April 09, 2021
HONG KONG – (March 24, 2021) Sun Life Financial Inc. (TSX/NYSE: SLF) (“Sun Life”) today announced the appointment of Karim Gilani, to the role of President, International Hubs: Sun Life’s businesses in Hong Kong, Bermuda and Singapore, offering world-class life, health and wealth solutions.
International Hubs comprises Sun Life’s life, health, wealth and pensions businesses in Hong Kong, and the High Net Worth (HNW) businesses in Hong Kong, Singapore and Bermuda. Together these businesses achieved 19% growth in annual Underlying Net Income and 40% growth in annual Individual sales (AFYP) in 2020, compared with 2019.
Karim is currently Sun Life Asia CFO and Head of Strategic Integration, responsible for oversight and integration of the core regional functions – Finance, Risk, Actuarial, Product, ALM, Legal, Investments, M&A and Compliance.
“Karim’s depth and breadth of experience across Sun Life in Asia ideally positions him to become the next President of Sun Life International Hubs. As Asia CFO he has built a strong network and a deep understanding of our strategic agenda in Asia. His extensive knowledge of our business and his strategic and financial leadership will be invaluable as we continue to grow our Hong Kong MPF and life and health insurance businesses, advance our Greater Bay Area strategy and continue to integrate our International Hubs businesses to build the leading high net worth insurance provider in Asia,” said Léo Grépin, Sun Life Asia President.
Karim joined Sun Life Asia as Chief Risk Officer in 2015 and went on to become Asia CFO in 2017. Prior to Sun Life, he held a variety of roles in risk, actuarial, products, reinsurance and consulting in Asia and North America. He is a Fellow of the Society of Actuaries and the Canadian Institute of Actuaries.
Clement Lam is appointed as Chief Executive Officer of Sun Life Hong Kong (subject to regulatory approval), reporting directly to Karim Gilani. Clement is currently General Manager, Life & Health of Sun Life Hong Kong.
“Clement is widely recognized as an outstanding people leader with a strong strategic vision and excellent execution track record. Under his leadership, our Life & Heath businesses in Hong Kong have had a phenomenal uplift in product development, business performance, HNW distribution and Client service. All this has led to multiple industry awards and remarkable business growth,” said Karim Gilani, President, Sun Life International Hubs.
Sun Life currently supports more than 22 million Clients in Asia, offering life, health and wealth management solutions through a multi-channel distribution approach. In the past four years, Sun Life’s business in Asia has grown to support 10.3 million new Clients and its underlying net income has grown at a CAGR of 8%.
Facts about Sun Life in Asia:
About Sun Life
Sun Life is a leading international financial services organization providing insurance, wealth and asset management solutions to individual and corporate Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of December 31, 2020, Sun Life had total assets under management of $1,247 billion. For more information please visit www.sunlife.com.
Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.
Media Relations Contact:
Head of Communications, Sun Life Asia
Tel: +852 6021 5797