Welcome to our dedicated page for Sun Life Financial news (Ticker: SLF), a resource for investors and traders seeking the latest updates and insights on Sun Life Financial 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 Financial Inc. (TSX: SLF, NYSE: SLF) is set to release its first quarter 2023 financial results on May 11, 2023, after market closure. Following this, a live conference call will take place on May 12, 2023, at 10:00 a.m. ET. Interested listeners can access the call via webcast or conference call options, with a replay available post-event.
The company, a key player in the international financial services sector, offers diversified asset management, wealth, insurance, and health solutions across various global markets. As of December 31, 2022, Sun Life boasted total assets under management valued at $1.33 trillion.
On April 5, 2023, Sun Life U.S. announced the appointment of Dr. Miles Varn as chief medical officer, a role aimed at enhancing the company's health services offerings. With over 30 years in the medical field, Dr. Varn will lead clinical strategies to improve health outcomes for clients. His experience includes serving as CMO at PinnacleCare, which Sun Life acquired in 2021, and as an emergency physician at Inova. Under Dr. Varn's leadership, a new clinical council will be established to coordinate healthcare strategies and policies. This expansion into health services aligns with Sun Life's mission to facilitate healthcare access for over 50 million Americans.
Sun Life Financial, trading under the ticker SLF, has finalized the sale of its UK operations to Phoenix Group Holdings, the UK's largest retirement and savings entity, as of April 3, 2023. This sale involves transferring life and pension policies and annuity blocks, while Sun Life retains its economic interest in the UK payout annuities business. A long-term strategic partnership will ensue, enabling Sun Life’s asset management divisions to manage approximately
Sun Life Financial Inc. (TSX: SLF) announced its Annual Meeting of shareholders and voting policyholders set for May 11, 2023. The meeting will be conducted both in person and virtually, ensuring accessibility for all attendees. Shareholders are encouraged to vote in advance, with deadlines for proxy submissions noted as May 9, 2023, for shareholders and May 4, 2023, for voting policyholders. The 2022 Annual Report, detailing management discussions, consolidated financial statements, and sustainability efforts, is available alongside the Management Information Circular. Detailed meeting materials can be accessed electronically via SEDAR and EDGAR.
Sun Life U.S. has been recognized as a Top 25 Company Where Women Want to Work by Girls Club, highlighting its commitment to gender equality in the workplace. With over 70% of its workforce being female and 38% in leadership roles, the company aims for 50% female representation at the VP level by 2025. Sun Life has also been acknowledged on the Bloomberg Gender Equality Index and received a 100% score on the Human Rights Campaign Corporate Equality Index for 14 years. The organization emphasizes equal pay, comprehensive benefits, and a flexible work culture to support women’s success.
Sun Life Financial Inc. (TSX: SLF) has unveiled a new supplementary financial information template, compliant with the IFRS 17 and IFRS 9 standards effective January 1, 2023. This updated template aims to enhance transparency in financial disclosures. An overview of the revisions and access to the new template are available on their investor relations page. Additionally, Sun Life will report its Q1 financial results, reflecting these new standards, on May 11, 2023, after market closure. As of December 31, 2022, the company managed total assets of $1.33 trillion.
Sun Life U.S. is expanding its Health and Risk Solutions team with experienced industry professionals Mike Martocci and Jamie Smith. This move aims to enhance health-related services, making healthcare access easier for clients while reducing costs. Following the 2021 acquisition of PinnacleCare, Sun Life offers Health Navigator, a service assisting clients in navigating healthcare systems. The company's strong position is reinforced by covering over 5 million individuals through self-funded employers and utilizing an extensive medical claims database for insights into healthcare trends.
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