Sun Life partners with Go Negosyo to boost MSMEs

SUN LIFE of Canada (Philippines), Inc. has partnered with Go Negosyo to create financial solutions for micro, small, and medium enterprises (MSMEs), it said on Monday.

“This collaboration focuses on guiding MSMEs towards a brighter future, creating an ecosystem that nurtures entrepreneurship, fosters financial inclusion, and builds a stronger Filipino business landscape. Sun Life and Go Negosyo will work together to develop financial solutions tailored to the unique needs of MSMEs and provide them with access to capital, insurance protection, and financial planning expertise,” Sun Life Philippines said in a statement.

The life insurer will also participate in Go Negosyo’s 3M or Mentorship, Money, and Markets on Wheels initiative, which is a mobile entrepreneurship caravan that brings business support services directly to MSMEs nationwide. Its financial advisors will be present at these events for consultations with entrepreneurs.

Sun Life Philippines and Go Negosyo recently signed a memorandum of agreement to formalize the tie-up.

“Securing the future of our negosyantes (entrepreneurs) is an important focus for us at Sun Life because we believe that they are the backbone of our economy,” Sun Life Philippines Chief Client Experience and Marketing Officer Carla Gonzalez-Chong said. “This is why our partnership with Go Negosyo is a natural fit. We share a common vision of a nation where entrepreneurship thrives, and where every Filipino is given the opportunity to reach their full potential.”

“Go Negosyo is grateful to Sun Life Philippines for doing its part in helping our MSMEs,” Go Negosyo Founder Joey A. Concepcion III said. “Access to capital, as well as financial literacy, is an important pillar of successful entrepreneurship, and with this collaboration, we will be able to better address a learning gap that is especially common among aspiring entrepreneurs.”

Sun Life Philippines’ premium income stood at P55.79 billion last year, while its net income was at P8.8 billion, data from the Insurance Commission showed. It was the top-performing life insurer in the country in terms of both premium income and net profit in 2023. — AMCS