Deal provides greater choice for customers by creating a Malaysian
insurance powerhouse backed by an international life insurance leader

KUALA LUMPUR, MALAYSIA and TORONTO, April 12, 2013 /PRNewswire/ – Sun Life
Financial Inc. (TSX: SLF) (NYSE: SLF) (Sun Life) and Khazanah Nasional
Berhad (Khazanah) are pleased to announce today the completion of the
acquisition of CIMB Aviva Assurance Berhad, a Malaysian life insurance
company, and CIMB Aviva Takaful Berhad, a Malaysian takaful company
(together, the Company), following regulatory approvals in Malaysia and
Canada.

Sun Life and Khazanah have each acquired 49 per cent of the Company from
Aviva International Holdings Limited and CIMB Group Holdings Berhad
(CIMB Group), respectively, with CIMB Group retaining 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. The transaction is
valued at 1.80 billion Malaysian Ringgit (C$602 million).

Ooi Say Teng will lead the Company and will be named CEO of CIMB Aviva
Assurance Berhad. Ooi has more than 30 years of experience in the
Malaysian insurance industry, most recently as Head of CIMB Group
Insurance for CIMB Bank, will help drive the Company to become a
leading player in the Malaysian market in the coming months and years.
The Company will be re-branded once regulatory approval for a new name
is received.

“This new Company will be driven by the desire to help our customers in
Malaysia achieve long-term financial security,” said Kevin Strain,
President, Sun Life Financial Asia. “We have very strong partners in
Khazanah and CIMB and we believe that the combination of Sun Life’s
insurance expertise, Khazanah’s excellent track record of strategic
management and CIMB’s broad distribution platform will position the
Company for success. Sun Life is excited to begin operations in
Malaysia and, along with our partners, we are looking forward to
building a company with a culture that is focused on delivering value
and excellent service to customers.”

Khazanah’s Managing Director, Tan Sri Dato‘ Azman bin Hj Mokhtar, said:
“We are delighted with the completion of this important transaction.
The underlying insurance business is intended to be carried out in a
manner that will reflect long-term partnerships with customers and in
helping them achieve financial security in a responsible manner.”

“We are thrilled to work with Sun Life and Khazanah in this new
partnership. We believe that there is a great fit between the three
companies and we are looking forward to the new insurance products and
services this new partnership will bring to our customers,” said Dato’
Sri Nazir Razak, Group Chief Executive, CIMB Group.

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, Australia, Vietnam and Bermuda. As of
December 31, 2012, the Sun Life Financial group of companies had total
assets under management of C$533 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.

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 www.khazanah.com.my.

SOURCE Sun Life Financial Inc.