Sun Life Hong Kong's financial strength and issuer credit ratings was upgraded to "AA" from "AA-", with a stable outlook by S&P Global Ratings.
The upgrade and S&P’s view that Sun Life Hong Kong is a core subsidiary of Sun Life Financial, reflects Sun Life Hong Kong's integral role in the Sun Life's strategic focus on Asia. Sun Life Hong Kong is the largest operating unit in Asia for Sun Life, contributing over 40% of the region’s underlying net income and playing a pivotal role in advancing the Group’s growth strategy across the region.
Sun Life Hong Kong, CEO, Mr Clement Lam, said: “We are proud to receive our first ‘AA’ rating from S&P, marking a significant milestone for Sun Life Hong Kong. This upgrade is a strong endorsement of our financial strength, resilience and long-term growth trajectory. It also reflects the trust our Clients place in us and reinforces our commitment to helping them achieve lifetime financial security and live healthier lives through innovative, tailored solutions. Building on this strong foundation, we will continue to execute with discipline, practise customer-centric innovation and deliver sustainable value.”
S&P also noted that Sun Life maintains a leading competitive position and a very strong financial risk profile. As a core subsidiary, Sun Life Hong Kong is expected to continue benefiting from the Group’s strong capital base, global expertise and risk management capabilities, further reinforcing its financial profile.