His son Thomas Bassett Macaulay succeeded him in 1915. Robertson Macaulay, who rose from secretary to company president, left his mark on every area of the operation, from the agency system to governance policies during the first part of the 20th century. Sun Life was also quick to begin acquiring other businesses during an early period of consolidation in the industry. The segment would be an important area of business for decades to come. In addition to establishing an international presence early in its history, Sun Life was an innovator in Canada's group insurance market. Within another 15 years, Sun Life expanded its reach to 68 countries, with 35 percent of its business outside of Canada. Other international locales established by 1900 included: the Philippines, Japan, China, Hong Kong, Malaysia, India, Egypt, Palestine, and points throughout South America. Sun Life entered into business in the United Kingdom in 1893 and in the United States two years later both markets would yield significant business. Sun Life began international operations during the year, in Barbados. The move riled established players in the industry, but eventually took hold worldwide. In 1880, the company broke ground with the introduction of the "unconditional" policy, lifting occupational and residency restrictions. Founder Matthew Hamilton Gault, a member of an Irish immigrant family, served as managing director, then as vice-president. Between late summer and year-end 1871, Sun issued $404,000 in policies.
According to the company's web-based history, the structure allowed the company to develop quickly and compensate agents in a manner that helped further stimulate growth. Six years later the parent company became Sun Mutual Life Insurance Company of Montreal, operating as a joint-stock enterprise. Sun Life Financial Inc.'s earliest predecessor, Sun Insurance Company of Montreal, was chartered in 1865 subsidiary Sun Life Assurance was also incorporated that year.
In addition to life insurance, the company offers a range of wealth management and protection products to both corporations and individuals. A leading Canadian insurer, the diverse financial services operation also serves customers in the United States, Asia, and the United Kingdom. ranks among the top North American publicly traded life insurance companies, in terms of market capitalization. NAIC: 525910 Open-End Investment Funds 524113 Direct Life Insurance Carriers 524114 Direct Health and Medical Insurance Carriers 525110 Pension Funds 551112 Offices of Other Holding Companies Stock Exchanges: Toronto New York Philippine
Incorporated: 1865 as Sun Insurance Company of Montreal
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