will our way of doing business. Our portfolio of customer-centric financial protection, savings and investment products will continue to evolve in line with the changing financial protection needs of our existing and potential customers. By keeping in touch with the pulse of the market, we will be able to widen our reach and grow the business even further.

Let us continue to strengthen our relationships with our various stakeholder groups and work even harder to deliver on our commitment of helping to provide a better, more secure financial future to more Filipino families everywhere.

Thank you for your continued belief and support.

Helen Y. Dee

Mes

sage

from

the

Cha

irper

son

8

In 2015, Sun Life Grepa Financial, Inc. (SLGFI) achieved significant business growth, further strengthening its position as one of the fastest growing top 10 life insurance companies in the country.

To date, over 660,000 Filipinos have trusted SLGFI to help take care of their financial protection. We also made sure our company follows through on its commitments, paying over Php 3.85B in insurance-related benefits in the last 3 years.

Our business highlights in 2015 include: Php 10.1 B in premium income generated plus growth of 44% vs.

2014 Net income growth by 28% from 2014 New business sales in terms of Annualized Full Year Premium of Php

1.36B, – up 49% from 2014 4 new products and funds introduced Launched corporate social responsibility projects in support of Sun Life Financial’s 120 Rays of Giving Back program

These accomplishments serve to motivate us to help more Filipino families enjoy a secure and brighter future. As we expand our business in 2016, we strive to make it easier for customers to do business with us while continuing our advocacy of promoting financial literacy in the markets we serve. Our efforts will now veer towards providing more focused and relevant services at every customer’s life stage.

Thank you for your continued trust and confidence in us.

Richard S. Lim

Mes

sage

from

the

Pre

side

nt

9A

nn

uA

l RepoRt | 2015

Sun life grepa financial, inc.

Boar

d of

dire

ctor

s

helen Y. dee | Chairman of the Board, Director

Mrs. Dee, (71) Filipino, was elected as the Chairman of the Board of Directors of SLGFI in 2015. She is currently the President, Chief Executive Officer, and Chairman of the House of Investments, and heads subsidiaries and affiliates in the Yuchengco Group such as Moira Management, HI-Daiei Trading Co., and YGC Corporate Services, and Equitas Insurance Brokers Inc. She also Chairs the Universal Malayan Reinsurance Corp., Mapua Institute of Technology, Lifetime Plans, HI-Eisai Pharmaceuticals Landev Corp., Manila Memorial Park, Silver Falcon Insurance Agency, and Rizal Commercial Banking Corporation.

Mrs. Dee also serves as Director for different publicly-listed and privately-held companies including: Petrogreen Energy Corp., RCBC Savings Bank , South Western Cement Corp., Manila Peninsula Hotel Inc., MICO Equities Inc., YGC Corporate Services Inc., La Funeraria Paz Inc., Seafront Resources Corp., Philippine Long Distance Telephone Company, Ipeople and EEI Corp.

Mrs. Dee earned her Bachelor of Science degree in Commerce, major in Administration from Assumption College. She holds a Master in Business Administration from De La Salle University.

Michele Marie Y. dee | Director

Ms. Dee, Filipino, (49) is a Director of SLGFI and Executive Vice President of AY Foundation, Inc., Chairperson and President of Luis Miguel Foods, Inc., and President of Sandee Unlimited Inc., Pan Malayan Management & Investment Corp. and MJ888 Corporation, respectively. She also serves as Director of Malayan Insurance Co., Inc., First Nationwide Assurance Corporation, Pan Malayan Express, Inc., RCBC Savings Bank, Malayan Securities, and RADD Technologies and Innovations, Inc., and is Treasurer of MICO Equities, Inc., Yuchengco Museum, Inc., and Phil. Integrated Advertising Agency. Ms. Dee is also Consultant of the Customer Engagement Division, Retail Banking Group of Rizal Commercial Banking Corporation.

Ms. Dee obtained a B.A. International Business from Marymount College in New York, U.S.A.

Jose isidro N. Camacho | Independent Director

Mr. Camacho, Filipino, (60) is an independent director of SLGFI as well as Sun Life of Canada (Philippines), Inc. (2009 to present), where he is also the non-executive Chairman of the Board of Directors Presently, he is the Managing Director of Credit Suisse, based in Singapore. He is the Vice Chairman for Asia Pacific and also the Country Chief Executive Officer for Credit Suisse Singapore.

He has a long and distinguished career in government and international banking, including his roles as Secretary of Energy and Secretary of Finance for the Philippines from 2001 to 2003. Prior to joining the government, Mr. Camacho was Managing Director and Chief Country Officer for the Philippines at Deutsche Bank, AG in Manila. Mr. Camacho began his career at Bankers Trust where he worked for 20 years in various positions in New York, Japan, Hong Kong, the Philippines and in Singapore. Mr. Camacho graduated cum laude with a bachelor’s degree in mathematics from De La Salle University and received his MBA with a concentration in finance from the Harvard Business School.

10

francisco C. Eizmendi, Jr. | Independent Director

Mr. Eizmendi, Jr., (80) Filipino, is a Director of SLGFI and Consultant to the Office of the Chairman of San Miguel Corporation and served as its President and Chief Operating Officer from 1987 to 2002. Mr. Eizmendi serves as the Chairman of the Board of Dearborn Motor Co. Inc. He served as a Non-Executive Director of San Miguel Brewery Hong Kong Limited (from 20 September 1984 until June 10, 2005). He also serves as an Independent Director for Makati Finance Corp.; RCBC Forex; and Bankard Inc.( from 30 May 30 2002 to 27 May 2011). He served as a Member of the Advisory Board of Rizal Commercial Banking Corp. He serves as an Independent Director of Great Life Financial Assurance Corporation. He serves as Trustee at the Institute of Corporate Directors.

His other interests include active memberships with the Management Association of the Philippines, the Harvard Business School Association of the Philippines and the International Management Institute, Philippine Chapter. He graduated from the University of St. Tomas with a Bachelor of Science Degree in Chemical Engineering.

Richard S. Lim | Director, President

Mr. Richard Lim (51) is the President of SLGFI, Great Life Financial Assurance Corporation, and Grepalife Asset Management Corporation.

Mr. Lim joined Sun Life in 1990 as Operations Supervisor at the Sun Life Asia Pacific Information Systems Department, rapidly climbing the ranks until he became Director, Computing Services in 1999, then Director, Individual Insurance and Wealth Accumulation Systems. He transferred to the Philippine operation and, in 2006, he was appointed VP, Information Technology. He served a secondment at P.T. Sun Life Indonesia Services from 2006 to 2010. While in Indonesia, Mr. Lim and his teams were nominated and received several awards in the prestigious CEO Excellence Awards of Sun Life Financial.

Mr. Lim graduated with a Bachelor of Science in Computer Engineering from the Mapua Institute of Technology. He was awarded the designation of Master Fellow, Life Management Institute and also Associate, Customer Service by the Life Office Management Association.

Rizalina G. Mantaring | Director

Ms. Mantaring, Filipino, (56) is a Director of SLGFI. She also serves as the President & CEO of Sun Life of Canada (Philippines), Inc. and Sun Life Financial Philippine Holding Company, Inc. She is currently the Chairman of the Sun Life Prosperity Funds including the Sun Life of Canada Prosperity Bond Fund, Inc., Sun Life of Canada Prosperity Balanced Fund, Inc., Sun Life of Canada Prosperity Philippine Equity Fund, Inc., Sun Life Prosperity Dollar Advantage Fund, Inc., Sun Life Prosperity Dollar Abundance Fund, Inc., Sun Life Prosperity GS Fund, Inc., Sun Life Prosperity Money Market Fund, Inc. (2009 to present), and Sun Life Prosperity Dynamic Fund, Inc. (2012 to present). She is also the Chairman of the Grepalife Dollar Bond Fund Corporation, Grepalife Balanced Fund Corporation, and Grepalife Fixed Income Fund Corporation (“Grepalife Funds”) (2011 to present) and of Great Life Financial Assurance Corporation (2012). She is also a member of the Boards of Directors of Sun Life Asset Management Company, Inc., Grepalife Asset Management Corporation, Sun Life Financial Philippines Foundation, Inc. and Sun Life Financial Plans, Inc. Ms. Mantaring is a member of the Board of Trustees of the Philippine Life Insurance Association, Inc. (2010 to present).

Ms. Mantaring received her Bachelor of Science in Electrical Engineering (cum laude) from the University of the Philippines and Master of Science in Computer Science from the State University of New York at Albany. She is also a Fellow, Life Management Institute (with distinction) and Associate, Customer Service (with honors) of the Life Office Management Association (“LOMA”).

11A

nn

uA

l RepoRt | 2015

Sun life grepa financial, inc.

Juan B. Santos | Independent Director

Mr. Santos, (77) Filipino, is an independent director of SLGFI. He is currently the Chairman of the Board of the Social Security System. He has formerly been with Nestle Philippines, Inc. (“NPI”), where he was Chief Executive Officer until 2003 and Chairman of the Board until 2005. Prior to these, he served as Chief Executive Officer of the Nestle Group of Companies in Thailand and Singapore.

In addition to his post at NPI, he served as Director of San Miguel Corporation, PLDT, Manila Electric Company, Malayan Insurance Company, Inc., Equitable Savings Bank, Inc., PCI Leasing and Finance, Inc., Inter-Milling Holdings Limited and PT Indofood Sukses Makmur Tbk. He was also the Chairman of the Advisory Board of Equitable-PCIBank.

Mr. Santos obtained his Bachelor of Science Degree in Business Administration from the Ateneo de Manila University and pursued post-graduate studies at the Thunderbird Graduate School of Management in Arizona, USA. He completed his Advanced Management Course at IMD in Lausanne, Switzerland.

Kevin Strain | Director

Mr. Kevin D. Strain (49) is Director of SLGFI and the President of Sun Life Financial Asia. Appointed in 2012, he is responsible for Sun Life’s interests in Asia, including identifying opportunities for growth in the region and managing the Company’s relationships with its partners. He is based in Sun Life’s Asia Regional Office in Hong Kong and is a member of the Company’s Executive Team. Mr. Strain is also Chairman of the Boards of Directors of Sun Life Asset Management Company, Inc. and Grepalife Asset Management Corporation.

With significant insurance and leadership experience in both individual and group businesses and in managing finance functions, Mr. Strain was Senior Vice-President of Sun Life’s Individual Insurance and Investments division in Canada from 2007 to 2012, responsible for the creation and delivery of insurance, health and wealth management products and solutions nationwide. This included managing an expansive distribution organization encompassing Sun Life’s career sales force, the largest in Canada, and third party distributors.

Mr. Strain is a Chartered Accountant and holds a Master of Accounting degree from the University of Waterloo in Canada.

Ambassador Alfonso T. Yuchengco | Director

Mr. Yuchengco, (93) Filipino, Director of SLGFI, is a prominent industrialist, certified public accountant, Far Eastern University alumnus, educator, and diplomat in the Philippines. Mr. Yuchengco is the Chairman of the Yuchengco Group of Companies, one of the largest family-owned business conglomerates in the Philippines. He is also concurrently the Chairman of the Board of MICO Equities, Inc. (holding company of the Malayan Group of Insurance Companies); Pan Malayan Management and Investment Corporation; Nippon Life Insurance Company; Rizal Commercial Banking Corporation, one of the largest commercial banks in the Philippines; Mapúa Institute of Technology, a leading engineering school in the country; Malayan Colleges Laguna, and Malayan High School of Science, an innovative science high school.

Mr. Yuchengco has been the Chairman of the Board of Directors of GPL Holdings; House of Investments, Inc.; BA Savings Bank; Dole Philippines; Philippine Long Distance Telephone Company; Benguet Corporation; and the Philippine Fuji Xerox Corporation. He has been a member of the Board of Advisors of the Columbia Business School, one of the leading business schools in the world. He has been the Philippine Permanent Representative to the United Nations, with the rank of Ambassador Extraodinary and Plenipotentiary (A.E.P.).

Mr. Yuchengco holds a Bachelor of Science in Commerce, major in Accountancy, from the Far Eastern University. He took and passed the licensure examinations for certified public accountants in the Philippines.

12

“I want to live my retirement years in comfort and pursuing lost passions. During these years, I intend to devote more time for my family, my hobbies and interests.”

Leav

ing

a L

egac

y

Prep

arin

g A

head

“My loved ones are dependent on me and I can’t let them down. I have to make sure that I am physically and financially able to provide for the needs as well as theirs.”

As you go through life, your vision of a great life also changes.

We provide financial solutions that satisfy your insurance and investment needs at each life stage.

Ask us about our Money for Life Program today!

Are you ready for life?

Richard S. Lim President

Seni

or L

eade

rshi

p Te

am

Jocelyn A. AlegreHead of Operations

Peter M. Miranda Vice-President, Head of Group Marketing Sales and Services

Cynthia B. NonoVice-President, Head of Bancassurance Channel

14

Roy G. Padiernos Executive Vice-President, Head of Agency Sales and Marketing Operations

Jose Enrique N. SongcoVice-President, Head of Affinity Marketing

Gerardo d. TironaVice-President, Head of Marketing

Maria Josefina A. CastilloChief Financial Officer & Treasurer

Patrick C. EstorninosAssistant Vice-President, Strategic Initiatives

Maria Carmen i. GutierrezVice-President, Head of Human Resource Management

15A

nn

uA

l RepoRt | 2015

SUN LifE GREPA fiNANCiAL, iNC.

Richard S. Lim President

Mr. Richard Lim is the President of SLGFI. He is also the President of both Great Life Financial Assurance Corporation, and Grepalife Asset Management Corporation. Lim currently leads the SLGFI Senior Leadership Team and the Board-appointed Officers (see full description on page 11).

Maria Josefina A. Castillo Chief Financial Officer & Treasurer Ms. Maria Josefina A. Castillo is Chief Financial Officer & Treasurer of SLGFI. Concurrently, she serves in the same capacity at Sun Life of Canada (Philippines), Inc.

Ms. Castillo has over 20 years of extensive finance experience in the life insurance industry. She is responsible for the overall leadership of the Finance function of Sun Life Philippines and its subsidiaries, as well as the Sun Life Prosperity family of funds.

Ms. Castillo is a Certified Public Accountant, having graduated from Miriam College with a degree in B. S. Accountancy. She received her Master in Business Administration from the University of the Philippines (Diliman). She is a Fellow, Life Management Institute (FLMI) and an Associate, Customer Service (ACS) of the Life Office Management Association.

Samuel V. Torres Corporate Secretary

Atty. Torres is the Corporate Secretary of Sun Life Grepa Financial, Inc. (SLGFI). He is General Counsel of Pan Malayan Management & Investments Corporation of the Yuchengco Group of Companies. He also serves as the Corporate Secretary of various companies, i.e., House of Investments, Inc.; iPeople, Inc.; Petro Energy Resources Corporation; RCBC Securities, Inc.; GPL Holdings, Inc., among other corporations. He was formerly Corporate Secretary of Grepalife Asset Management Corporation and the three Grepalife mutual funds, i.e., Grepalife Dollar Bond Fund, Grepalife Balanced Fund (formerly Grepalife Bond Fund), and Grepalife Fixed Income Fund. He graduated from the University of the Philippines School of Economics with a degree in BS in Business Economics and took up Bachelor of Laws in the Ateneo de Manila University School of Law.

Jemilyn S. Camania Assistant Corporate Secretary

Atty. Camania is the Assistant Corporate Secretary of Sun Life Grepa Financial, Inc. and Corporate Secretary of Sun Life of Canada (Philippines), Inc., Sun Life Financial Plans, Inc., Sun Life Asset Management Company, Inc., Sun Life Financial Philippine Holding Company, Inc., Sun Life Financial – Philippines Foundation, the 11 Sun Life Prosperity Funds, Grepalife Asset Management Corporation, Great Life Financial, Inc., and the 3 Grepalife Funds. Atty. Camania started at Sun Life as Assistant Counsel in 2004, and then moving up the ranks to become Counsel (2007 to 2011) and Senior Counsel (2011 to 2012). She is currently Sun Life’s Deputy General Counsel (2012 to present) and Head of General Corporate Services ( 01 May 2016). In April 2016, she was appointed in a concurrent capacity as Senior International Counsel for Sun Life Financial Asia. Prior to joining Sun Life, she worked as an Associate at the Cayetano Sebastian Ata Dado & Cruz Law Offices (2001 to 2004). Atty. Camania received her Bachelor of Arts in Psychology and Bachelor of Laws degrees from the University of the Philippines. She was called to the Bar in 2002. She is also a Fellow, Life Management Institute (2010) and Professional, Customer Service (with honors) (2011) and Associate, Insurance Regulatory Compliance (2014) of LOMA.

Board-appointed Officers

16

Conchitina D. L. Gregorio Compliance Officer

Atty. Conchitina D. L. Gregorio is the Compliance Officer of SLGFI. Concurrently, she is the VP & Chief Compliance Officer and Business Unit Compliance Officer of Sun Life Financial Philippines. She is responsible for leading the Compliance team in the Philippines in the development and implementation of programs and systems to support the overall Sun Life Compliance strategy and in partnering with business leaders to identify, assess, and mitigate compliance risks.

Atty. Gregorio has considerable experience in Compliance, Business Ethics, Corporate Governance, and Risk Management. She joins Sun Life from Metrobank Card Corporation, where she headed Compliance and Anti-Money Laundering. Prior to joining Metrobank Card, Atty. Gregorio held diverse roles in other companies in Compliance, Legal, Advisory, and Capital Markets. Atty. Gregorio received her Liberal Arts degree Major in Political Science with Minor in Behavioral Sciences from the De La Salle University and Juris Doctor Degree from the Ateneo de Manila University. She was admitted to the Philippine Bar in 1992.

Joel O. Bungabong Internal Auditor

Mr. Bungabong is the Internal Auditor for SLGFI. Concurrently, he is Assistant Vice President, Sun Life Financial Asia, overseeing the Audit Portfolio for all Sun Life business operations in the Philippines, Asia Service Centre and Regional Office and directing Information Technology and Actuarial audits in other countries in Asia. He joined Sun Life as a Systems Audit Manager (acting on a Specialist role) in 2006, and was appointed as Team Leader of the Systems Audit Team in 2008 until his appointment as Audit Head for Sun Life Financial Philippines in 2009. Prior to joining Sun Life, he was an Associate Director in the Technology and Security Risk Services (TSRS) practice of SyCip Gorres Velayo & Co. (SGV), a member practice of Ernst & Young Global.

He is a Certified Public Accountant (CPA) in the Philippines since 1998, a Certified Information Systems Auditor (CISA) since 2002, a Certified Information Security Manager (CISM) since 2008, and a Certified Forensic Accountant (CrFA) since 2012. He acquired his Fellow, Life Management Institute (FLMI) designation in 2011.

Ria V. Mercado Risk Officer (July 2015 To Present)

Ms. Ria Valle Mercado is Risk Officer of SLGFI. Concurrently, she is the Head of Risk Management of Sun Life of Canada (Philippines), Inc.

Ms. Mercado brings a wealth of experience in leading risk and control functions. She joined Sun Life from Deutsche Knowledge Services (DKS), where she was Debt and Client Risk & Control Lead. She was responsible for risk and control initiatives and for proactively identifying and mitigating operations risks through quality assurance initiatives. Prior to DKS, she was with Standard Chartered Bank where she rose from Graduate Associate to AVP – Unit Operational Risk Manager.

Ms. Mercado holds a Master in Business Management degree from the Asian Institute of Management. She is a BS Business Administration graduate of the University of the Philippines in Diliman.

17A

nn

uA

l RepoRt | 2015

Sun life grepa financial, inc.

Cor

pora

te G

over

nanc

e Trust is an important element in the insurance business. In fact, one can say that the insurance business is chiefly based on trust. SLGFI and its Board of Directors are committed to maintaining high standards of governance that will ensure that the trust upon which its business is built will not be compromised. The Board and Management of SLGFI adopt governance policies and practices intended to align the interests of all its stakeholders. We are committed to fully comply with all regulatory standards and reflect in the best way possible best practices that are in the interest of all stakeholders of the Company.

Board of directors

The Board of Directors is primarily responsible for identifying and setting the Company’s strategic directions as well as its Mission and Vision. The Board monitors the implementation of the Company’s strategy and reviews the vision and mission periodically. It is also responsible for assessing the performance of Management in addition to its own performance. It is composed of nine (9) members who are elected for their integrity, competence and high ethical standards. The members are experts in their respective fields of specialization and are found to possess all the qualifications and skills of a director as set forth in the By-Laws and the Manual of Corporate Governance of the Company. Attendance in professional education programs to enrich the skills of the Directors is highly encouraged and when possible, these programs are provided by the Company.

The members of the Board are mandated and the Board ensures that each member devote sufficient time and contributes its skills and knowledge in the performance of their roles and functions.

The three (3) Independent Directors (Messrs. Jose Isidro N. Camacho, Francisco C. Eizmendi, Jr. and Juan B. Santos) are known for their expertise in various fields, both in the private and public sectors. No Independent Director serves on more than five (5) boards of publicly-listed Companies. The Independent Directors ensure that acts and decisions of the Board are made in accordance with the requirements of the regulations and are free from conflicts of interest.

It is the objective of the Company to at all times maintain a well-balanced structure of the Board and the integrity and competence of the members of the Board are unquestionable. This well-balanced structure helps in ensuring that there is free, open, and unhampered

18

Members of the Boardhelen Y. dee Chairman of the Board, Director

Jose isidro N. Camacho Independent Director

Michele Marie Y. dee Director

francisco C. Eizmendi, Jr. Independent Director

Richard S. Lim President, Director

Rizalina G. Mantaring Director

Juan B. Santos Independent Director

Kevin Strain Director

Ambassador Alfonso T. Yuchengco Director

Board of directors Meeting 2015For 2015, SLGFI Board Meetings were held on March 12, June 4, September 3 and December 3 at the Legazpi Room10th Floor, Grepalife Building, 221 Sen. Gil Puyat, Makati City.

Board of Directors Meeting Dates

12 March 2015 04 June 2015 03 September 2015 03 December 2015

helen Y. dee

Jose isidro N. Camacho

Michelle Marie Y. dee

francisco C. Eizmendi, Jr.

fabien Jeudy NA NA NA

Richard S. Lim

Rizalina G. Mantaring

Juan B. Santos

Kevin d. Strain NA

Alfornso T. Yuche ngco

Fabien Jeudy was replaced by Kevin D. Strain on 04 June 2015

Committees

Various Committees created by the Board provide guidance and advice on important issues in their respective areas of concern. The Committees provide support and assistance in relevant functions of the Board as mandated by regulations and the Company’s charter.

Audit Committee Risk Management

Committee Remuneration and

Governance Committee Review Committee for

Related Party Transactions Jose Isidro N.

Camacho, Committee Chairman

Jose Isidro N. Camacho,

Committee Chairman

Helen Y. Dee, Committee Chairman

Francisco C. Eizmendi, Jr. Committee Chairman

Francisco C. Eizmendi, Jr.

Helen Y. Dee Francisco C. Eizmendi, Jr. Jose Isidro N. Camacho

Rizalina G. Mantaring Rizalina G. Mantaring Rizalina G. Mantaring Juan B. Santos

Board Performance Appraisal

An assessment of the performance of the Board of its duties and responsibilities is regularly conducted. This includes self-assessments on (1) performance as an individual director, (2) performance of the Board as a body, and (3) performance of each of the Committees to which the Directors belong.

In 2015, the Directors accomplished the Board Effective Questionnaire and have evaluated themselves, the Board and the Board-Level Committees as fully compliant with all the performance standards required by regulations and policies. The results were reported to the Board. The Board agreed to have the results disclosed in this Report.

19A

nn

uA

l RepoRt | 2015

Sun life grepa financial, inc.

Cor

pora

te S

ocia

l Res

pons

ibili

ty

20

As part of its corporate social responsibility program, SLGFI took part in the “120 Rays of Giving Back” project initiated by Sun Life Financial-Philippines Foundation. The project is the Foundation’s initiative to touch the lives of as many as 120,000 Filipinos as Sun Life Financial celebrates 120 years in the Philippines.

Business units led various donation drives for the benefit of different organizations:

• Story books were donated and a story-telling activity was held at Sun Life’s adopted community, the Legacy of Light Village in Calauan, Laguna;

• Clothes for newborn infants were donated to the Dr. Jose Fabella Memorial Hospital;

• Stuffed toys were gifted to children undergoing treatment in the haematology and hydrocephalus wards of the National Children’s Hospital;

• Denim jeans were donated to Gawad Kalinga’s adopted communities of Barangay Tatalon, Quezon City and Barangay Payatas, Manila;

• Company employees volunteered for Hands-On Manila’s 2015 Servathon, by painting a mural for Children International’s youth center in Amparo Subdivision in Caloocan City.

Engagement

continues to be

SLGFI’s reflection

of its goals and

aspirations,

to encourage

employees to keep

thinking about the

welfare of the larger

communities of

which they are part.

21A

nn

uA

l RepoRt | 2015

Sun life grepa financial, inc.

22

Aud

ited

Fina

ncia

l Sta

tem

ents

iNdEPENdENT AUdiTORS’ REPORT

*SGVFS016293*

INDEPENDENT AUDITORS’ REPORT

The Stockholders and the Board of DirectorsSun Life Grepa Financial, Inc.

Report on the Financial Statements

We have audited the accompanying financial statements of Sun Life Grepa Financial, Inc., whichcomprise the statements of financial position as at December 31, 2015 and 2014, and the statements ofincome, statements of comprehensive income, statements of changes in equity and statements of cashflows for the years ended December 31, 2015 and 2014, and a summary of significant accountingpolicies and other explanatory information.

Management’s Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements inaccordance with Philippine Financial Reporting Standards, and for such internal control asmanagement determines is necessary to enable the preparation of financial statements that are freefrom material misstatement, whether due to fraud or error.

Auditors’ Responsibility

Our responsibility is to express an opinion on these financial statements based on our audits. Weconducted our audits in accordance with Philippine Standards on Auditing. Those standards requirethat we comply with ethical requirements and plan and perform the audits to obtain reasonableassurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosuresin the financial statements. The procedures selected depend on the auditor’s judgment, including theassessment of the risks of material misstatement of the financial statements, whether due to fraud orerror. In making those risk assessments, the auditor considers internal control relevant to the entity’spreparation and fair presentation of the financial statements in order to design audit procedures that areappropriate in the circumstances, but not for the purpose of expressing an opinion on the effectivenessof the entity’s internal control. An audit also includes evaluating the appropriateness of accountingpolicies used and the reasonableness of accounting estimates made by management, as well asevaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis forour audit opinion.

SyCip Gorres Velayo & Co.6760 Ayala Avenue1226 Makati CityPhilippines

Tel: (632) 891 0307Fax: (632) 819 0872ey.com/ph

BOA/PRC Reg. No. 0001, December 14, 2015, valid until December 31, 2018SEC Accreditation No. 0012-FR-4 (Group A), November 10, 2015, valid until November 9, 2018

A member firm of Ernst & Young Global Limited

23Sun life grepa financial, inc.

An

nu

Al Repo

Rt | 2015

*SGVFS016293*

- 2 -

Opinion

In our opinion, the financial statements present fairly, in all material respects, the financial position ofSun Life Grepa Financial, Inc. as at December 31, 2015 and 2014, and their financial performance andtheir cash flows for the years then ended in accordance with Philippine Financial Reporting Standards.

Report on the Supplementary Information Required Under Revenue Regulation 15-2010

Our audits were conducted for the purpose of forming an opinion on the basic financial statementstaken as a whole. The supplementary information required under Revenue Regulation 15-2010 inNote 32 to the financial statements is presented for purposes of filing with the Bureau of InternalRevenue and is not a required part of the basic financial statements. Such information is theresponsibility of the management of Sun Life Grepa Financial, Inc. The information has beensubjected to the auditing procedures applied in our audit of the basic financial statements. In ouropinion, the information is fairly stated in all material respects in relation to the basic financialstatements taken as a whole.

SYCIP GORRES VELAYO & CO.

Bernalette L. RamosPartnerCPA Certificate No. 0091096SEC Accreditation No. 0926-AR-1 (Group A), April 15, 2013, valid until April 14, 2016Tax Identification No. 178-486-666BIR Accreditation No. 08-001998-81-2015, May 12, 2015, valid until May 11, 2018PTR No. 5321681, January 4, 2016, Makati City

March 8, 2016

A member firm of Ernst & Young Global Limited

24

STATEMENTS Of fiNANCiAL POSiTiON

SUN LIFE GREPA FINANCIAL, INC. STATEMENTS OF FINANCIAL POSITION December 31 2015 2014

ASSETS Cash and Cash Equivalents P=1,034,146,139 P=1,009,948,622 Insurance Receivables 93,602,654 67,354,423 Financial Assets Financial assets at fair value through profit or loss Segregated fund assets 22,838,627,326 17,509,426,558 General fund 10,360,531 33,364,431 Available-for-sale financial assets 14,038,811,565 14,276,811,691 Loans and receivables - net 1,033,954,377 1,090,212,579 Investments in Subsidiaries 1,581,080,300 1,581,080,300 Accrued Income 208,859,442 213,623,909 Property and Equipment - net 185,153,440 212,703,987 Other Assets 63,426,634 54,016,898

P=41,088,022,408 P=36,048,543,398

LIABILITIES AND EQUITY

Liabilities Segregated fund liabilities P=22,838,627,326 P=17,509,426,558 Insurance contract liabilities Legal policy reserves 11,983,368,243 11,657,311,314 Policy and contract claims payable 774,097,501 905,323,846 Policyholders’ dividends 167,166,236 153,666,197 Premium deposit fund 341,332,713 389,567,583 Insurance payables 320,260,725 287,349,707 Accounts payable and accrued expenses 166,739,402 178,542,331 Net pension liability 70,823,100 75,254,500 Other liabilities 94,271,045 88,403,498 36,756,686,291 31,244,845,534

Equity Capital stock 350,000,000 350,000,000 Contributed surplus 1,093,545 1,093,545 Revaluation reserve on available-for-sale financial assets 1,366,881,762 2,072,540,715 Actuarial losses on retirement benefit plan (93,876,800) (102,483,500) Retained earnings 2,707,237,610 2,482,547,104 4,331,336,117 4,803,697,864

P=41,088,022,408 P=36,048,543,398

25Sun life grepa financial, inc.

An

nu

Al Repo

Rt | 2015

STATEMENTS Of iNCOME

SUN LIFE GREPA FINANCIAL, INC. STATEMENTS OF INCOME Years Ended December 31 2015 2014

REVENUE Gross premiums on insurance contracts P=10,186,510,750 P=7,081,036,505 Reinsurers’ share of gross premiums on insurance contracts (35,277,391) (35,776,973) Insurance premiums net of reinsurance 10,151,233,359 7,045,259,532 Investment income - net 599,045,344 1,909,880,358 Fee income 648,719,444 510,883,138 Foreign exchange gain - net 159,226,412 34,323,034 Other income 59,575,751 20,224,492 Investment and other income 1,466,566,951 2,475,311,022 Total revenue 11,617,800,310 9,520,570,554

BENEFITS AND EXPENSES Change in variable unit-linked segregated fund liabilities 5,262,590,663 4,727,407,542 Insurance benefits and claims incurred 4,224,272,508 3,165,432,360 Reinsurers’ share in insurance benefits and claims incurred (2,549,113) (6,785,752) Gross change in legal policy reserves 325,682,844 115,093,740 Reinsurers’ share of gross change in legal policy reserves 374,085 (559,215) Net insurance benefits and claims 9,810,370,987 8,000,588,675 General and administrative expenses 752,400,654 685,791,868 Commissions and other direct expenses 681,589,594 513,745,656 Insurance taxes 29,121,195 30,559,186 Interest expense 16,703,717 30,059,894 Expenses 1,479,815,160 1,260,156,604 Total benefits and expenses 11,290,186,147 9,260,745,279

INCOME BEFORE INCOME TAX 327,614,163 259,825,275

PROVISION FOR INCOME TAX 102,923,657 96,605,439

NET INCOME P=224,690,506 P=163,219,836

26

STATEMENTS Of COMPREhENSiVE iNCOME

SUN LIFE GREPA FINANCIAL, INC. STATEMENTS OF COMPREHENSIVE INCOME Years Ended December 31 2015 2014

NET INCOME P=224,690,506 P=163,219,836

OTHER COMPREHENSIVE INCOME (LOSS) Item that will be reclassified to profit and loss: Fair value gains (loss) on available-for-sale financial assets (545,904,934) 391,268,776 Transfers to profit and loss (159,754,019) (77,297,437) (705,658,953) 313,971,339 Item that will not be reclassified to profit and loss: Net remeasurement gain (loss) on defined benefit plan 8,606,700 (9,172,800) (697,052,253) 304,798,539

TOTAL COMPREHENSIVE INCOME (LOSS) (P=472,361,747) P=468,018,375

27Sun life grepa financial, inc.

An

nu

Al Repo

Rt | 2015

STATEMENTS Of ChANGES iN EqUiTY

SUN LIFE GREPA FINANCIAL, INC. STATEMENTS OF CHANGES IN EQUITY

Capital Stock

Contributed

Surplus

Revaluation Reserve on

Available-for-sale Financial Assets

Actuarial Losses on

Retirement Benefit Plan

Retained Earnings Total

As at January 1, 2015 P=350,000,000 P=1,093,545 P=2,072,540,715 (P=102,483,500) P=2,482,547,104 P=4,803,697,864 Net income – – – – 224,690,506 224,690,506 Other comprehensive income (loss) – – (705,658,953) 8,606,700 – (697,052,253) Total comprehensive income (loss) – – (705,658,953) 8,606,700 224,690,506 (472,361,747)

As at December 31, 2015 P=350,000,000 P=1,093,545 P=1,366,881,762 (P=93,876,800) P=2,707,237,610 P=4,331,336,117

As at January 1, 2014 P=350,000,000 P=1,093,545 P=1,758,569,376 (P=93,310,700) P=2,319,327,268 P=4,335,679,489 Net income – – – – 163,219,836 163,219,836 Other comprehensive income (loss) – – 313,971,339 (9,172,800) – 304,798,539 Total comprehensive income (loss) – – 313,971,339 (9,172,800) 163,219,836 468,018,375

As at December 31, 2014 P=350,000,000 P=1,093,545 P=2,072,540,715 (P=102,483,500) P=2,482,547,104 P=4,803,697,864

28

SUN LIFE GREPA FINANCIAL, INC. STATEMENTS OF CHANGES IN EQUITY

Capital Stock

Contributed

Surplus

Revaluation Reserve on

Available-for-sale Financial Assets

Actuarial Losses on

Retirement Benefit Plan

Retained Earnings Total

As at January 1, 2015 P=350,000,000 P=1,093,545 P=2,072,540,715 (P=102,483,500) P=2,482,547,104 P=4,803,697,864 Net income – – – – 224,690,506 224,690,506 Other comprehensive income (loss) – – (705,658,953) 8,606,700 – (697,052,253) Total comprehensive income (loss) – – (705,658,953) 8,606,700 224,690,506 (472,361,747)

As at December 31, 2015 P=350,000,000 P=1,093,545 P=1,366,881,762 (P=93,876,800) P=2,707,237,610 P=4,331,336,117

As at January 1, 2014 P=350,000,000 P=1,093,545 P=1,758,569,376 (P=93,310,700) P=2,319,327,268 P=4,335,679,489 Net income – – – – 163,219,836 163,219,836 Other comprehensive income (loss) – – 313,971,339 (9,172,800) – 304,798,539 Total comprehensive income (loss) – – 313,971,339 (9,172,800) 163,219,836 468,018,375

As at December 31, 2014 P=350,000,000 P=1,093,545 P=2,072,540,715 (P=102,483,500) P=2,482,547,104 P=4,803,697,864

29Sun life grepa financial, inc.

An

nu

Al Repo

Rt | 2015

STATEMENTS Of CASh fLOwS

SUN LIFE GREPA FINANCIAL, INC. STATEMENTS OF CASH FLOWS Years Ended December 31 2015 2014

CASH FLOWS FROM OPERATING ACTIVITIES Income before income tax P=327,614,163 P=259,825,275 Adjustments for: Changes in legal policy reserves 326,056,929 114,534,525 Amortization of bond premium 75,045,195 100,356,017 Provision for impairment loss on loans and receivables

1,542,471 1,715,764 Depreciation and amortization 41,270,212 39,080,114 Fair value losses on financial assets at fair value through profit

or loss 2,268,173 2,265,525 Gain on sale of property and equipment (61,168) (4,334,067) Gain on sale of available-for-sale financial assets (172,065,240) (77,980,291) Provision for impairment loss on available-for-sale financial assets 12,311,222 682,854 Dividend income (13,521,775) (17,549,382) Unrealized foreign exchange gain - net 48,557,311 34,939,717 Interest income (794,524,594) (785,403,720) Operating loss before changes in working capital (145,507,101) (331,867,669) Changes in operating assets and liabilities: Decrease (increase) in: Segregated fund assets (5,329,200,768) (4,727,407,542) Insurance receivables (26,248,231) 12,226,993 Loans and receivables 138,925,841 209,781,576 Other assets (9,409,736) 14,456,404 Increase (decrease) in: Segregated fund liabilities 5,329,200,768 4,727,407,542 Policy and contract claims payable (131,226,345) (25,924,008) Policyholders’ dividends 13,500,039 (33,755,842) Premium deposit fund (48,234,870) (196,387,811) Insurance payables 32,911,018 29,931,535 Accounts payable and accrued expenses (11,802,929) 63,057,114 Net pension liability (13,038,100) 4,776,700 Other liabilities 5,867,547 83,904,398 Cash flows used in operations (194,262,867) (169,800,610) Income tax paid (102,923,657) (96,605,439) Net cash flows used in operating activities (297,186,524) (266,406,049) CASH FLOWS FROM INVESTING ACTIVITIES Interest received 715,197,953 797,611,864 Dividend received 13,402,773 17,680,903 Acquisitions of: Available-for-sale financial assets (3,252,137,612) (1,018,357,578) Property and equipment (16,621,567) (113,505,750) Proceeds from sale/maturities of: Available-for-sale financial assets 2,838,027,391 524,982,482 Financial assets at fair value through profit or loss 20,552,033 372,170,000 Property and equipment 2,963,070 5,448,755 Net cash flows provided by investing activities 321,384,041 586,030,676 NET INCREASE IN CASH AND CASH EQUIVALENTS 24,197,517 319,624,627 CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 1,009,948,622 690,323,995 CASH AND CASH EQUIVALENTS AT END OF YEAR P=1,034,146,139 P=1,009,948,622

30

AUdiT & NON-AUdiT fEES

As approved by the Board, the Company engages the services of Sycip Gorres Velayo & Co., a local member firm of Ernst & Young Global Limited, as its external auditor. The audit fees of Sycip Gorres Velayo & Co. for 2015 amounted to Php1.29 million. There were no other fees paid to the firm during the same year other than audit fees.

ShAREhOLdERS’ diVidENd POLiCY

Sun Life Grepa satisfies the requirement of local regulations, and when prudent and appropriate, the Company returns through dividends and other distributions, the excess capital to its parent companies.

KEY RiSKS

Following are the significant risks identified by management that may impact the achievement of the Company’s business goals. These are actively monitored and assessed on an ongoing basis to ensure that risks are properly mitigated.

Regulatory Risks of more aggressive regulators in addition to significant changes in laws and regulations that can adversely affect theCompany’s business, decision-making, workloads and costs

Market Risks related to equity downturn, market volatility and low interest rates

distribution Strategic risks related to the distribution model for products, channel conflict/overlap and alignment of strategicdistribution partners with the Company’s strategies

Sales dynamics: Customer and Competitor BehaviorRisks of failure or inability to achieve market share growth and sales plan due to changing sales dynamics involving customerand competitors.

NON-fiNANCiAL PERfORMANCE iNdiCATORS

SLGFI posted a premium income of P10.15Billion in 2015, a record 44% up from the previous year’s level. With that, SLGFI ranks as the 8th largest in the industry out of more than 30 local players and is considered the fastest growing life insurer within the Insurance Commission’s top 10 list.

whiSTLE BLOwER ANd BREACh POLiCY

The Whistle Blower program of the company provides a formal mechanism and channel for directors, officers, employees, suppliers, business partners, contractors and sub-contractors, and other third parties to raise serious concerns about a perceived wrongdoing or questionable or unethical behavior or transaction, malpractice, or any risk involving the company or any of its officers and employees. SLGFI strictly prohibits any form of retaliation against those reporting concerns in good faith and guarantees that the whistle blower will be shielded or free from reprisals, harassment, or disciplinary action.

When you suspect a breach of the SLGFI Code of Business conduct, the same must be promptly reported to the Chief Compliance Officer, Head of Human Resources, or the General Counsel. The following Ethics Hotline numbers are also available 24 hours a day.

Philippines Dial 105 11 (cell phone - no “02” prefix) Dial 1010-5511 (land line)

For Filipino Dial 105-12 (cell phone - no “02” prefix) Dial 010-5511-10 (land line)

You’ll be prompted to dial the Alertline number 800 481-6966 For Filipino, please select “9” The whistle blower may also submit his or her report or concern in writing directly to the Chief Compliance Officer, or by email to: slf_code_of_business_conduct@sunlife.com.

31Sun life grepa financial, inc.

An

nu

Al Repo

Rt | 2015

______________________________

METRO MANiLA

• Binondo5/F Yuchengco Tower, 500 Quintin Paredes St., Binondo, Manila CityTel: 242-8888 loc. 8307/8308Fax: 242-8888 loc 8316

• quezon City AC2/F Room 2015 Pacific Corporate Center, 131 West Ave., Brgy. Bungad Quezon CityTel: 376-4724 to 29; 376-4719Telefax: 376-4731

• Makati Central Sales Office (MACSO 1)4/F Grepalife Bldg. 221 Sen. Gil. Puyat Ave., Makati City Bungad Quezon CityTel: 844-1305; 845-6231

• Makati Central Sales Office (MACSO 2)4/F Grepalife Bldg. 221 Sen. Gil. Puyat Ave., Makati CityTel: 845-6271; 817-6294

______________________________

LUZON

• Baguio3/F RCBC Bldg., 263 Session Road Baguio CityTelefax: (074) 442-3590

• La Union2/F Manarang/Balingit Bldg., Quezon Ave., National Highway San Fernando City, La UnionTelefax: (072) 888-3240

• dagupan2/F Lenox Hotel, ANFE Bldg.Rizal St., Dagupan CityTel: (075) 522-0796Telefax: (075) 523-7667

• Cabanatuan2/F RCBC Bldg., P. Burgos Ave. Cabanatuan CityTelefax: (044) 600-4544

• Pampanga2/F Hiz-san Bldg., MacArthur Highway, DoloresSan Fernando City, PampangaTelefax: (045) 961-2214

• Malolos2/F Rosario Bldg., Old Sumapa MacArthur Highway, Malolos City BulacanTel: (044) 790-6928

• Calapan3/F L&A Panaligan Bldg. J.P. Rizal St., Calapan CityOriental MindoroTelefax: (043) 288-1677

• San Pablo2/F Vitra Bldg. P. Alcantara St., San Pablo City, LagunaTelefax: (049) 562-8052

______________________________

ViSAYAS

• iloilo2/F Carlos Young Bldg., Solis St., Iloilo CityTel: (033) 335-0107; 337-8054Fax: (033) 335-0082

• BacolodMalayan House cor. Lacson & Third St.s, Bacolod CityTel: (034) 433-9216Fax: (034) 433-6389

• Cebu3/F Grepalife Tower, Fuente Osmena Capitol Sit, Cebu CityTel: (032) 255-4026; 254-2568Fax: (032) 253-5285

• TaclobanOscar Dy Bldg., P. Paterno cor. Zamora Sts., Tacloban CityTel: (053) 321-3769; 523-6285Fax: (053) 325-8947

_____________________________

MiNdANAO

• davao 1G/F Plaza de Luisa Commercial Complex No. 140 Ramon Magsaysay Ave.Davao CityTel: (082) 227-6469; 221-2370Fax: (082) 221-7388

• davao 2G/F Plaza de Luisa Commercial Complex No. 140 Ramon Magsaysay Ave. Davao CityTel: (082) 227-6469; 221-2370Fax: (082) 221-7388

• Marbel2/F RCBC Bldg., Roxas St. cor. Gen. Santos Drive, Koronadal CityTelefax: (083) 22-2644

• General Santos2/F RCBC Dadiangas Branch Bldg. Pioneer Ave., General Santos CityTel: (083) 55-3186Telefax: (083) 552-3472

• Butuan2/F Midtown Arcade J.C. Aquino Ave. cor. Ochoa Ave. Butuan CityTelefax: (085) 341-4766

• Surigao2/F Danaque Bldg.Burgos St., Surigao CityTelefax: (086) 826-4014

• Ozamis2/F Saavedra Bldg., Rizal Ave. cor. Washington St.sOzamis CityTelefax: Telefax: (088) 521-0261

• Zamboanga2/F HC Bldg., Veterans Ave. Zamboanga CityTel: (062) 992-5323Fax: (062) 991-4037

Bran

ches

32

221 Sen. Gil Puyat Ave., Makati City Tel. No.: (632) 849-9633

www.sunlifegrepa.com