Sun Life Financial announced April 3 that it is aligning its international high net worth life insurance business with its SLF Asia business group. Presently, the insurer’s International business reports to its 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 and 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."
Business as usual
Sun Life says it will be business as usual for its clients and that there will be no changes to SLF International operations, products or services resulting from this decision.