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) has announced its definitive agreement to acquire DentaQuest for US$2.475 billion, effectively more than doubling its U.S. employee benefits revenue. This acquisition positions Sun Life as a leading provider of dental benefits in the U.S., serving over 33 million members. The transaction is expected to be accretive to underlying earnings per share by C$0.17 in 2022, increasing to C$0.24 in 2024 through synergies. The deal highlights a strategic focus on government dental benefits and emphasizes the importance of oral health integration.
On September 30, 2021, Sun Life and the Kansas City Royals raised over $21,000 for the Boys & Girls Clubs of Greater Kansas City through the Strikeout Diabetes program. For each Royals strikeout, Sun Life donated $21 to support local youth health initiatives. This collaboration aims to combat diabetes, affecting a person every 21 seconds in the U.S. The donation highlights Sun Life's commitment to community support, having previously donated over $21 million to diabetes-related causes globally.
Sun Life Financial Inc. (TSX: SLF, NYSE: SLF) announced the successful redemption of all issued Class A Non-Cumulative Preferred Shares Series 1 and Series 2. This strategic move, completed on September 29, 2021, enhances the company's capital structure and reflects its commitment to optimizing shareholder value. As of June 30, 2021, Sun Life managed total assets of $1.36 trillion across various global markets, positioning itself as a leading international financial services organization.
Leonardo Dionicio, vice president of the Technology Foundation for Sun Life U.S., has been recognized for the second consecutive year in the HITEC 100 list, celebrating influential Hispanic IT professionals. Dionicio has contributed to advancing Sun Life's digital capabilities and managing business continuity during the pandemic. The HITEC 100 will be virtually celebrated on December 9, 2021. Sun Life, with total assets under management of C$1.36 trillion as of June 30, 2021, aims to enhance diversity in the technology sector through various recruitment and development initiatives.
Sun Life Financial announced that on September 30, 2021, 525,503 Series 10R preferred shares will convert to Series 11QR shares, while 444,247 Series 11QR shares will revert to Series 10R. Post-conversion, there will be 6,838,672 Series 10R shares and 1,161,328 Series 11QR shares outstanding. Each share can potentially be redeemed for $25.00 with regulatory approval starting September 30, 2026. Additionally, the shares are not registered under U.S. securities law and thus cannot be offered in the U.S.
Sun Life U.S. has announced the launch of its AbsenceTech Bundle, designed to assist employers in managing absence compliance while allowing self-administration. This innovative solution combines expert support from Sun Life with Presagia's Leave Genius Pro technology, enabling employers to comply with federal and state leave laws efficiently. The AbsenceTech Bundle is tailored for companies with 100+ employees, effective January 1, 2022, and aims to provide a balanced approach to absence management, addressing the diverse needs of various employers.
On September 9, 2021, Sun Life launched Health Navigator, powered by PinnacleCare, to assist individuals in navigating complex healthcare systems. This service provides personalized support to obtain accurate diagnoses and treatment options, enhancing healthcare experiences and outcomes. Health Advisors connect members with a national network of specialists and treatment centers. Additionally, this service is integrated with stop-loss coverage for employers, aimed at reducing healthcare costs. As of June 30, 2021, Sun Life held assets worth C$1.36 trillion.
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