TORONTO, Aug. 12 /PRNewswire-FirstCall/ - CIMB Sun Life has won a Stevie Award for "Best New Company of the Year" in its first year of operations. The International Business Awards, also known as the Stevies, are considered a premier award of the business world, honouring a diverse line-up of companies and their staff for outstanding performance.
"This award is a tribute to the hard work and dedication of staff at CIMB Sun Life," Chris Lossin, country manager, Indonesia, Sun Life Financial, said. "We should all be very proud of this shared achievement, as it marks another major milestone for this young company within a remarkable timeline." He also thanked key stakeholders including parent companies Sun Life Financial and CIMB Group, along with the Indonesian government.
CIMB Sun Life has captured a U.S.-based Stevie Award just one year after the Company's establishment, demonstrating its strong commitment to growing its business in Indonesia. It commenced operations in July 2009 after Sun Life Financial signed an agreement with CIMB Group - one of Southeast Asia's leading universal banking groups headquartered in Malaysia - to form the joint venture. At that time CIMB Sun Life carried four products using its multi-channel distribution strategy. Its rapid growth has continued with the recent launch of three more products.
"Our early success amidst a challenging economic environment is a testament to our shareholders' strong vision, values and commitment to the Company, and to Indonesia's life insurance market," said Vivien Kusumowardhani, president director, CIMB Sun Life. "With our strong brand positioning, CIMB Sun Life is on track to achieve further growth in Indonesia."
The Stevie Awards will be presented in Istanbul, Turkey on September 27, at The Ritz-Carlton Hotel.
About Sun Life Financial
Sun Life Financial Inc. 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 and Bermuda. As of June 30, 2010, the Sun Life Financial group of companies had total assets under management of $434 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 CIMB Sun Life
PT. CIMB Sun Life (CIMB Sun Life) is a joint venture life insurance company between CIG Berhad - a subsidiary of CIMB Group, PT. Bank CIMB Niaga Tbk (CIMB Niaga), and Sun Life Financial Inc. through PT. Sun Life Indonesia Services. CIMB Sun Life was officially launched on July 28, 2009 and aims to become the major provider of life, accident and health insurance products to CIMB Niaga's customers through its over 670 branches and direct channels across Indonesia. CIMB Sun Life leverages the combined strengths of the two organizations: Sun Life Financial's insurance expertise and infrastructure, and CIMB Group's extensive treasury capabilities and distribution strength.
Note to Editors: All figures in Canadian dollars.
SOURCE Sun Life Financial Inc.