Sun Life Financial Inc. is increasing its focus on partnerships as it looks to further its expansion in Asian markets. Sun Life Financial Inc. logo is shown at the company's annual general meeting in Toronto on Wednesday, May 6, 2015.THE CANADIAN PRESS/Chris Young
TORONTO – Sun Life Financial Inc. is increasing its focus on partnerships as it looks to further its expansion in Asian markets.
The insurance giant says it has created the new role of vice-chair of strategic partnerships, and named Ingrid Johnson, current president of Sun Life Asia, to the role.
Sun Life chief executive Kevin Strain says the company is seeing more opportunities to leverage partnerships globally, whether it’s with a regional bank or a digital startup.
In the third quarter, the company launched its 15-year partnership with Dah Sing Bank in Hong Kong that helped lead to a boost in sales.
The reopening of the border with China also helped boost its Asia division with a big boost in individual insurance sales in Hong Kong .
Overall, Sun Life reported a net income of $871 million, up from $111 million a year earlier thanks in part to favourable market-related impacts from interest rates.
This report by The Canadian Press was first published Nov. 14, 2023.
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