Sun Life releases updated Supplementary Financial Information template reflecting IFRS 17 and IFRS 9 adoption

Rhea-AI Summary

Sun Life Financial Inc. (TSX: SLF) has unveiled a new supplementary financial information template, compliant with the IFRS 17 and IFRS 9 standards effective January 1, 2023. This updated template aims to enhance transparency in financial disclosures. An overview of the revisions and access to the new template are available on their investor relations page. Additionally, Sun Life will report its Q1 financial results, reflecting these new standards, on May 11, 2023, after market closure. As of December 31, 2022, the company managed total assets of $1.33 trillion.

Positive

• Updated supplementary financial information template enhances transparency.
• Alignment with IFRS 17 and IFRS 9 may improve investor confidence.

Negative

• None.

TORONTO, March 20, 2023 /PRNewswire/ - Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) has released a new template for its supplementary financial information package. The template aligns with financial disclosure changes related to the adoption of IFRS 17 and IFRS 9, which began on January 1, 2023.

The updated supplementary financial information template and an overview of the key changes are available at https://www.sunlife.com/en/investors/.

Sun Life will release its Q1 financial results under the adoption of IFRS 17 and IFRS 9 on May 11, 2023 after markets close.

About Sun Life

Sun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of December 31, 2022, Sun Life had total assets under management of $1.33 trillion. For more information, please visit www.sunlife.com.

Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF. 

Note to editors: All figures in Canadian dollars 

Sun Life Media and Investor Relations contacts:

Rajani Kamath	Yaniv Bitton
Associate Vice-President	Vice-President, Head of Investor
Corporate Communications	Relations & Capital Markets
647-515-7514	416-979-6496
Rajani.Kamath@sunlife.com	Yaniv.Bitton@sunlife.com

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SOURCE Sun Life Financial Inc.

FAQ

What is the main update in Sun Life Financial's recent press release regarding SLF?

The main update is the release of a new supplementary financial information template that aligns with IFRS 17 and IFRS 9.

When will Sun Life Financial release its Q1 financial results for SLF?

Sun Life Financial will release its Q1 financial results on May 11, 2023, after market close.

Where can I find Sun Life Financial's updated financial information?

The updated supplementary financial information template is available on Sun Life's investor relations page.

What are IFRS 17 and IFRS 9 in relation to SLF?

IFRS 17 and IFRS 9 are international financial reporting standards that govern insurance contracts and financial instruments, respectively.