| Copyright: | Business Wire |
| Source: | Business Wire |
| Wordcount: | unknown |
Company’s Financial Strength and New Distribution Team Drive Sales
Across Financial Services Industry in 3Q 2009 WELLESLEY, Mass.--(BUSINESS WIRE)--
The U.S. division of Sun Life Financial Inc. (NYSE: SLF, TSX: SLF) today
announced that its variable annuity (VA) sales for the first nine months
of 2009 rose 64%, well above the Morningstar/MARC Industry average of
-22.9% for the same time period when compared to the first three
quarters of 2008. Sun Life also announced its third quarter VA sales
totaled $1.08 billion, a 30.4% increase from the previous quarter and
the company captured a 3.5% market share for the third quarter, its
highest market share in the U.S. in over seven years. Sun Life Financial
also moved up six positions to rank ninth in new VA sales for the
quarter, and its VA assets are up 16% compared to the prior quarter.
“While other insurance carriers are scaling back their VA operations, we
continue to push forward and remain fully committed to the VA industry,”
said Terry Mullen, President of Sun Life Financial Distributors. “We
have greatly benefited from Sun Life Financial’s history of strong risk
management and financial strength, and the investments we’ve made in
revamping our distribution with top producers have resulted in higher
productivity and a rising market position.”
Sun Life Financial continues to increase its VA sales against the
industry average in the three leading financial distribution channels:
Wirehouses
(dollars in millions)
3Q YTD 2008
3Q YTD 2009
Percentage Gain/Loss
Industry Total
$14,409.0
$10,700.7
-25.7%
Sun Life Financial
$480.3
$1,030.9
+114.6%Independent Firms
(dollars in millions)
3Q YTD 2008
3Q YTD 2009
Percentage Gain/Loss
Industry Total
$42,612.4
$33,707.9
-20.9%
Sun Life Financial
$537.6
$970.8
+80.6%Banks
(dollars in millions)
3Q YTD 2008
3Q YTD 2009
Percentage Gain/Loss
Industry Total
$15,080.4
$9,278.6
-38.5%
Sun Life Financial
$306.7
$373.1
+21.6 %Note: All data from Morningstar/MARCAbout Sun Life Financial
Sun Life Financial is a leading international financial services
organization providing a diverse range of protection and wealth
accumulation products and services to individuals and corporate
customers. Chartered in 1865, Sun Life Financial and its partners today
have operations in key markets worldwide, including Canada, the United
States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan,
Indonesia, India, China and Bermuda. As of Sept. 30, 2009, the Sun Life
Financial group of companies had total assets under management of US
$385.3 billion.
Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and
Philippine (PSE) stock exchanges under ticker symbol SLF. Visit Sun Life
Financial’s website at www.sunlife.com/us.
Sun Life FinancialDavid Jacobson, 781-446-1955david.jacobson@sunlife.com
Source: Sun Life Financial
