Sun Life Financial Inc. · TSX:SLF
Sun Life Financial — Q4 2010 Earnings Presentation
9 slides from Sun Life Financial's earnings presentation, Feb 17, 2011
Slide 1: 2010 Financial and Operating Results for the period ended December 31, 2010
2010 Financial and Operating Results for the period ended December 31, 2010 Sun Life Financial Inc. (unaudited) February 17, 2011 Forward-Looking Information Certain information in this document, including information relating to Sun Life Financial’s strategies and other statements that are predicti
Slide 2: Highlights
2010 Donald A. Stewart Chief Executive Officer Highlights Q4 2010 Q4 2009 Q3 2010 Net Income $508 $296 $453 (C$ millions) Diluted EPS $0.88 $0.52 $0.79 ROE 12 4% 12.4% 7 6% 7.6% 11 2% 11.2% • Earnings for the full year 2010 of $1,583 million, compared to $534 million in 2009 • Record sales in 2010 –
Slide 3: Premiums and Deposits; SLF Canada
Premiums and Deposits (C$ millions)) 24,877 23,875 3 933 3,933 3,887 3,462 3,523 6 834 6,834 7,091 93 4 9,374 10 648 10,648 Q4'09 Q4 09 Q4'10 Q4 10 Managed Funds Mutual Funds Wealth Products * Life and Health * Includes segregated funds, fixed products and annuities 5 Sun Life Financial SLF Canada S
Slide 4: SLF U.S. and MFS Investment Management
SLF U.S. Operational Results Sales Q4’10 % change • Solid sales performance over Q4’09 (US$ millions) – Employee Benefit Group record sales of Domestic Variable $757 6% US$382 million, up 18% Annuity – Domestic variable annuity sales up 6%, reflecting improved wholesaler Domestic Individual Insuranc
Slide 5: SLF Asia
SLF Asia Individual Life Sales (C$ millions) Operational Results • Strong sales across most countries – Chi China up 33% 217 18 – Indonesia up 28% – Philippines up 47% 43 – Sales in India were down 54% 144 • Sun Life Everbright approved to open 24 three new branches in China, for a total of 36 citie
Slide 6: Adjusted Earnings from Operations; Source of Earnings
Adjusted Earnings from Operations Q4’10 (after-tax) Earnings EPS (C$ millions) (C$) Adjusted earnings from operations $359 $0.62 Equity markets 181 0.31 Interest rates 113 0.20 Management actions and updates to actuarial estimates (58) (0.10) and assumptions Non-recurring expenses (29) (0.05) Curren
Slide 7: Performance by Business Group; Capital Management
Performance by Business Group Net Income Q4’10 (C$ millions) SLF Canada 182 SLF U.S. 267 MFS 57 SLF A Asia i 28 Corporate (26) Total $508 13 Sun Life Financial Capital Management Minimum Continuing Capital & Surplus Requirements (MCCSR) Ratio * 228% 221% Commentary 208% • Further strengthened capita
Slide 8: Appendix: Value of New Business
Value of New Business (C$ millions)) Commentary 765 • Value of New Business increased by 43% mainly due to: – Product re-pricing p g and re-design g in V.A. and 536 segregated fund businesses – Improved product mix in Canadian Individual business – Strong sales at MFS 2009 2010 All amounts are based
Slide 9: Market Risk Sensitivity
Market Risk Sensitivity December 31, 2010 1 Change in Interest Rates 3 4 Net Income MCCSR ((C$ millions)) 1% increase 50-150 Up to 8 percentage points increase 1% decrease (150) - (250) Up to 10 percentage points decrease 2 Ch Change in i Equity E it Markets M k t 10% increase 25 -75 Up to 5 percent