Sun Life Vietnam names new CEO

Industry veteran has held roles in Southeast Asia and North America

Sun Life Vietnam names new CEO

Insurance News

By Gabriel Olano

Sun Life Financial has appointed Nhon Luc Ly (pictured) as CEO of its Vietnam business. He succeeds Larry Madge, who returned to Toronto for a role at the insurer’s headquarters.

Nhon has more than 26 years of experience, including roles in executive, finance, strategy and actuarial across Vietnam, Myanmar and Canada. He was most recently chief executive of AIA Myanmar and, prior to that, was chief financial officer of AIA Vietnam for 12 years. He also worked for ACE Life in Vietnam and Canada Life in Toronto.

Nhon reports to Ingrid Johnson, Sun Life Asia president, and is a member of the Sun Life Asia executive team.

“We are very excited to welcome Luc to Sun Life,” said Kevin Strain, Sun Life president and chief executive officer. “Luc joins our Vietnam business at a moment of immense growth and potential. Over the past five years, our client base in Vietnam has more than tripled and sales have more than quadrupled. Luc is a strategic and entrepreneurial leader and highly respected veteran in the Vietnamese market with a proven track record of success. I am confident he will be a tremendous asset to lead the next phase of our journey in Vietnam as we help even more Clients achieve lifetime financial security and live healthier lives.”

According to Sun Life Vietnam, it achieved sales growth of 564% in the first half of 2021, with significant growth across its agency, bancassurance, and alternative partnership channels.

Nhon has a bachelor’s degree in actuarial science and a master’s in statistical science from the Université de Montréal. He is a fellow of the Society of Actuaries and the Canadian Institute of Actuaries.

“My ambition is to make Sun Life the top insurer in Vietnam,” Nhon said. “It’s certainly not a small goal, but one I believe we can achieve by working together with our partners, growing a fully-focused agency force, increasing our brand visibility and enhancing our technology capabilities to provide the best client experience.”

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