Sun Life HK Now Rated AA by S&P

It’s an upgrade and that’s always good to have, here’s the word;

Sun Life Hong Kong Limited (“Sun Life Hong Kong”) today announced that S&P Global Ratings (“S&P”) has upgraded its financial strength and issuer credit ratings to “AA” from “AA-”, with a stable outlook.

The upgrade and S&P’s view that Sun Life Hong Kong is a core subsidiary of Sun Life Financial Inc. (“Sun Life” or “Group”), 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.

Clement Lam, Chief Executive Officer, Sun Life Hong Kong Limited, 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.

Lam added: “With the strong backing of the Group and our deep roots in Hong Kong spanning more than a century, we will continue to grow our business and accelerate digital innovation – delivering more comprehensive, personalised health and wealth protection solutions to meet the evolving needs of our Clients.”