Canadian insurer Sun Life names Timothy Deacon as CFO

By Thomson Reuters Mar 25, 2024 | 8:32 AM

(Reuters) – Canadian life insurer Sun Life Financial on Monday named industry veteran Timothy Deacon as its chief financial officer, effective April 8.

The insurer had been on a search for a new CFO since December, after it said it would move Manjit Singh to the role of president of the company’s Asia business in March.

Deacon, who has had a more than two-decade long career in the asset management and insurance space, joins Sun Life from Ontario Teachers’ Pension Plan where he served as CFO.

Prior to that, Deacon spent more than a decade at Canada’s largest insurer Manulife Financial where he served in multiple executive positions.

Last month, Sun Life reported a better-than-expected quarterly profit, helped by robust demand for personal insurance in its home market and the United States.

The second-largest Canadian life insurer has benefited from a slew of acquisitions and partnerships to sell through bank’s channels, helping it grow its client base and global presence.

(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shilpi Majumdar and Shailesh Kuber)