Outperforming Market with Sustained Growth Momentum Across Three Core Distribution Channels

(HONG KONG – October 23, 2026) – Sun Life Hong Kong Limited (“Sunlife”) delivered solid business growth in the first half of 2026, driven by its diversified multi-channel distribution strategy, according to the latest provisional statistics on Hong Kong’s long-term insurance business released by the Insurance Authority^[1] today. The company’s new business Annualized Premium Equivalent (APE) reached HK$7.3 billion in the first half, up 44% year-on-year and outperforming overall market growth of 10%. Momentum continued in the second quarter, with new business APE up 19% year-on-year, maintaining its leading position among Hong Kong’s non‑bank insurers in the industry.

As Hong Kong's wealth management market continues to evolve, Clients' needs for protection, retirement planning and intergenerational wealth transfer are becoming more diverse. Sunlife Asia's latest legacy planning research^[2] found that 85% of Hong Kong respondents intend to pass on financial assets or wealth, yet only 10% have fully documented their legacy plans and communicated them to their heirs. Among those worried their wealth will not last, 50% cited the next generation's readiness to manage inherited wealth as their greatest concern. These findings point to growing demand for professional financial advice and legacy planning.

To meet these evolving needs, Sunlife continues to serve diverse Client segments, from high-net-worth to mass and affluent, through its multi-channel distribution strategy. In the first half of 2026, the company's broker, agency and bancassurance channels all delivered double-digit growth^[1]:

• Broker channel: New business APE reached HK$5.031 billion, surged 34% year-on-year, securing our No. 1 market ranking and further reinforcing the company's strengths in the high-net-worth and wealth management markets

• Agency channel: New business APE reached HK$1.445 billion, increased 48% year-on-year, reflecting the continued importance of professional financial advisors in helping Clients address protection, retirement and wealth planning needs

• Bancassurance channel: New business APE reached HK$ 593 million, rose by 65% year-on-year, further extending the company's reach to Clients through its bancassurance channels

“Hong Kong's position as a leading international wealth management center continues to create significant opportunities, driven by sustained demand for wealth planning solutions from Clients. We are also seeing growing momentum through bancassurance channels as Clients seek trusted advice to navigate an evolving financial landscape.

While market demand remains strong, individuals and families continue to face protection and retirement planning gaps. We remain focused on helping Clients build lifetime financial security by combining trusted expertise, innovative solutions and personalized experiences that empower them to navigate life's opportunities and uncertainties with confidence.” said Clement Lam, Chief Executive Officer, Sun Life Hong Kong Limited.

Sunlife’s recent flagship initiatives, including its exclusive sponsorship of the 2026 National Day Fireworks Display, underscore its long-standing commitment to Hong Kong and the trust it has built with Clients and the community. The event brought together around 380,000 residents and overseas visitors on both sides of Victoria Harbour. Through initiatives that connect with people beyond financial services, Sunlife continues to strengthen its presence in the community and contributes to the city it has called home for nearly 135 years.

^[1] Provisional Hong Kong long-term insurance business statistics for January to June 2026, provided by the Hong Kong Insurance Authority.

^[2] Sunlife Asia's second annual legacy planning survey “Passing the Torch: When Legacy Means More Than Money” was conducted in August 2026 across Hong Kong, Indonesia, Malaysia, the Philippines, Singapore and Vietnam. It surveyed 3,073 respondents from different wealth levels and generations.

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About Sunlife

Sunlife is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional Clients. Sunlife has operations in a number of markets worldwide, including Canada, the U.S., the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of June 30, 2026, Sunlife had total assets under management of $1.70 trillion. 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. Sun Life Financial Inc. is the holding company of Sun Life Assurance Company of Canada. Sun Life Hong Kong Limited (incorporated in Bermuda with limited liability) is a wholly-owned subsidiary of Sun Life Assurance Company of Canada and operates in Hong Kong.