Sun Life appoints Luc Nhon Ly as next CEO of Sun Life Vietnam

HONG KONG,Nov. 9,2021 -- Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) today announced that Luc Nhon Ly has joined as the Chief Executive Officer of Sun Life Vietnam. The appointment follows the return of former Vietnam CEO Larry Madge to Sun Life's corporate office in Toronto.

Luc brings more than 26 years of expertise to Sun Life in a career spanning executive,finance,strategy,and actuarial roles across Vietnam,Myanmar and Canada. He joins Sun Life from AIA where he was most recently Chief Executive Officer of AIA Myanmar and prior to that spent 12 years at AIA Vietnam,mostly as the Chief Financial Officer. He has also held roles with ACE Life in Vietnam and Canada Life in Toronto and L'Industrielle-Alliance in Montreal.

Luc is reporting to Ingrid Johnson,Sun Life Asia President,and is a member of the Sun Life Asia Executive team.

"We are very excited to welcome Luc to Sun Life," said Kevin Strain,Sun Life President and Chief Executive Officer,"Luc joins our Vietnam business at a moment of immense growth and potential. Over the past five years our Client base in Vietnam has more than tripled and sales have more than quadrupled. Luc is a strategic and entrepreneurial leader and highly respected veteran in the Vietnamese market with a proven track record of success. I am confident he will be a tremendous asset to lead the next phase of our journey in Vietnam as we help even more Clients achieve lifetime financial security and live healthier lives."

"I'm excited to be joining Sun Life at a time where we see huge opportunities in Vietnam," said Luc Nhon Ly,Chief Executive Officer of Sun Life Vietnam,"My ambition is to make Sun Life a best in class insurer in Vietnam,known for our innovative and passionate people who are adding a new energy to what we do. It's not a small goal,but Vietnam has a lot of talent and is growing very strongly,so this is the right time and place for us to be impactful."

Sun Life Vietnam achieved sales growth of 564% in the first half of 2021,with significant growth across its agency,bancassurance,and alternative partnership channels.

Luc holds a Bachelor in Actuarial Science and a Master in Statistical Science from the Université de Montréal. He is a Fellow of the Society of Actuaries and the Canadian Institute of Actuaries.

About Sun Life

Sun Life is a leading international financial services organization providing insurance,wealth and asset management solutions to individual and corporate Clients. Sun Life has operations in a number of markets worldwide,including Canada,the United States,the United Kingdom,Ireland,Hong Kong,the Philippines,Japan,Indonesia,India,mainland China,Australia,Singapore,Vietnam,Malaysia and Bermuda. As of September 30,2021,Sun Life had total assets under management of $1.39 trillion. For more information please visit www.sunlife.com.

Sun Life Financial Inc. trades on the Toronto (TSX),New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.

Note to editors: All figures in Canadian dollars