Sun Life Grepa Financial, Inc. is a joint venture company borne out of a partnership between the Yuchengco Group of Companies and Sun Life Financial-Philippines. The joint venture agreement, signed on October 24, 2011, involves Sun Life's acquisition of 49% of Grepalife which in turn enters into an exclusive cooperation agreement with the Rizal Commercial Banking Corporation (RCBC). This agreement with RCBC allows Sun Life to gain access to the bank's extensive sales network of over 350 branches and over 2.5 million customers nationwide. Sun Life Grepa Financial shall operate as a separate entity from Sun Life Financial-Philippines. As it is a union of two strong brands, Sun Life Grepa Financial, Inc, (SLGFI) is envisioned to bring out its full potential and rank among the top players of the life insurance industry. After all, it comes from a merging of distinct brand personalities which have their own strengths and global recognition. Grepalife was established in 1954 and has evolved to be one of the industry's leaders. It is the flagship life insurance firm of the Yuchengco Group of Companies (YGC), one of Southeast Asia's largest conglomerates with over 90 companies, spanning diverse business interests such as banking, insurance, automotive dealership, construction and engineering, education, travel services, information technology, arts and culture, and marketing services. Sun Life Financial, on the other hand, has been a top player in the Philippine market for over 117 years now and has continued to be so despite changes in the 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 wealth accumulation and protection products and services to individuals and corporate customers. Tracing its roots back to 1865, Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda.