Sun Life of Canada (Philippines) Inc. is gearing up for expansion in Visayas and Mindanao amid plans to bolster its ranks of financial advisors.

Sun Life, the oldest life insurance company in the country, said the expansion would involve opening new offices in key provincial cities in three to five years.

"Acquiring new clients while also deepening our relationship with the ones we are currently serving both lead toward our vision of a brighter future for more Filipinos," Sun Life president Alex Narciso said in a statement.

"And with a stronger presence in Visayas and Mindanao, we will be in a better position to make this happen," he added.

The expansion push would also require the firm to recruit more financial advisors to sell its products.

"Not only will this ensure that there will be more champions of the company's purpose, this will also provide career and business options for those who may have been displaced by the economic impact of the pandemic," Narciso said.

Sun Life noted an increasing number among the young joining its ranks, a demographic it seeks to expand.Sun Life expects to sustain growth from sales to business owners, professionals, high net worth clients and overseas Filipino workers. —Miguel R. Camus INQ