Sun Life 2012 Annual Report Download - page 7
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The assets we manage for our customers surpassed $500 billion during the year. We feel the depth
of the trust placed in us by these many investors very deeply. MFS continued to provide investment
performance at a very high standard with over 85% of customers receiving returns in excess of the
benchmarks for their mutual funds over the past three years.
While we inevitably make mistakes from time to time, I think you can be proud that your employees
have again delivered service to customers in 2012 at a very high standard.
At the time of writing, the sale of our variable annuity business in the U.S. has not been finalised, but
this transaction marks the conclusion of a phase of consolidation brought on by the economic troubles
which started in 2008. Of course, we remain exposed to the environment we are in, and low interest
rates are difficult for a company like yours which provides long term contracts, but your management
team is now in a position to look forward to focusing on its growth agenda. The lessons of the last five
years and the attention to detailed risk management will be with us forever, but they can now form the
foundations of that growth agenda, rather than our sole preoccupation.
Two strong voices on the Board are retiring this year. Both David Kerr and Mitch Merin have been
unhesitatingly generous with their wealth of wisdom and sage counsel over their years of service – and
we are sincerely grateful to them.
Finally, on behalf of the entire Board, I offer my sincere thanks to our management and employees
worldwide. As a result of their dedication, hard work and enthusiasm we are increasingly well positioned
to take advantage of extraordinary growth opportunities globally – making life brighter under the sun
for all our customers and shareholders.
SUN LIFE
IN 2012
JAMES H. SUTCLIFFE
CHAIRMAN OF THE BOARD
Sun Life Financial Inc. Annual Report 2012 5
Chairman’s Message