Sun Life Financial Inc. (TSX:SLF) is looking for acquisitions. Timothy Deacon, EVP and CFO, said, "But that being said, we continue to be in the market and always opportunistically looking for opportunities that would add to our existing capabilities. And so they need to be on strategy.
They need to be able to contribute to our medium-term financial objectives, and we have to have the capacity and track record to be able to execute". "So if I thought about where would we deploy future M&A, it would be probably in more niche capabilities. It'd be smaller tuck-in, roll-up type acquisitions.
It might be to enhance or augment our existing asset management capabilities to supplement those niche areas. It might be in further distribution opportunities in Asia if they came up with the right partner. And then where relevant and where we have capacity and track record to execute in the health and wealth space in Canada and over time in the U.S".
"Smaller tuck-in extension of what we do. And again, they would have to meet all those criteria, and we'd be very disciplined about how we would deploy that". "That gives us ample dry powder to opportunistically pursue the M&A that we spoke about and the share buybacks is not burning a hole in our pocket.
We want to be disciplined about the deployment of that, and that's been a hallmark of Sun Life historically and consistently".
