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 U.S. has renewed its national sponsorship of Project Power, a program by the American Diabetes Association, aimed at promoting healthy lifestyle choices among youth. The program, which served over 4,600 children in 2021, includes lessons on nutrition and fitness to combat childhood obesity and type 2 diabetes. Survey results indicate significant improvements in participants' health knowledge and habits. Sun Life's ongoing support reflects its commitment to enhancing health outcomes, especially in underserved communities.
Sun Life Financial Inc. (TSX: SLF) is set to announce its first quarter 2022 financial results on May 11, following the market's close. The earnings conference call will occur on May 12 at 10:00 a.m. ET. Interested listeners can access the live webcast and presentation materials through Sun Life's investor relations website. As of December 31, 2021, Sun Life had total assets under management of $1.44 trillion.
SLC Management has appointed Tom Murphy as the President of SLC Fixed Income, effective immediately. Murphy, previously Head of Institutional Business, brings over 20 years of experience from Mercer. SLC Management currently oversees C$188B (USD $141B) in fixed income assets and is experiencing significant growth in this sector. The firm aims to enhance client value and expand its range of solutions under Murphy's leadership. The appointment comes at a time of strong demand for fixed income products.
Sun Life Financial Inc. (TSX: SLF; NYSE: SLF) announced its 2022 Annual Meeting for shareholders and voting policyholders will be held in a virtual-only format on May 11, 2022, at 5 p.m. Toronto time. This decision prioritizes the health and safety of stakeholders amid the ongoing COVID-19 pandemic. Attendees can join online, submit questions, and vote on key matters. Shareholders are encouraged to vote in advance, with deadlines set for May 9 and May 4 for proxies. More details can be found on SEDAR and the company’s website.
Sun Life Financial Inc. (TSX: SLF, NYSE: SLF) cautions shareholders about an unsolicited mini-tender offer from Obatan LLC, priced 35.7% lower than market value. The offer targets up to 50,000 common shares and is not endorsed by Sun Life. Securities regulators in Canada and the U.S. advise caution regarding mini-tender offers due to potential investor confusion and the likelihood of below-market pricing. Shareholders can withdraw their shares until May 31, 2022, but should consult their advisors before making decisions.
On April 5, 2022, Sun Life Indonesia and CIMB Niaga announced a deepened partnership in Indonesia, now extending their collaboration for 15 years starting January 2025. This agreement enhances Sun Life's insurance offerings through all CIMB Niaga channels, leveraging a broad network of 427 branches serving 7 million customers. The partnership aims to address the growing insurance needs of Indonesia's emerging middle class, marking a significant strategy to expand Sun Life's distribution capacity and enhance customer value.
Sun Life and the Boston Celtics celebrated the successful conclusion of the Fit to Win program, a four-week initiative designed for YMCA children in grades 3-6. The hybrid model allowed participation both at home and in local YMCA gyms, encouraging fitness and healthy habits. Participants showed increased exercise frequency and fruit and vegetable consumption through surveys. This year’s program also launched a 'Captain of the Week' initiative to recognize participants. Sun Life continues to support community wellness initiatives in partnership with the Celtics and YMCA of Greater Boston.
Sun Life Financial Inc. (TSX: SLF) announced its Annual Meeting of shareholders and voting policyholders will take place on May 11, 2022, either virtually or in person, depending on COVID-19 guidelines. Shareholders are encouraged to vote in advance and can submit questions during the virtual meeting. The meeting materials, including the 2021 Annual Report, are available online. The company also reported that board members William D. Anderson and Martin J. G. Glynn will retire, while Scott F. Powers will succeed Anderson as Chair of the Board.
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