Yesterday, I sent an email to all Sun Lifers globally about my perspective on what looks like an emerging global trade war between the U.S. and other countries, creating a new economic landscape that affects businesses and individuals worldwide.
At Sun Life, we recognize the significance of these changes and the uncertainty they may bring to our Clients, our people and our communities. With our 160-year history and extensive global presence, Sun Life has successfully navigated numerous economic challenges. In times like these, we're reminded of the importance of being proactive, adaptable, and resilient.
Across Sun Life, we’re closely monitoring economic conditions and their potential impacts on our Clients and our business. We are prepared for more volatile equity markets, interest rates, inflation and currency. Our strong capital position and diversified global businesses provides resilience that is needed in times of stress. Right now it is difficult to say how long the trade war will last and what the ultimate impact will be but we do know we need to be prepared.
While these unprecedented times bring challenges, they also bring opportunities. There will undoubtedly be impacts to people and businesses around the world but I believe we have an opportunity to come out of this stronger over the long-term. We can do this in Canada by unlocking inter-provincial trade barriers, building critical infrastructure and establishing trade agreements with new global partners. It is also important that we have a government that partners with business, helping companies succeed by removing barriers, creating jobs and contributing to economic growth. Most critical is that we move quickly to make the Canadian economy resilient and increase our competitiveness.
While change is hard, as a business and as individuals, we need to quickly adapt to the change and pivot. I have used the analogy at Sun Life that we have been cross country skiing on a relatively flat track, but now we are on the moguls run and we need to ski differently. It’s a mindset shift. Its faster, with more bumps and we need to pivot more quickly.
I remain optimistic about the future. I woke up today with an even stronger belief that Sun Life’s Purpose is powerful - helping Clients achieve lifetime financial security and live healthier lives – and I’m more committed than ever. I asked Sun Lifers around the world to focus on the same while continuing to support one another, no matter where in the world they live. We stand ready to assist our Clients, support our people and communities and provide guidance during these unprecedented times. We are stronger together.
