SLF International becomes part of SLF Asia pillar
effective Q1 2018
TORONTO, April 3, 2018 /CNW/ - Sun Life Financial Inc.
("Sun Life", "SLF") (TSX:SLF) (NYSE:SLF) announced today that it is
strengthening its business in Asia
by aligning its International high net worth life insurance
business with its SLF Asia business group. Currently, the
International business reports into the U.S. business group.
"Our SLF International business helps high net worth Clients
transfer wealth to future generations through life insurance, and
given that those Clients are primarily in Asia, it is best aligned with our Asia pillar," said Dean Connor, President & CEO, Sun Life
Financial. "By combining our SLF Asia and International
capabilities we expect to accelerate the development of our high
net worth insurance business in Asia. This change also reflects the strong
growth and development of Sun Life U.S., which will focus on our
growing U.S. group benefits business and managing our in-force
block of U.S. individual insurance."
It is business as usual for Clients and there are no changes to
SLF International operations, products or services resulting from
this announcement.
Effective Q1 2018, the financial and operating results of SLF
International will be reported as part of the SLF Asia business
group (previously part of SLF U.S.). To assist investors and
research analysts with the reporting transition, an updated Q4 2017
supplemental information package will be available on sunlife.com
that illustrates the new reporting segments for SLF Asia and SLF
U.S.
Forward-Looking Statements
From time to time, Sun Life
makes written or oral forward-looking statements within the meaning
of certain securities laws, including applicable Canadian
securities legislation and the "safe harbour" provisions of the
United States Private Securities Litigation Reform Act of 1995.
Forward-looking statements contained in this news release include
(i) statements relating to the development of our high net worth
insurance business in Asia, (iii)
statements relating to the growth and development of Sun Life U.S.,
(iii) statements that are predictive in nature or that depend upon
or refer to future events or conditions, and (iv) statements that
include words such as "expect" and "will" and similar expressions.
Forward-looking statements include the information concerning our
possible or assumed future results of operations. These statements
represent our current expectations, estimates and projections
regarding future events and are not historical facts.
Forward-looking statements are not a guarantee of future
performance and involve risks and uncertainties that are difficult
to predict. Future results and shareholder value may differ
materially from those expressed in these forward-looking statements
due to, among other factors, the matters set out in Sun Life's most
recently filed Annual Information Form and Management's Discussion
and Analysis, and other filings with Canadian and U.S. securities
regulators, which are available for review
at www.sedar.com and www.sec.gov,
respectively.
Sun Life does not undertake any obligation to update or revise
its forward-looking statements to reflect events or circumstances
after the date of this news release or to reflect the occurrence of
unanticipated events, except as required by law.
About Sun Life Financial
Sun Life Financial is a
leading international financial services organization providing
insurance, wealth and asset management solutions to individual and
corporate Clients. Sun Life Financial has 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 December
31, 2017, Sun Life Financial had total assets under
management of $975 billion. For more
information please visit www.sunlife.com.
Sun Life Financial Inc. trades on the Toronto (TSX), New
York (NYSE) and Philippine (PSE) stock exchanges under the
ticker symbol SLF.
Note to editors: All figures in Canadian dollars
Media Relations
Contact:
Irene Poon
Manager, Media & PR
Corporate Communications
T. 647-256-2596
irene.poon@sunlife.com
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Investor Relations
Contact:
Greg Dilworth
Vice-President
Investor Relations
T. 416-979-6230
investor.relations@sunlife.com
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SOURCE Sun Life Financial Inc.