Sun Life Q4 2006 Earnings

Scotia Capital, 9 February 2007Event� Sun Life reported Q4/06 with $0.94 EPS, $0.01 above our estimate and $0.01 above consensus.What It Means� Another steady quarter, once again ahead of consensus. Excellent topline growth in the U.S. (insurance sales up 40%, variable annuity sales up 52%) is very encouraging, as is another solid quarter from MFS (earnings up 63%). We believe the compelling