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 May 5, 2021, Sun Life Financial Inc. announced a dividend of $0.55 per share on common shares, payable on June 30, 2021. The shareholders on record as of May 26, 2021 will receive this payment. Additionally, dividends were declared for Class A Non-Cumulative Preferred Shares, with varying amounts such as $0.296875 for Series 1 and $0.30 for Series 2. All declared dividends are eligible for tax purposes under the Canadian Income Tax Act.
Sun Life Financial Inc. (TSX: SLF) reported strong Q1 2021 results with a net income of $937 million, a 140% increase from $391 million in Q1 2020. Underlying net income rose to $850 million, reflecting a 10% growth. The Company emphasized its commitment to sustainability, announcing an additional $20 billion investment in sustainable initiatives over five years. However, total insurance and wealth sales declined by 6% and 10%, respectively. The Company also plans to acquire Pinnacle Care International, enhancing its health solutions.
Sun Life Financial Inc. has appointed Yaniv Bitton as Vice-President, Head of Investor Relations & Capital Markets, effective May 3, 2021. Yaniv will manage communications with equity and fixed-income analysts and investors, and will lead the capital markets function, which includes the capital funding program and relationships with rating agencies. He reports to Leigh Chalmers, who oversees Corporate Finance functions. As of December 31, 2020, Sun Life had total assets under management of $1,247 billion. The company trades under the ticker symbol SLF.
Sun Life Financial Inc. (TSX: SLF) has announced an agreement to acquire Pinnacle Care International, Inc. for US$85 million (approximately C$108 million20 years of experience and serves more than 2 million people. This strategic move is expected to improve health outcomes and reduce costs associated with serious illnesses, while closing is anticipated in mid-2021, pending regulatory approval.
Sun Life Financial Inc. (TSX: SLF) will release its Q1 2021 financial results on May 5, 2021, after market close. A conference call and webcast will follow on May 6 at 10:00 a.m. ET. Investors can access the live call via telephone or through the company's website.
Sun Life operates globally with total assets under management reaching $1,247 billion as of December 31, 2020. Detailed information regarding the earnings call will be available on their platform post-event.
Sun Life Financial (TSX: SLF) has filed a draft red herring prospectus for the initial public offering (IPO) of its India joint venture, Aditya Birla Sun Life AMC Limited (ABSLAMC). This IPO aims to sell up to 36,029,120 shares, equating to approximately 12.5% of ABSLAMC's paid-up capital, contributing to a public float of 13.5%. ABSLAMC is India's fourth largest asset management company by assets under management, with Sun Life holding a 49% indirect stake. The IPO is contingent upon market conditions and regulatory approvals.
Sun Life U.S. has partnered with Bentley University as the inaugural corporate sponsor for the FirstGen Presidential Fellows program, aimed at aiding first-generation college students. A $100,000 scholarship fund will support two fellows for their four years. The program includes mentoring and leadership experiences, fostering diversity and inclusion.
Sun Life aims to enhance its workforce with diverse candidates while Bentley focuses on increasing student diversity. Students will be notified of their scholarships by Spring 2021.
On March 31, 2021, Sun Life and the Boston Celtics concluded their Fit to Win program, a four-week virtual health initiative aimed at children from YMCA locations in Greater Boston, Hartford, and Southern Maine. The program saw kids from grades 3 to 6 participate in fitness routines and mindfulness practices while learning about nutrition. Nearly 450 Sun Life employees also engaged in the initiative. New this year were virtual nutrition workshops, funded by the Celtics and Sun Life, which provided grocery gift cards and healthy cooking lessons.
Sun Life Financial Inc. (TSX: SLF) has announced that its Annual Meeting of shareholders and the Annual Meeting of voting policyholders will be held virtually on May 5, 2021, at 5 p.m. (Toronto time). This decision is made to prioritize health during the COVID-19 pandemic. Shareholders will have the opportunity to participate online, submit questions, and vote on key matters. Additionally, nominations for Directors Deepak Chopra and David H. Y. Ho have been announced for election. The Company’s 2020 Annual Report and related meeting documents are now available online.
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