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December 15, 2009

Sun Life Financial Variable Annuity Sales Continue Rising

Company’s Financial Strength and New Distribution Team Drive Sales 
Across Financial Services Industry in 3Q 2009

Wellesley, MA (Dec. 15, 2009) – The U.S. division of Sun Life Financial Inc. (NYSE: SLF, TSX: SLF) today announced that its variable annuity (VA) sales for the first nine months of 2009 rose 64%, well above the Morningstar/MARC Industry average of -22.9% for the same time period when compared to the first three quarters of 2008.  Sun Life also announced its third quarter VA sales totaled $1.08 billion, a 30.4% increase from the previous quarter and the company captured a 3.5% market share for the third quarter, its highest market share in the U.S. in over seven years.  Sun Life Financial also moved up six positions to rank ninth in new VA sales for the quarter, and its VA assets are up 16% compared to the prior quarter. 

“While other insurance carriers are scaling back their VA operations, we continue to push forward and remain fully committed to the VA industry,” said Terry Mullen, President of Sun Life Financial Distributors.  “We have greatly benefited from Sun Life Financial’s history of strong risk management and financial strength, and the investments we’ve made in revamping our distribution with top producers have resulted in higher productivity and a rising market position.” 

Sun Life Financial continues to increase its VA sales against the industry average in the three leading financial distribution channels:

Wirehouses
(dollars in millions)

 

3Q YTD 2008

3Q YTD 2009

Percentage Gain/Loss

Industry Total

$14,409.0

$10,700.7

-25.7%

Sun Life Financial

$480.3

$1,030.9

+114.6%

Independent Firms
(dollars in millions)

 

3Q YTD 2008

3Q YTD 2009

Percentage Gain/Loss

Industry Total

$42,612.4

$33,707.9

-20.9%

Sun Life Financial

$537.6

$970.8

+80.6%

Banks
(dollars in millions)

 

3Q YTD 2008

3Q YTD 2009

Percentage Gain/Loss

Industry Total

$15,080.4

$9,278.6

-38.5%

Sun Life Financial

$306.7

$373.1

+21.6 %

Note: All data from Morningstar/MARC


About Sun Life Financial
Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth accumulation products and services to individuals and corporate customers. Chartered in 1865, Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. As of Sept. 30, 2009, the Sun Life Financial group of companies had total assets under management of US $385.3 billion.

Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under ticker symbol SLF. Visit Sun Life Financial’s website at www.sunlife.com/us.

Contact:
David Jacobson
Sun Life Financial
781-446-1955
david.jacobson@sunlife.com