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. awarded $350,000 in grants to six organizations as part of their Team Up Against Diabetes program, aimed at supporting diabetes prevention and management in underserved communities. The initiative is part of Sun Life's philanthropic efforts to address healthcare access disparities highlighted by the pandemic. Each recipient will utilize the funds for innovative diabetes support programs, nutrition access, and educational initiatives. Since 2016, Sun Life has donated over $1.35 million to diabetes-related programs across the U.S.
Sun Life Financial Inc. (TSX: SLF) announced a dividend of $0.11 per share on common shares, payable on December 31, 2021. Shareholders will receive a total quarterly dividend of $0.66 per share, marking a 20% increase from the previous dividend. This decision follows OSFI's recent removal of restrictions on dividend increases that were in place since March 2020 due to the pandemic. Sun Life remains committed to a dividend payout ratio of 40-50% as part of its financial goals, highlighting its focus on delivering shareholder value.
Sun Life Financial Inc. (TSX: SLF) announced a dividend of $0.55 per share on common shares, payable on December 31, 2021, to shareholders of record by November 24, 2021. This dividend matches the amount paid in the previous quarter. Additionally, several dividends for Class A Non-Cumulative Preferred Shares were declared, with amounts ranging from $0.100633 to $0.28125 per share. All dividends are designated as eligible dividends under Canadian tax laws.
Sun Life Financial Inc. (SLF) reported strong Q3 2021 results with a net income of $1,019 million, a 36% increase from Q3 2020, and an underlying net income of $902 million, up 7%. The company saw positive growth in insurance sales, particularly in Canada, where there was a 24% increase. Sun Life also raised its medium-term financial objective for underlying ROE to over 16% due to improved business performance. The company's commitment to sustainability is exemplified by the appointment of its first Chief Sustainability Officer and plans to achieve net-zero by 2050.
Sun Life Financial Inc. (TSX: SLF, NYSE: SLF) has appointed Ingrid Johnson as the new President of Sun Life Asia effective October 26, 2021. Johnson will oversee operations in eight Asian markets, including China and India, focusing on life, health, and wealth management. She succeeds Léo Grépin, who departed on October 15, 2021.
With over 25 years of experience in the financial services and insurance industries, Johnson previously served as Group Finance Director at Old Mutual plc, playing a key role in the company's restructuring.
Sun Life Financial Inc. (TSX: SLF) will announce its third quarter 2021 financial results on November 3, 2021, after market closure. An earnings conference call and live webcast is scheduled for November 4, 2021, at 10:00 a.m. ET. Investors can access the webcast and presentation slides via the company's website. The call will be available by telephone for participants, and an archive will be accessible post-event. Sun Life reported total assets under management of $1.36 trillion as of June 30, 2021.
Sun Life Financial Inc. (TSX: SLF, NYSE: SLF) has successfully sold its 12.5% indirect stake in Aditya Birla Sun Life AMC Limited for approximately C$430 million, resulting in a projected gain of C$300 million in Q4 2021. Following the IPO, which valued ABSLAMC at around C$3.4 billion, Sun Life's indirect ownership rose to 36.5%. ABSLAMC started trading on October 11, 2021, and is recognized as one of the largest asset management firms in India, boasting significant growth in net income at a 19% CAGR between 2018 and 2020.
Sun Life Financial Inc. (TSX: SLF) announces the retirement of James M. Peck from its Board of Directors after two years of service, bringing deep expertise in data and analytics. The company appointed Helen Mallovy Hicks and Marie-Lucie Morin as new board members, effective October 31, 2021, and December 31, 2021, respectively. Mallovy Hicks has over 30 years in global business management, while Morin has extensive experience in international trade and public service. These appointments align with Sun Life's commitment to diversity, increasing the percentage of women on the board to 42%.
Sun Life Financial Inc. (TSX: SLF, NYSE: SLF) announced its intention to acquire DentaQuest, a leading U.S. dental benefits provider. This strategic move aims to enhance Sun Life's portfolio within the health benefits sector. A conference call will be held on October 4, 2021, at 8:00 a.m. ET to discuss this acquisition in detail. Sun Life manages over C$1.36 trillion in assets as of June 30, 2021, and serves more than 55,000 employers in the U.S.
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