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.
On November 2, 2022, Sun Life Financial Inc. (TSX: SLF) announced a dividend increase of $0.72 per common share, payable on December 30, 2022. This marks a 3 cent raise from the previous quarter. Additionally, dividends were declared for various classes of preferred shares, with amounts ranging from $0.114063 to $0.345819, also payable on December 30, 2022. Shareholders must be on record by November 23, 2022. All dividends are designated as eligible under the Income Tax Act of Canada.
Sun Life Financial Inc. (SLF) announced its Q3 2022 results, reporting a net income of $466 million, down 54% from Q3 2021, while underlying net income increased by 5% to $949 million. The EPS figures were $0.80 (reported) and $1.62 (underlying). The company increased its dividend from $0.69 to $0.72 per share. Strong insurance sales of $943 million (+50% YoY) were noted, particularly in the U.S. market, which rose 84%. However, asset management faced challenges with $7.7 billion in net outflows. The company anticipates growth from strategic partnerships and acquisitions in its Asset Management segment.
Sun Life has expanded its philanthropic efforts to enhance access to mental health services for underserved communities. Partnering with the National Alliance on Mental Illness (NAMI) and the Black Mental Health Alliance (BMHA), Sun Life aims to support programs that provide vital mental wellness services. The initiatives include healing-focused programs for the Black community and the relaunch of NAMI's Hearts+Minds initiative. This strategic expansion reflects Sun Life's recognition of the correlation between mental and physical health and its commitment to addressing health inequities.
Sun Life Financial Inc. (TSX: SLF, NYSE: SLF) announces its third quarter 2022 financial results will be released on November 2 after market close. A conference call will follow on November 3 at 10:00 a.m. ET for discussion and insights into the results. The company is an international financial services organization with total assets under management of $1.26 trillion as of June 30, 2022. Shareholders and analysts are encouraged to access the call via webcast. Visit www.sunlife.com/QuarterlyReports for details.
Sun Life Financial Inc. (TSX: SLF) announced its intention to redeem $400 million of Series 2017-1 Subordinated Unsecured 2.75% Fixed/Floating Debentures. The redemption will occur on November 23, 2022, funded from existing cash and liquid assets. Holders of the debentures will receive the principal amount along with accrued interest up to the redemption date. Following the redemption, interest will stop accruing, and holders will only have the right to the redemption price.
Sun Life has awarded six community organizations with its 2022 Team Up Against Diabetes grants to enhance health services, particularly for underserved populations. Over $32 million has been contributed since the program's inception in 2016. The grants support diverse initiatives, including nutritional education, diabetes prevention, and management services, reaching over 1,600 individuals across various states. Sun Life aims to improve health equity by funding these community-based programs that address the growing diabetes epidemic.
Sun Life Financial (TSX: SLF) announced plans to acquire a 51% stake in Advisors Asset Management (AAM) for US$214 million, enhancing its retail distribution in the U.S. This acquisition will allow AAM to market SLC Management's alternative investment products to the U.S. retail market. AAM currently manages approximately $41.4 billion in assets, with a growing demand for alternatives among high-net-worth investors. Sun Life will invest up to US$400 million to develop these products. The transaction is expected to close in the first half of 2023.
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