HISTORY OF Sun Life Financial

HISTORY OF

Sun Life Financia

It was the 1860s, the Victorian Era, and a period of expanding hor

In Montreal, a leading businessman and pillar of society, Mathe
company that would contribute to the economic growth and pro
ambition by founding what is now the Sun Life Financial organizat
the time of Mathew Gault to today.

al

rizons and industrial and cultural advancement.

ew Hamilton Gault, had a bold vision of creating an insurance
osperity of the newly forming country of Canada. He realized his
tion. The following milestones tell the story of our company from

MATHEW HAMILTON
GAULT, FOUNDER
(ABOVE)

1865 1871

March 18 – We receive assent from the With improved conditions, we
Legislative Assembly of the Province commence business as Sun Mutual
of Canada to incorporate a company Life Insurance Company of Montreal,
to conduct the business of insurance. changing our name in 1882 to Sun Life
However, unfavourable economic Assurance Company of Canada.
conditions delay plans to move
forward.

1865 1870 1875 1880

SUN LIFE BUILDING, SUN LIFE MONTREAL
MANILA (LEFT) BUILDING TODAY
(BELOW)
EARLY
CONSTRUCTION,
SUN LIFE BUILDING,
MONTREAL (BELOW)

1880s 1914

Sun Life begins its worldwide expansion, World War I – Many Sun Life
and by 1920 operates in 55 countries. This employees contribute to the war
includes Hong Kong in 1892, the U.K. in effort, the company is among the
1893, and the Philippines and the U.S. in largest subscribers to War Bonds and
1895, where we operate to this day. they are also sold through the Sun Life
sales force.

In Montreal, construction begins on
the landmark building known around
the world as The Sun Life Building, one
of the finest in the British Empire. Its
final phase is completed in 1933, and we
employ over 1,600 people today in the
distinguished building.

1885 1890 1900 1910

FIRST GROUP CLIENT
CARD (BELOW)

1919 1925

Sun Life is the first company in Canada Sun Life gives $25,000 to the Banting
to offer group life insurance, and Research Foundation for the support
within a few years we are an important of medical research including diabetes
provider of group benefit plans and insulin, a sizable donation for the
throughout Canada and the time. In 2013, Sun Life commits to the
United States. diabetes cause worldwide, committing
over $11 million to research, prevention,
education and care initiatives.

1920 1925 1930

SECRET VAULT
BENEATH MONTREAL
BUILDING (LEFT)

1930s 1940–1945

We face the challenges of the Great World War II – The company’s overseas
Depression, then, company assets begin operations are significantly affected by
rising again in 1936 as world economies the war, and in its aftermath we help the
begin their recovery. families of policyholders by taking special
measures to honour claims. Throughout
the war, Winston Churchill’s government
uses a secret vault three floors beneath
our Montreal building to safeguard $5
billion in securities that helped fund
Britain’s war effort.

1935 1940 1945

P O S T- WA R Y E A R S Around the world, economic and politic
reputation that will serve us well as the

SEATED AT THE
CONTROLS IS
PRESIDENT GEORGE
W. BOURKE (RIGHT)

1958 1962 1978

Sun Life is a pioneer in technology, Sun Life becomes Sun Life policyhold
buying its first computer – a 24 ton a mutual company to relocate the com
Univac II – which sits on a half-acre following a lengthy corporate headqua
of space in our head office. mutualization process Montreal to Toron
and the buying back
of our shares for $65
million in total.

1950 1955 1960 1965

cal changes cause Sun Life to exit many markets, but we leave behind a favourable
countries' markets re-open in future years.

NEW HEADQUARTERS,
ONE YORK STREET
(LEFT)

GROUNDBREAKING
CEREMONY,
150 KING ST. W.
(BELOW)

ders vote 1982 1984
mpany’s
arters from Sun Life acquires Massachusetts Construction of Sun Life’s
nto. Financial Services (MFS), the worldwide corporate
Boston-based investment headquarters is completed
management company. MFS at the crossroads of King and
“invented” the mutual fund University Streets in Toronto.
in 1924 and today is a global The headquarters will move in
investment manager with 2017 to a new building — One
operations in over 20 countries. York Street, bringing together our
downtown Toronto employees in
one location.

1970 1975 1980 1985

1995 1996

Commencing an era of new expansion Sun Life establishes
in Asia, Sun Life enters the Indonesia Sun Life Financial International,
market. We operate today as offering products to high-net-worth
PT Sun Life Financial Indonesia, clients around the world. It is based
as well as through joint venture in Bermuda and has regional offices in
CIMB Sun Life that delivers insurance Dubai, Panama and Singapore.
products to customers of the CIMB
Niaga bank nationwide.

The Philippines Post Office honours
our 100-year anniversary in the
Philippines with two special-issue
Sun Life centennial stamps.

1990 1995 1996

1998 1999

Sun Life opens a services centre in As the insurance market re-opens to
Waterford, Ireland, followed later by foreign companies, we return to India by
service centres in India and the forming the joint venture Birla Sun Life
Philippines. They provide technology with the highly respected Aditya V. Birla
and business support services to Group.
many parts of the company.
In China, Sun Life joins with well-
established local partner the
China Everbright Group to form
Sun Life Everbright.

1997 1998 1999

SUN LIFE FINANCIAL/
CLARICA ANNOUNCE-
MENT (BELOW)

2000 2001 2002

We demutualize and shares In December, Sun Life Everbright is
of Sun Life Financial Inc. begin Sun Life Financial and approval to sell life i
trading on March 23 on the Clarica Life Insurance in Tianjin, China, bec
Toronto (TSX), New York Company announce an the first foreign life i
(NYSE) and Philippine (PSE) agreement to combine joint venture to ope
stock exchanges. Over one operations in a landmark that city and its neig
million eligible policyholders transaction to create a counties.
around the world receive powerhouse in the Canadian
demutualization benefits. marketplace. The merger 2002
To mark our new beginning, is completed in 2002
we adopt the brand name and by year’s end 2003
Sun Life Financial and a new the operations are fully
corporate logo that combines integrated.
the sun and the earth.
2001
2000

s granted 2004 2005
insurance
coming Our Canadian group Sun Life Financial is named
insurance retirement services business to the inaugural list of The
erate in becomes the leading provider Global 100 Most Sustainable
ghbouring of defined contribution Corporations in the World,
retirement plans in the by Corporate Knights,
country by market share, for excellence in social,
and in 2010 we also become environmental and strategic
number one in the Canadian governance practices, and
group benefits market. appears on the list in many
subsequent years.

2003 2004 2005

2008 2010 2011

In the face of the We continue building our brand We expand our Phil
global financial crisis, around the world and acquire operations by formi
we remain among the naming rights to Sun Life venture Sun Life Gre
the world’s strongest Stadium in Miami, Florida. distributing insuranc
insurance companies branches of the Riza
and continue building Sun Life Global Investments Banking Corporatio
our businesses. (Canada) Inc. is launched,
bringing to Canadians high Sun Life Everbright
quality investment products regulatory approval
and solutions by leveraging our to establish Sun Life
relationships with world-class Insurance Asset Ma
investment managers. Company, only the
license issued in Ch

2006 2007 2008 2009 2010 2011

lippine 2012 2013
ing the joint
repa Financial, We enter Vietnam We enter Malaysia with
ce through through joint venture Sun Life Malaysia Assurance Berhad
al Commercial PVI Sun Life with and Sun Life Malaysia Takaful Berhad,
on nationwide. strong local partner our joint ventures with partners
PVI Holdings. Khazanah Nasional Berhad and CIMB
receives Group Holdings Berhad. Our footprint
l in China 2012 in Asia now includes 16 companies
e Everbright and six local partners across seven
anagement markets in Asia.
12th such
hina. We sell our domestic U.S. annuity
business, significantly reducing our
risk profile. The company now focuses
its U.S. operations on the growing
group benefits business.

2013

2014 2015

Sun Life Investment Management Inc. is formed, We celebrate our Se
leveraging Sun Life’s long-standing investment since our founding. W
experience to offer private asset class funds our heritage and inte
and liability driven investment solutions to has enabled us to to
institutional investors in Canada. of people around th
achieve lifetime fina

Building our U.S. bus
to acquire the Emplo
Assurant, Inc. The tra
March 1, 2016, create
benefits business in
broadest product po

2014 2015

esquicentennial – 150 years In asset management, we grow our Sun Life
We take great pride in Investment Management business with three
ernational presence that acquisitions: Bentall Kennedy, one of North
ouch the lives of millions America's largest real estate investment advisors
he world, and help them and service providers, and U.S. institutional asset
ancial security. managers Prime Advisors and Ryan Labs.

siness, we announce plans
oyee Benefits business of
ansaction, which closed
ed the sixth largest group
the U.S. with one of the
ortfolios in the industry.