Sun Life Financial has created a solid foundation for sustainable growth, company executives said Thursday during an investor day event in New York City, which focused on U.S.-based businesses Sun Life Financial U.S. and MFS Investment Management.

“Globally, Sun Life Financial’s enduring success is founded upon our balanced business model. Our protection businesses provide the ability to deliver more stable and consistent earnings while our wealth businesses, which range from retail and institutional asset management to annuity and group pension, continue to benefit from demographic factors affecting retirement,” said Jon Boscia, president of Sun Life Financial.

In Sun Life’s U.S. operations, total third quarter 2009 sales, excluding the offshore market, reached a record-breaking US$1.6 billion, up 23% from the third quarter of 2008. A driving force behind the jump in total sales was the annuities division, which achieved total domestic sales of US$1.4 billion, an increase of 30% from the same period last year.

Sun Life’s U.S. distribution reach is also serving the company well, thanks to strong penetration within strategic partners including M Financial, Morgan Stanley Smith Barney and UBS.

“Sun Life’s U.S. operations are developing streamlined products, improved customer service and strong distribution channels,” said Boscia.

Meanwhile, strong relative investment performance at MFS resulted in positive net flows of US$7.7 billion in the third quarter of 2009.

“Our strong net sales growth in 2009 reflects the solid relative performance of our investment line-up, as well as our extensive global distribution capabilities. MFS will continue to expand upon its product offerings and distribution network, adding personnel where appropriate,” said Robert Manning, CEO of MFS.

The conference also highlighted a stronger focus on creating greater U.S. consumer awareness. Sun Life U.S. and MFS have made significant strategic investments in branding and marketing during the last year, Sun Life said.

“Sun Life’s businesses have maintained momentum even during the worst of the recession,” said Boscia. “Now that the economy is entering a recovery period, we are well positioned to capitalize on growth opportunities globally.”

IE