Sun Life 2012 Annual Report Download - page 157

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equally with all other subordinated indebtedness of SLF Inc. SLF Inc.has also provided a subordinated guarantee of the preferred
shares issued by Sun Life Assurance from time to time, other than such preferred shares held by SLF Inc. and its affiliates. Sun Life
Assurance has no outstanding preferred shares subject to the guarantee. As a result of these guarantees, Sun Life Assurance is
entitled to rely on exemptive relief from most continuous disclosure and the certification requirements of Canadian securities laws.
The following tables set forth certain consolidating summary financial information for SLF Inc. and Sun Life Assurance (Consolidated):
Results for the years ended
SLF Inc.
(unconsolidated)
Sun Life
Assurance
(consolidated)
Other
subsidiaries
of SLF Inc.
(combined)
Consolidation
adjustment
SLF Inc.
(consolidated)
December 31, 2012
Revenue $ 482 $ 15,497 $ 2,851 $ (1,271) $ 17,559
Shareholders’ net income (loss) from
continuing operations $ 1,672 $ 1,351 $ (52) $ (1,477) $ 1,494
Shareholders’ net income (loss) from
discontinued operation $ – $ – $ 180 $ – $ 180
December 31, 2011
Revenue $ 528 $ 17,959 $ 2,993 $ (1,650) $ 19,830
Shareholders’ net income (loss) from
continuing operations(1) $ (200) $ 774 $ (509) $ 260 $ 325
Shareholders’ net income (loss) from
discontinued operation $ – $ – $ (595) $ – $ (595)
(1) Balances have been restated. Refer to Note 2.
Assets as at
SLF Inc.
(unconsolidated)
Sun Life
Assurance
(consolidated)
Other
subsidiaries
of SLF Inc.
(combined)
Consolidation
adjustment
SLF Inc.
(consolidated)
December 31, 2012
Invested assets $ 18,658 $ 99,459 $ 5,725 $ (18,167) $ 105,675
Total other general fund assets 8,239 13,419 33,068 (27,274) 27,452
Investments for account of segregated
fund holders – 65,177 27,478 – 92,655
Insurance contract liabilities – 89,160 682 (2,567) 87,275
Investment contract liabilities – 2,303 – – 2,303
Total other general fund liabilities $ 10,287 $ 9,631 $ 34,368 $ (27,488) $ 26,798
December 31, 2011
Invested assets $ 16,435 $ 94,540 $ 21,243 $ (15,557) $ 116,661
Total other general fund assets(1) 8,634 13,593 19,542 (28,359) 13,410
Investments for account of segregated
fund holders – 60,169 28,014 – 88,183
Insurance contract liabilities(1) – 85,834 14,938 (4,085) 96,687
Investment contract liabilities – 2,083 990 – 3,073
Total other general fund liabilities $ 9,474 $ 9,529 $ 22,723 $ (27,059) $ 14,667
(1) Balances have been restated. Refer to Note 2.
25.F Legal and Regulatory Proceedings
We are regularly involved in legal actions, both as a defendant and as a plaintiff. In addition, government and regulatory bodies in
Canada, the United States, the United Kingdom and Asia, including federal, provincial and state securities and insurance regulators in
Canada, the United States, the United Kingdom and other jurisdictions, including the Security Exchange Commission, the Financial
Industry Regulatory Authority and state attorneys general in the United States, from time to time, make inquiries and require the
production of information or conduct examinations or investigations concerning our compliance with insurance, securities and other
laws. Management does not believe that the conclusion of any current legal or regulatory matters, either individually or in the
aggregate, will have a material adverse effect on our financial condition or results of operations.
Notes to Consolidated Financial Statements Sun Life Financial Inc. Annual Report 2012 155