S&P: Sun Life view to positive

S&P said it revised the outlook on Sun Life Financial Inc. to positive from stable, reflecting an expectation that Sun Life’s capital adequacy will prospectively remain higher than AAA per the model after the rollout of a new regulatory capital standard.

The agency also said it affirmed the current ratings on Sun Life and its subsidiaries.

Over the last five years, the company has successfully executed its four-pillar strategy, focusing on its Canadian, Asian, Investment Management and U.S. group benefits businesses, S&P said.

The agency said it believes the company will maintain its AAA capital adequacy given its significantly de-risked business risk profile attributed to the successful sale of the U.S. individual annuity business in 2013.

The positive outlook reflects an expectation that Sun Life will maintain its very strong business risk profile, S&P said.

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