Sun Life 2010 Annual Report Download - page 6

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Life’s brighter under the sun2
Change, volatility and uncertainty persisted as descriptors of the global economy in 2010.
Equity markets improved but the continuing low interest rate environment is challenging for our
industry. Governments around the world took actions to support their economies and financial
markets while at the same time are increasingly transferring responsibility for financial security
to individuals. Regulators sustained their vigilant, prudential oversight of financial institutions.
Sun Life is well positioned to meet these challenges. Our 2010 financial results reflect strong and
improved performance. Our Company has a strong capital position, operates within a highly
developed and robust risk management framework and has a diversified business model that is
positioned to address the lifetime financial needs of our customers.
The Board is focused on strategic planning and monitoring the execution of business plans so
that the Company meets its potential and delivers returns to all our stakeholders. In 2010 the
Board held a number of full-day meetings focused on strategic deliberations. Management’s
recommended actions for achieving balanced growth in the future were considered in the
context of the ongoing recovery from the financial crisis and the current economic outlook.
The Board allocates time at every regularly scheduled meeting to discuss progress against the
Company’s strategic plan and to consider whether adjustments are in order. Directors who are
not members of the Risk Review Committee regularly attend meetings of the committee to
enhance their understanding of the risks faced by the Company.
Strengthening oversight and governance of Sun Life includes development of directors and
Board succession planning and renewal. Three directors assumed new roles as Chairs of Board
Committees in 2010 as we implemented a policy of rotating Committee Chairs, generally
every five years. Much of the heavy lifting of Board work is done by the Committees and new
Chairs bring fresh perspectives to this important work. Committee Chairs work closely with
management and are able to provide additional insight to Board discussions.
CHAIRMAN’S
CHAIRMAN’S
MESSAGE
We took
We took
a number of
a number of
steps in 2010
steps in 2010
to strengthen
to strengthen
oversight and
oversight and
governance at
governance at
Sun Life.