Sun Life Financial (NYSE: SLF) has been benefiting from its focus on Asia operations, growing asset management businesses and the scale-up and integration of U.S. operations. Earnings of SLF have risen 5.4% over the last five years. This third-largest insurer in Canada has a decent earnings surprise history. It surpassed estimates in three of the last four quarters and missed in one, the average earnings surprise being 1.76%. Sun Life's focus on the emerging economies of Asia that are expected to provide higher returns and the North American markets bodes well for long-term growth. SLF has a strong presence in China, Philippines, India, Hong Kong and Indonesia and has also forayed into Malaysia and Vietnam. Contribution from Asia business to Sun Life's earnings has increased to 21% over the last few years. Sun Life envisions being one of the top five players and remains focused on growing its voluntary benefits business. The life insurer is also improving its business mix and is thus shifting its growth focus toward products that block lower capital and offer more predictable earnings. Sun Life Investment Management makes investments in private fixed-income mortgages and real estate. It invests in pension ...