Sun Life Finl Stock Price, News & Analysis

On April 5, 2023, Sun Life U.S. announced the appointment of Dr. Miles Varn as chief medical officer, a role aimed at enhancing the company's health services offerings. With over 30 years in the medical field, Dr. Varn will lead clinical strategies to improve health outcomes for clients. His experience includes serving as CMO at PinnacleCare, which Sun Life acquired in 2021, and as an emergency physician at Inova. Under Dr. Varn's leadership, a new clinical council will be established to coordinate healthcare strategies and policies. This expansion into health services aligns with Sun Life's mission to facilitate healthcare access for over 50 million Americans.

Sun Life Financial, trading under the ticker SLF, has finalized the sale of its UK operations to Phoenix Group Holdings, the UK's largest retirement and savings entity, as of April 3, 2023. This sale involves transferring life and pension policies and annuity blocks, while Sun Life retains its economic interest in the UK payout annuities business. A long-term strategic partnership will ensue, enabling Sun Life’s asset management divisions to manage approximately C$8 billion for Phoenix Group, which plans to invest around US$25 billion in North American assets over the next five years.

Sun Life Financial Inc. (TSX: SLF) announced its Annual Meeting of shareholders and voting policyholders set for May 11, 2023. The meeting will be conducted both in person and virtually, ensuring accessibility for all attendees. Shareholders are encouraged to vote in advance, with deadlines for proxy submissions noted as May 9, 2023, for shareholders and May 4, 2023, for voting policyholders. The 2022 Annual Report, detailing management discussions, consolidated financial statements, and sustainability efforts, is available alongside the Management Information Circular. Detailed meeting materials can be accessed electronically via SEDAR and EDGAR.

Sun Life U.S. has been recognized as a Top 25 Company Where Women Want to Work by Girls Club, highlighting its commitment to gender equality in the workplace. With over 70% of its workforce being female and 38% in leadership roles, the company aims for 50% female representation at the VP level by 2025. Sun Life has also been acknowledged on the Bloomberg Gender Equality Index and received a 100% score on the Human Rights Campaign Corporate Equality Index for 14 years. The organization emphasizes equal pay, comprehensive benefits, and a flexible work culture to support women’s success.

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.

Sun Life U.S. is expanding its Health and Risk Solutions team with experienced industry professionals Mike Martocci and Jamie Smith. This move aims to enhance health-related services, making healthcare access easier for clients while reducing costs. Following the 2021 acquisition of PinnacleCare, Sun Life offers Health Navigator, a service assisting clients in navigating healthcare systems. The company's strong position is reinforced by covering over 5 million individuals through self-funded employers and utilizing an extensive medical claims database for insights into healthcare trends.

On March 16, 2023, Sun Life U.S. announced a partnership with Goodpath, a Boston-based digital clinic, to enhance health services for members with musculoskeletal conditions and long COVID-19. This collaboration aims to offer integrative and holistic care to disability members, addressing chronic conditions that drive significant medical claims. Goodpath's program includes personalized health assessments and support from specialized health coaches. It will be available in Q2 2023 for short-term disability benefits related to back or neck issues, and long-term disability benefits for long COVID, marking Sun Life's commitment to improving health outcomes and expanding access to comprehensive care.

Sun Life U.S. has expanded its group life insurance offerings by introducing Self Care+, a digital wellness program in partnership with AbleTo. This on-demand service focuses on enhancing emotional and mental health, allowing members to access tailored content at their convenience. The initiative aims to complement existing health insurance products and improve health outcomes. Employers can add Self Care+ to their basic or voluntary life insurance plans. This development follows strong interest in AbleTo's behavioral health support, showcasing Sun Life's commitment to innovative health-related services.