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) will announce its fourth quarter 2022 financial results on February 8, 2023, after market close. Following this, an earnings conference call and live webcast will take place on February 9, 2023, at 10:00 a.m. ET. Interested parties can join via the webcast or conference call options available on their website. As of September 30, 2022, Sun Life managed $1.27 trillion in assets. The company provides financial services globally, including Canada, the U.S., and the U.K..
Dah Sing Bank and Sun Life Hong Kong Limited have announced a 15-year exclusive bancassurance partnership in Hong Kong, effective from July 2023, subject to regulatory approval. Under this partnership, Sun Life will become the exclusive provider of life insurance solutions for Dah Sing Bank's 570,000 retail customers. Sun Life will invest HKD 1.5 billion (approximately C$260 million) for this arrangement, with ongoing payments based on partnership success. This collaboration marks Sun Life's first exclusive bancassurance deal in Hong Kong, enhancing its distribution capabilities in a market where bancassurance accounts for over 50% of life insurance sales.
On January 17, 2023, Sun Life U.S. and its subsidiary DentaQuest announced a $100,000 donation to Embrace Boston, a fund dedicated to commemorating the contributions of Dr. Martin Luther King, Jr. and Coretta Scott King. The memorial aims to honor their legacy, particularly in Boston, where they met. Dan Fishbein, president of Sun Life U.S., expressed personal excitement regarding the memorial's unveiling. The donation reflects Sun Life's commitment to social impact and health equity, aligning with their initiatives to support underserved populations through various community programs.
Sun Life U.S. has received the esteemed Delta Award from Alida for innovation in client experience solutions. This recognition highlights Sun Life's ongoing programs, Broker Voices and Employer Voices, which gather direct feedback from brokers and employers on various topics, enhancing product development and digital capabilities. The programs consistently achieve satisfaction scores of 90% to 100%, well above the industry benchmark. Sun Life's commitment to customer feedback aids in creating effective product roadmaps and adapting to market trends.
On December 5, 2022, Sun Life and the Boston Celtics concluded the #SunLifeDunk4Diabetes campaign, donating $155,000 to the YMCA of Greater Boston's Healthy Habits program. During November, known as Diabetes Awareness Month, the initiative raised $105,000 through donations linked to Celtics dunks and Twitter votes. Additionally, Sun Life is granting $50,000 to expand the program to children. Since inception, the campaign has contributed over $800,000 for diabetes education, reinforcing Sun Life's commitment to health initiatives.
Sun Life Financial Inc. (TSX: SLF) has appointed Laurie Hylton to its Board of Directors effective December 31, 2022. Hylton, a senior finance executive with over 25 years in the asset management industry, previously served as CFO for Eaton Vance Corp. Her experience includes strategic roles during Morgan Stanley's acquisition of Eaton Vance. The addition of Hylton increases the board's female representation to 55%, aligning with Sun Life's diversity commitments. The company aims for 25% of senior leaders to come from under-represented communities by 2025 and to achieve gender parity in senior management globally.
Sun Life U.S. has been recognized as a Top Place to Work by the Boston Globe for the fifth consecutive year. This achievement reflects the company's commitment to employee engagement through flexible work options and a comprehensive paid family and medical leave program. The redesign of office spaces and a strong focus on diversity, equity, and inclusion initiatives have contributed to a supportive workplace culture. Sun Life also supports mental health initiatives and provides employees with opportunities for personal development through sabbaticals.
Sun Life Financial Inc. (TSX: SLF) announced the successful redemption of its Series 2017-1 Subordinated Unsecured 2.75% Fixed/Floating Debentures totaling $400 million. This strategic financial move is aimed at optimizing the company's capital structure. As of September 30, 2022, Sun Life reported total assets under management of $1.27 trillion, showcasing its significant presence in the financial services sector across multiple countries.
Sun Life has appointed Tom Murphy as Executive Vice-President and Chief Risk Officer, effective December 1, 2022. Murphy, previously President of Fixed Income at SLC Management, brings over 25 years of experience in global asset management. He will oversee risk management globally, including Financial, Insurance, Credit, and Operational risks. He succeeds Colm Freyne, who will retire on May 1, 2023. Sun Life's assets under management total $1.27 trillion as of September 30, 2022.
Sun Life officially opens its new office at One Financial Plaza in Hartford on November 14, 2022. Designed to foster collaboration, the office accommodates up to 450 employees, with over 400 Sun Life employees living nearby. The office includes various spaces for different work styles, such as the 'Collaboration Arena' and 'Library'. Sun Life's investment in Hartford highlights the city's talent pool and supports local diversity initiatives. The office aligns with sustainability goals, featuring motion-controlled LED lighting and EV charging stations. The company employs over 6,000 across its US operations.
FAQ
What is the current stock price of Sun Life Financial (SLF)?
What is the market cap of Sun Life Financial (SLF)?
What is Sun Life Financial Inc.?
Where does Sun Life operate?
What are Sun Life's core business segments?
How much in assets does Sun Life manage?
What percentage of Sun Life’s earnings come from its Canadian operations?
Has Sun Life announced any recent dividends?
What is Sun Life’s stance on paid family leave?
What community initiatives is Sun Life involved in?
What are some recent achievements of Sun Life’s investment management segment?
How strong is Sun Life's financial condition?
