Sun Life Financial and Khazanah Nasional Berhad agree to purchase CIMB Aviva

Sun Life Financial and Khazanah Nasional Berhad agree to purchase CIMB Aviva 
Partnership creates a Malaysian insurance powerhouse backed by an 
international life insurance leader 
TORONTO, Jan. 17, 2013 /CNW/ - Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) 
(Sun Life) and Khazanah Nasional Berhad (Khazanah) are establishing a 
strategic partnership to acquire 98 per cent of CIMB Aviva Assurance Berhad, a 
Malaysian life insurance company, and CIMB Aviva Takaful Berhad, a Malaysian 
takaful company (together, the Company), in a transaction valued at 1.80 
billion Malaysian Ringgit (RM) (C$586 million). Sun Life and Khazanah are each 
paying RM900 million (C$293 million) in respect of the transaction, which 
includes entering into a new 20-year exclusive bancassurance agreement with 
CIMB Bank. 
Sun Life and Khazanah are each acquiring 49 per cent of the Company from Aviva 
International Holdings Limited and CIMB Group Holdings Berhad (CIMB Group), 
respectively. CIMB Group will retain a two per cent share in the Company. 
The transaction includes an exclusive right to distribute insurance products, 
including takaful products, through CIMB Bank's network across Malaysia. This 
network includes 312 branches across the country and eight million customers. 
"This transaction is perfectly aligned with our strategy for expanding our 
footprint in Asia," said Kevin Strain, President, Sun Life Financial Asia. 
"With Khazanah and CIMB, we have very strong partners with a broad 
distribution platform, and we are investing in a country with one of the most 
developed economies in the ASEAN region and a growing middle class. The 
combination of Sun Life's global insurance experience, Khazanah's strategic 
and financial expertise as an investor in the region, and CIMB's strong 
banking presence, reputation and brand in Malaysia and throughout the region, 
will deliver excellent value to customers and make the Company a leader in the 
Khazanah's Managing Director, Tan Sri Dato' Azman bin Hj Mokhtar, said: "This 
is an important investment for Khazanah. It marks not just an opportunity to 
invest into an asset in a growth sector, but also brings together a unique 
commercial partnership among three strong parties in their respective areas. 
We are delighted to be partnering with Sun Life and CIMB." 
"We look forward to working with the new bancassurance partners we have chosen 
after an extensive selection process. Bancassurance remains a core component 
of our wealth management proposition and we believe that the enhanced 
bancassurance agreement and potential regional synergies will enable our new 
partners to manufacture and support a more competitive product range for us to 
take to our customers," said Dato' Sri Nazir Razak, Group Chief Executive, 
CIMB Group. 
The proposed acquisition by Sun Life and Khazanah is subject to regulatory 
approvals in Canada and Malaysia. The transaction is expected to close by the 
first half of 2013. 
Forward-Looking Statements
In this section, "we", "us", "our" and the "Company" refers to Sun Life 
Financial Inc. and its subsidiaries, joint ventures and associates. 
Certain statements in this news release, including (i) statements concerning 
the anticipated timing and impact of the transactions described above, (ii) 
statements relating to our strategies, (iii) statements that are predictive in 
nature, (iv) statements that depend upon or refer to future events or 
conditions and (v) statements that include words such as "aim", "anticipate", 
"assumption", "believe", "could", "estimate", "expect", "goal", "intend", 
"may", "objective", "outlook", "plan", "project", "seek", "should", 
"initiatives", "strategy", "strive", "target", "will" and similar expressions 
are forward-looking statements. These statements represent our current 
expectations, estimates and projections regarding future events and are not 
historical facts. Forward-looking statements are not a guarantee of future 
performance and involve risks and uncertainties that are difficult to predict. 
Future results and shareholder value may differ materially from those 
expressed in these forward-looking statements due to, among other factors, the 
matters set out in in Sun Life Financial Inc.'s annual MD&A under the headings 
Critical Accounting Policies and Estimates and Risk Management and in Sun Life 
Financial Inc.'s AIF under the headings Risk Factors and the factors detailed 
in Sun Life Financial Inc.'s other filings with Canadian and U.S. securities 
regulators, including its annual and interim MD&A, and annual and interim 
Consolidated Financial Statements. 
Factors that could cause actual results to differ materially from expectations 
include, but are not limited to, the failure of the parties to obtain the 
required regulatory approvals or to otherwise satisfy the conditions to the 
completion of the transaction in a timely manner, economic uncertainty, market 
conditions that affect the Company's capital position or its ability to raise 
capital; changes or volatility in interest rates or credit/swap spreads; the 
performance of equity markets; credit risks related to issuers of securities 
held in our investment portfolio, debtors, structured securities, reinsurers, 
derivative counterparties, other financial institutions and other entities; 
risks in implementing business strategies; risk management; changes in 
legislation and regulations including capital requirements and tax laws; legal 
and regulatory proceedings, including inquiries and investigations; risks 
relating to product design and pricing; downgrades in financial strength or 
credit ratings; the ability to attract and retain employees; the performance 
of the Company's investments and investment portfolios managed for clients 
such as segregated and mutual funds; the impact of higher-than-expected future 
expenses; risks relating to mortality and morbidity, including the occurrence 
of natural or man-made disasters, pandemic diseases and acts of terrorism; 
risks relating to the rate of mortality improvement; risks relating to 
policyholder behaviour; risks related to liquidity; dependence on third-party 
relationships including outsourcing arrangements; the inability to maintain 
strong distribution channels and risks relating to market conduct by 
intermediaries and agents; breaches or failure of information system security 
and privacy, including cyber terrorism; business continuity risks; risks 
relating to financial modelling errors; risks relating to real estate 
investments; risks relating to estimates and judgements used in calculating 
taxes; the impact of mergers and acquisitions; risks relating to operations in 
Asia including the Company's joint ventures; the impact of competition; 
fluctuations in foreign currency exchange rate; risks relating to the closed 
block of business; risks relating to the environment, environmental laws and 
regulations and third-party policies; and the availability, cost and 
effectiveness of reinsurance. 
About Sun Life Financial 
Sun Life Financial is a leading international financial services organization 
providing a diverse range of protection and wealth accumulation products and 
services to individuals and corporate customers. Chartered in 1865, Sun Life 
Financial and its partners today have operations in key markets worldwide, 
including Canada, the United States, the United Kingdom, Ireland, Hong Kong, 
the Philippines, Japan, Indonesia, India, China, Vietnam and Bermuda. As of 
September30, 2012, the Sun Life Financial group of companies had total AUM 
of C$515 billion. For more information please visit 
Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and 
Philippine (PSE) stock exchanges under the ticker symbol SLF. 
About Khazanah Nasional Berhad 
Khazanah Nasional Berhad is the strategic investment fund of the Government of 
Malaysia entrusted to hold and manage the commercial assets of the Government 
and to undertake strategic investments. Khazanah is involved in various 
sectors such as power, telecommunications, banking, healthcare, airport 
management, infrastructure, leisure & tourism, property development, 
broadcasting, investment holding, and technology. Some of the key listed 
companies in Khazanah's investment portfolio include Telekom Malaysia Bhd., 
Tenaga Nasional Bhd., CIMB Group, Axiata Group Bhd., IHH Healthcare Bhd., 
Malaysia Airports Holdings Bhd., and UEM Land Holdings Bhd. For further 
information on Khazanah, please visit 
Asia Contacts: Sun Life Financial Mei Velasquez Head of Customer Marketing & 
Communications Tel: +852-9199-6697 
Khazanah Nasional Berhad Mohd Asuki Bin Abas Senior Vice-President, Managing 
Director's Office Tel: +603-2034-0000  
North American and U.K. Contacts: Sun Life Financial Media Relations 
Contact:  Frank Switzer Vice-President, Corporate Communications Tel: 
Investor Relations Contact: 
Phil Malek Vice-President, Investor Relations Tel: 416-979-4198   
SOURCE: Sun Life Financial Inc. 
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CO: Sun Life Financial Inc.
ST: Ontario
-0- Jan/17/2013 09:57 GMT
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