Sun Life provides update on its strategic and financial objectivesBy The IJ Staff | March 27 2019 11:30AM
Sun Life Financial has provided investors and analysts with an update on its strategic priorities, reaffirming its financial objectives and efforts to meet financial goals.
Its medium-term financial objectives include annual underlying earnings per share (EPS) growth of 8% to 10%.
The insurer said it is also moving ahead with plans in each of its four pillars of business.
“We've continued to leverage our diversified business model – strong offence and defence – and a robust balance sheet. This has allowed us to deliver on our strategic priorities, including our client for life focus and advancing digital transformation across all of our business pillars,” said Dean Connor, president and CEO of Sun Life Financial. “Our history of strong execution has generated consistent top and bottom line growth and will play a strong role in helping us achieve our medium-term financial objectives.”
The company has highlighted some of its strategic priorities, such as advancing its leadership position, shaping the market through digital innovation and financial discipline focused on prioritization, which it says will drive growth; significant improvements in its U.S. group benefits division driven by business growth, loss ratio improvements, expense management and progress on integration.
Sun Life said it has also established itself in some of Asia’s fastest-growing markets, increasing bank distribution, growing the number and quality of its advisors and experimenting with new distribution channels.
Its global asset management branch (MFS) continues to deliver consistent long-term investment returns, it said. At the same time Sun Life Investment Management is expanding capabilities across asset classes.
"Across our four pillars, we are actively embracing digital, data and analytics to be more proactive and personal with our clients,” said Connor. “You see examples of that in the relationships we've built with our innovative partners, in our highly rated mobile apps, and in how we reach out to and speak with our clients. The end result of these innovations is building better client experiences that ultimately drive positive business outcomes."