Welcome to our dedicated page for Sun Life Finl news (Ticker: SLF), a resource for investors and traders seeking the latest updates and insights on Sun Life Finl stock.
Sun Life Financial Inc. (TSX: SLF, NYSE: SLF) is a leading international financial services organization dedicated to helping customers achieve lifetime financial security and live healthier lives. Headquartered in Toronto, Canada, Sun Life operates globally with key markets in Canada, the United States, the United Kingdom, Hong Kong, the Philippines, and Indonesia.
Sun Life offers a comprehensive suite of insurance and investment products and services to both individual and corporate customers. The company's core offerings include life insurance, retirement and asset management products. As of the fourth quarter of 2023, Sun Life’s investment management business oversees approximately CAD 1 trillion in assets under management, contributing about 30% to its adjusted earnings. The firm’s Canadian operations, which generate around 35% of adjusted earnings, provide individual life and health insurance, group insurance, retirement services, and wealth management solutions. In the United States, the company focuses on group insurance products, contributing approximately 22% to overall earnings. Meanwhile, the Asian segment, covering markets such as the Philippines and Indonesia, accounts for 13% of Sun Life's earnings.
Noteworthy achievements include the recent announcement of a quarterly dividend of $0.78 per share, reaffirming the company's commitment to rewarding its shareholders. Sun Life has also shown strong support for legislative changes, such as the Paid Family and Medical Leave Tax Credit Extension and Enhancement Act, which promotes paid leave benefits for employees in the U.S.
Recent Projects and Initiatives:
- Sun Life U.S. and the Boston Celtics concluded their 10th annual Fit to Win program, promoting fitness and healthy lifestyles among children.
- DentaQuest, part of Sun Life U.S., donated $30,000 to the Interfaith Dental Clinic in Tennessee, enhancing access to dental care for low-income families.
- Sun Life released its annual High-Cost Claims and Injectable Drug Trends Analysis report, providing vital insights into healthcare cost trends.
Sun Life’s robust financial condition is underscored by a strong capital position, with a LICAT ratio of 148% as of Q1 2024. The company continues to be a global leader in asset management, with a significant presence in both public and alternative asset classes through its subsidiaries MFS and SLC Management. The firm remains committed to sustainable investing, as evidenced by its recent projects in renewable energy.
Sun Life's diverse and employee-centric culture, with more than 15,000 employees and 12,000 advisors worldwide, emphasizes its mission to provide asset management, wealth, insurance, and health solutions to its clients. For more information, please visit www.sunlife.com.
Sun Life U.S. and DentaQuest have opened applications for their 2025 Health Access Hero awards, an initiative recognizing organizations and individuals who strengthen health equity in their communities. The program focuses on improving access to care in areas including oral health, diabetes, obesity prevention, and nutrition.
The awards feature two tracks: grants for community organizations' health programs and recognition of impactful individuals. Individual Heroes receive a $10,000 donation to their chosen charity. The program has historically provided over $3 million in grants and recognized more than 125 individuals nationwide.
Recipients can include hospitals, health clinics, grassroots organizations, and individuals such as health providers, nonprofit directors, academic faculty, or community organizers. The initiative aims to address various healthcare challenges including transportation barriers, out-of-pocket costs, and workforce shortages.
Sun Life Financial (TSX: SLF) (NYSE: SLF) has announced its Q1 2025 dividend declarations. The company will pay a dividend of $0.84 per common share, maintaining the same amount as the previous quarter, payable March 31, 2025, to shareholders of record as of February 26, 2025.
The company also declared dividends on its Class A Non-Cumulative Preferred Shares, with varying amounts across different series: Series 3 and 4 at $0.278125, Series 5 at $0.28125, Series 8R at $0.114063, Series 9QR at $0.301500, Series 10R at $0.185438, and Series 11QR at $0.348349 per share.
Common shares acquired under the Canadian Dividend Reinvestment and Share Purchase Plan will be purchased on the open market through the Toronto Stock Exchange and other Canadian trading platforms. All declared dividends are designated as eligible dividends under the Income Tax Act (Canada).
Sun Life Financial (TSX: SLF) (NYSE: SLF) reported its Q4 and full-year 2024 results. Underlying net income for Q4 was $965 million, down 2% year-over-year, while full-year underlying net income increased 3% to $3,856 million. Reported net income for Q4 decreased 68% to $237 million, impacted by lower tax-exempt investment income and a $186 million impairment charge in Vietnam.
Key financial highlights include: Assets under management reached $1,542 billion, up 10% from 2023; LICAT ratio at SLF was 152%; and underlying ROE was 16.5% for Q4. By segment, Wealth & asset management underlying income increased 11% to $486 million, Group Health & Protection decreased 27% to $266 million, and Individual Protection rose 19% to $339 million.
The company saw strong performance in Asia and Canada, with 17% and 6% growth respectively in underlying net income for the full year. U.S. business faced challenges with unfavorable morbidity experience in medical stop-loss.
Sun Life U.S. has expanded its Family Leave Insurance (FLI) to Georgia, Louisiana, Mississippi and South Carolina, bringing the total to 11 states. The fully insured offering enables employers to provide paid family leave benefits, addressing the gap between unpaid FMLA leave and employees' financial needs.
The expansion builds on existing coverage in Alabama, Arkansas, Florida, Kentucky, Oklahoma, Tennessee and Texas. FLI aligns with the federal paid leave tax credit and helps employers, particularly small and mid-sized businesses, offer competitive benefits without self-funding risks.
The program features online claims submission and leave tracking capabilities. The new states will begin quoting on February 1, with additional state approvals expected in 2025.
Sun Life U.S. (SLF) and the Maine Celtics hosted their second annual Fit to Win event at the Boys and Girls Club of Southern Maine in Portland. The program, featuring Maine Celtics players DJ Rodman and Don Carey, Jr., focused on teaching kids about fitness, nutrition, and mental wellness through various activities tracked via 'fitness passport' stamps.
The event included activities like smoothie making, journal writing, and basketball workouts. Sun Life U.S., a provider of employee benefits and health services, partnered with the Maine Celtics in 2023, expanding their existing Boston Celtics partnership. The companies previously collaborated to renovate a basketball court at the Boys and Girls Club in June 2023.
The Fit to Win program, which has been running with the YMCA of Greater Boston since 2015, has reached over 2,000 children across New England. Sun Life and the Boston Celtics also conduct the #SunLifeDunk4Diabetes campaign annually to support the YMCA's Healthy Habits program.
Sun Life Financial (TSX: SLF) (NYSE: SLF) has announced it will release its fourth quarter 2024 financial results on Wednesday, February 12, 2025, after markets close. The company will host a live webcast to discuss the quarterly results on Thursday, February 13, 2025, at 10:00 a.m. ET. Investors and interested parties will be able to access both the call and presentation materials via webcast, with a telephone option also available. A replay of the webcast will be made available following the event.
Sun Life U.S. has been recognized as a Top Place to Work in Kansas City by the Kansas City Business Journal and Energage, adding to its numerous workplace accolades across multiple locations. The Kansas City office, established after acquiring Assurant Employee Benefits in 2016, employs approximately 500 people supporting various business segments including disability, dental, medical stop-loss, and supplemental health insurance.
The company maintains strong community ties, sponsoring the Kansas City Royals and raising over $230,000 for local nonprofits through its #StrikeoutDiabetes campaign. Sun Life offers employees a flexible hybrid work model, comprehensive benefits including paid family and medical leave, and sabbaticals.
The company has received multiple workplace recognitions, including Top Workplace awards from USA Today (2022-2024), Hartford Courant (2021-2024), Boston Globe (2018-2024), and various accolades from Forbes, Great Place to Work, and Bloomberg Gender Equality Index.
Sun Life U.S. has achieved its seventh consecutive recognition as a Top Place to Work by the Boston Globe, based on employee surveys conducted by Energage. The company's Wellesley office, housing approximately 1,300 employees, serves as its largest hub. Sun Life offers comprehensive benefits including flexible hybrid work arrangements, allowing employees to choose their office days for optimal productivity and work-life balance.
The company has garnered multiple workplace recognitions, including awards from USA Today, Hartford Courant, Milwaukee Journal Sentinel, and Kansas City. Notable achievements include listings in Forbes Best Employers for Diversity, Bloomberg Gender Equality Index, and a perfect score on the Human Rights Commission Corporate Equality Index.
Sun Life maintains strong community engagement in Greater Boston through partnerships with the Boston Celtics, YMCA of Greater Boston's #SunLifeDunk4Diabetes campaign, and support for organizations like the United Way and the Dimock Center.
Sun Life U.S. has renewed its support of Northeastern University's Roux Institute Gap Year program with a $50,000 donation. The program places recent college graduates in clinical support positions throughout Maine, addressing healthcare staff shortages. Since its 2023 launch, 54 graduates have been placed in seven healthcare systems.
The program has shown strong results with 80% of participants staying in Maine and all participants pursuing healthcare careers or post-graduate studies. The initiative helps clinical teams increase appointment availability and treat more patients. The Roux Institute, based in Portland, offers graduate degrees in data analytics and life sciences, having first partnered with Sun Life in 2020 for actuarial training.
Sun Life U.S. and the Boston Celtics have completed their 11th annual #SunLifeDunk4Diabetes campaign, raising $105,000 for the YMCA of Greater Boston's Healthy Habits program. The campaign, held during National Diabetes Month in November, generated $1,000 for each Celtics dunk, with the Boston Celtics Shamrock Foundation matching up to $25,000.
The Celtics delivered 60 dunks, with Neemias Queta leading with 25 dunks and Jayson Tatum contributing 13. Fans participated by voting over 130,000 times on Instagram for their favorite weekly dunks. Throughout its 11-year history, the campaign has raised more than $1 million for the YMCA's Healthy Habits program, which has served nearly 1,000 individuals in Greater Boston.
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