Profile: Sun Life Financial Inc. (SLF)

Sun Life Financial Inc. (SLF Inc.), incorporated on August 5, 1999, is an international financial services organization. The Company offers a range of life and health insurance products and services, savings, investment management, retirement, and pension products and services to both individual and corporate customers. SLF Inc. manages its operations in five business segments: Sun Life Financial Canada (SLF Canada), Sun Life Financial United States (SLF U.S.), MFS Investment Management (MFS), Sun Life Financial Asia (SLF Asia), and Corporate. On December 12, 2008, the Company sold its 37% interest in CI Financial Income Fund to The Bank of Nova Scotia (Scotiabank). On February 29, 2008, SLF Inc. sold Sun Life Retirement Services (U.S.), Inc.

Sun Life Financial Canada

As of December 31, 2008, SLF Canada’s business units included Individual Insurance & Investments, Group Benefits and Group Wealth, which offered a range of protection and wealth accumulation products and services to individuals and corporate clients. SLF Canada also has investments in the Canadian asset management sector. Individual Insurance & Investments principal insurance products include universal life, term life, permanent life, critical illness, long-term care and personal health insurance. Its principal savings and retirement products include accumulation annuities, payout annuities and segregated funds, including the SunWise Elite Plus funds. In addition, the Sun Life Financial Advisor Sales Force distributes mutual funds marketed primarily by CI Financial.

SLF Canada’s Group Benefits business unit is a provider of group life and health insurance products in Canada. The business unit provides life, dental, drug, extended health care, and disability and critical illness benefit programs to employers. SLF Canada’s Group Wealth business unit consists of the GRS operation, as well as the Company’s 67% interest in McLean Budden Limited, an institutional provider of investment management services in Canada. GRS is a provider of contribution plans in Canada. GRS also offers other group retirement services and products, including investment only segregated funds and fixed rate annuities, group life annuities and pensioner payroll services.

Sun Life Financial United States

SLF U.S. offers protection and wealth accumulation products to individuals and businesses through its three business units. The Annuities business unit offers variable annuities, fixed and fixed index annuities and investment management services. The Individual Insurance business unit offers protection products to individuals and small business owners, such as single and joint universal life, variable universal life and corporate-owned life insurance (COLI). The Employee Benefits Group (EBG) offers group life insurance, short-term and long-term disability insurance, medical stop-loss insurance, dental insurance and voluntary worksite products.

The SLF U.S. Annuities business unit provides fixed, variable and fixed index annuity products and investment management services. SLF U.S.’s Individual Insurance business unit offers protection products to individuals and small business owners, including single and joint universal life, variable universal life and COLI. The business unit accesses its target customers through brokerage general agents and third-party intermediaries. SLF U.S.’s Employee Benefits Group business unit provides group life, long-term and short-term disability, medical stop-loss and dental insurance to over 8 million group plan members. It provides products and services to meet the group insurance needs of small to medium-sized companies, including voluntary worksite products.

MFS Investment Management

MFS is a global asset management company, which offers products and services that address the requirements of investors over time. Individual investors have access to MFS advisory services through a range of financial products, including mutual funds, variable annuities, separately managed accounts, college and retirement savings plans, and offshore products. These products are distributed through financial intermediaries that provide sales support, product administration and client services. MFS services institutional clients by providing asset management services for corporate retirement plans, separate accounts, public or government funds and insurance company assets. Institutional clients are serviced through a direct sales force and a network of independent consultants.

Sun Life Financial Asia

SLF Asia operates through subsidiaries in the Philippines, Hong Kong and Indonesia and through joint ventures with local partners in India and China. Individual life insurance products and services are offered in all five markets, with group life insurance being offered in India. Pensions and retirement products and services are offered in the Philippines, Hong Kong, China and India, and mutual funds are sold in the Philippines and India. These protection and wealth accumulation products are distributed to middle and upper-income individuals, employer-employee groups and clients through multi-distribution channels.

The Company’s Hong Kong operations offer a range of products to address protection and savings. Individual life and health insurance, mandatory provident funds (the government-legislated pension plan) and pension administration are offered to individuals and businesses through a multi-channel distribution system that includes a career agency force, bancassurance and independent financial advisors.

Sun Life Financial’s Philippines operations distribute a range of protection and savings products through their career agent sales force. The Company offers individual life and health insurance products, savings, as well as mutual funds to individuals and institutions.

Birla Sun Life, the Company’s insurance joint venture with the Aditya Birla Group in India, provides a range of individual and group protection, savings and retirement products through a multi-channel distribution network, including a career agent sales force, bancassurance arrangements, brokers and worksite marketing. Birla Sun Life Asset Management Company Limited, the Company’s asset management joint venture in India, offers a range of mutual fund products to individuals and institutional investors. Independent financial advisors and banks distribute Birla Sun Life mutual funds to the retail sector, while direct distribution serves Corporate accounts.

Sun Life Everbright Insurance Company Limited, the Company’s joint venture with the Everbright Group in China, operates a multi-distribution model that combines a direct career agency, financial consultants, telemarketing and several bancassurance alliances to sell individual life and health insurance, and savings products. SLF Asia’s Indonesian operations provide individual life and health insurance to individuals through a career agent sales force, bancassurance partners and telemarketing.

Corporate

The Corporate segment includes the results of SLF U.K. and Corporate Support operations that include the Company’s reinsurance businesses, as well as investment income, expenses, capital and other items not allocated to Sun Life Financial’s other business segments. The SLF U.K. in-force life and pension policies constitute a run-off block of business.