Sun Life partners for growth

Article Excerpt

SUN LIFE FINANCIAL, $66.30, is a buy. This Canadian insurance giant (Toronto symbol SLF; Shares outstanding: 586.3 million; Market cap: $38.7 billion; TSINetwork Rating: Above Average; Dividend yield: 4.3%; www.sunlife.ca) has formed an exclusive 15-year partnership in Hong Kong. Sun Life will be the exclusive provider of life insurance solutions to Dah Sing Bank’s 570,000 retail banking customers. Dah Sing has been in business for over 75 years, and has assets totalling more than $41 billion. It also has a distribution network of 40 branches in Hong Kong. Sun Life will pay $260 million for this exclusive arrangement, with ongoing variable payments to Dah Sing Bank based on the success of the partnership. Sun Life will be able to leverage its existing network of over 2,500 expert advisors. Sun Life Financial is a buy. buy. …