Sun Life appoints Luc Nhon Ly as next CEO of Sun Life Vietnam

HONG KONG SAR – Media
OutReach – 9 November 2021 – Sun Life Financial Inc. (TSX:
SLF) (NYSE: SLF) today announced that Luc Nhon Ly has joined as the Chief
Executive Officer of Sun Life Vietnam. The appointment follows the return of
former Vietnam CEO Larry Madge to Sun Life’s corporate office in Toronto.

Luc Nhon Ly, Chief Executive Officer of Sun Life Vietnam

Luc brings more than 26 years of expertise to Sun
Life in a career spanning executive, finance, strategy, and actuarial roles
across Vietnam, Myanmar and Canada. He joins Sun Life from AIA where he was
most recently Chief Executive Officer of AIA Myanmar and prior to that spent 12
years at AIA Vietnam, mostly as the Chief Financial Officer. He has also held
roles with ACE Life in Vietnam and Canada Life in Toronto and
L’Industrielle-Alliance in Montreal.

Luc is reporting to Ingrid Johnson, Sun Life Asia
President, and is a member of the Sun Life Asia Executive team.

“We are very excited to welcome Luc to Sun Life,”
said Kevin Strain, Sun Life President and Chief Executive Officer. “Luc joins
our Vietnam business at a moment of immense growth and potential. Over the past
five years our Client base in Vietnam has more than tripled and sales have more
than quadrupled. Luc is a strategic and entrepreneurial leader and highly
respected veteran in the Vietnamese market with a proven track record of
success. I am confident he will be a tremendous asset to lead the next phase of
our journey in Vietnam as we help even more Clients achieve lifetime financial
security and live healthier lives.”

“I’m excited to be joining Sun Life at a time
where we see huge opportunities in Vietnam,” said Luc Nhon Ly, Chief Executive
Officer of Sun Life Vietnam. “My ambition is to make Sun Life a best in class insurer
in Vietnam, known for our innovative and passionate people who are adding a new
energy to what we do. It’s not a small goal, but Vietnam has a lot of talent
and is growing very strongly, so this is the right time and place for us to be
impactful.”

Sun Life Vietnam achieved sales growth of 564% in
the first half of 2021, with significant growth across its agency,
bancassurance, and alternative partnership channels.

Luc holds a Bachelor in Actuarial Science and a
Master in Statistical Science from the Université de Montréal. He is a Fellow
of the Society of Actuaries and the Canadian Institute of Actuaries.

Note to editors: All figures in Canadian dollars