Canadian insurer Sun Life names new president for Asia business (updated)

Asia Business Daily Co

11/12/2023 14:37

(Adds details and context on the company, background
throughout)
       Dec 11 (Reuters) - Canada's Sun Life Financial  SLF.TO 
on Monday named its Chief Financial Officer Manjit Singh as the
president of its Asia business. 
    Singh, who joined the company as CFO in 2021, will take over
the role in March next year. He previously worked at TD Bank in
Toronto. The insurer said the search for a new CFO is on. 
    In his new role, Singh will be responsible for growth in
eight Asian markets, a key turf for Canadian insurers, spanning
China, Hong Kong and the Philippines. 
    He will replace Ingrid Johnson, who took charge as the vice
chair of strategic partnerships, a new role Sun Life created to
focus on global opportunities as a part of its expansion
efforts.
    The insurer has many global partnerships, including with
Hong Kong-based virtual insurer Bowtie, a deal with Scotiabank
to distribute alternative investment options in Canada and a
15-year bancassurance partnership in Hong Kong with Dah Sing
Bank.
    Last month, Sun Life reported better-than-expected quarterly
profits, helped by growth at its wealth and asset management
unit and higher fees.

 (Reporting by Manya Saini in Bengaluru and Nivedita Balu in
Toronto; Editing by Mrigank Dhaniwala and Arun Koyyur)
 ((Manya.Saini@thomsonreuters.com;))