Exhibit 99.1

News release via Canada NewsWire, Toronto 416-863-9350

	    Attention Business Editors:
	    Sun Life Financial announces Preferred Share issue

	    TORONTO, May 13 /CNW/ - Sun Life Financial Inc. (TSX/NYSE: SLF) today
announced a Canadian public offering of $250 million of Class A Non-Cumulative
Rate Reset Preferred Shares Series 8R (the "Series 8R Shares"). The Series 8R
Shares will be issued to the public at a price of $25.00 per share and holders
will be entitled to receive non-cumulative preferential fixed quarterly
dividends for the initial period ending June 30, 2015, as and when declared by
the Company's board of directors, payable in the amount of $0.271875 per
Preferred Share, to yield 4.35 per cent annually.
	    On June 30, 2015, and every five years thereafter, the dividend rate will
reset at a rate equal to the 5-Year Government of Canada bond yield plus 1.41
per cent. Subject to certain conditions, holders may elect to convert any or
all of their Series 8R Shares into an equal number of Class A Non-Cumulative
Floating Rate Preferred Shares Series 9QR (the "Series 9QR Shares") on June
30, 2015 and on the 30th of June every fifth year thereafter. Holders of the
Series 9QR Shares will be entitled to receive non-cumulative preferential
floating rate quarterly dividends, as and when declared by the Company's board
of directors, equal to the then 3-month Government of Canada Treasury Bill
yield plus 1.41 per cent.
	    The net proceeds of the offering will be used for general corporate
purposes. The offering will be underwritten by a syndicate led by Scotia
Capital Inc., RBC Dominion Securities Inc. and TD Securities Inc. on a bought
deal basis, and is expected to close on May 25, 2010. The proceeds from this
domestic public offering are expected to qualify as Tier 1 capital of Sun Life
Financial Inc. under current capital adequacy guidelines established by the
Office of the Superintendent of Financial Institutions (OSFI).
	    The underwriters have been granted an option to purchase up to an
additional $50 million of the Series 8R Shares exercisable at any time up to
two business days before closing. The maximum gross proceeds raised under the
offering will be $300 million if this option is exercised in full.
	    Subject to regulatory approval, Sun Life Financial Inc. may redeem the
Series 8R Shares in whole or in part on June 30, 2015 and on the 30th of June
every five years thereafter.
	    An application is being made to list the Series 8R Shares as of the
closing date on the Toronto Stock Exchange.
	    The Series 8R Shares have not been, and will not be, registered under the
United States Securities Act of 1933, as amended, and, subject to certain
exceptions, may not be offered, sold or delivered, directly or indirectly, in
the United States of America or for the account or benefit of U.S. persons.
This release does not constitute an offer to sell or a solicitation to buy
such securities in the United States.

	    About Sun Life Financial
	    Sun Life Financial is a leading international financial services
organization providing a diverse range of protection and wealth accumulation
products and services to individuals and corporate customers. Chartered in
1865, Sun Life Financial and its partners today have operations in key markets
worldwide, including Canada, the United States, the United Kingdom, Ireland,
Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. As of
March 31, 2010, the Sun Life Financial group of companies had total assets
under management of $435 billion. For more information please visit
www.sunlife.com.
	    Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and
Philippine (PSE) stock exchanges under the ticker symbol SLF.

	    Note to Editors: All figures in Canadian dollars.

	    %CIK: 0001097362

	    /For further information: Media Relations Contact: Frank Switzer,
Vice-President, Corporate Communications, Tel: (416) 979-4086,
frank.switzer(at)sunlife.com; Investor Relations Contact: Phil Malek,
Vice-President, Investor Relations, Tel: (416) 204-8163,
investor.relations(at)sunlife.com/
	    (SLF. SLF)

CO:  Sun Life Financial Inc.

CNW 15:26e 13-MAY-10