Sun Life Finl Stock Price, News & Analysis

Sun Life Financial Inc. (TSX: SLF) has appointed Laurie Hylton to its Board of Directors effective December 31, 2022. Hylton, a senior finance executive with over 25 years in the asset management industry, previously served as CFO for Eaton Vance Corp. Her experience includes strategic roles during Morgan Stanley's acquisition of Eaton Vance. The addition of Hylton increases the board's female representation to 55%, aligning with Sun Life's diversity commitments. The company aims for 25% of senior leaders to come from under-represented communities by 2025 and to achieve gender parity in senior management globally.

Sun Life U.S. has been recognized as a Top Place to Work by the Boston Globe for the fifth consecutive year. This achievement reflects the company's commitment to employee engagement through flexible work options and a comprehensive paid family and medical leave program. The redesign of office spaces and a strong focus on diversity, equity, and inclusion initiatives have contributed to a supportive workplace culture. Sun Life also supports mental health initiatives and provides employees with opportunities for personal development through sabbaticals.

Sun Life Financial Inc. (TSX: SLF) announced the successful redemption of its Series 2017-1 Subordinated Unsecured 2.75% Fixed/Floating Debentures totaling $400 million. This strategic financial move is aimed at optimizing the company's capital structure. As of September 30, 2022, Sun Life reported total assets under management of $1.27 trillion, showcasing its significant presence in the financial services sector across multiple countries.

Sun Life has appointed Tom Murphy as Executive Vice-President and Chief Risk Officer, effective December 1, 2022. Murphy, previously President of Fixed Income at SLC Management, brings over 25 years of experience in global asset management. He will oversee risk management globally, including Financial, Insurance, Credit, and Operational risks. He succeeds Colm Freyne, who will retire on May 1, 2023. Sun Life's assets under management total $1.27 trillion as of September 30, 2022.

Sun Life officially opens its new office at One Financial Plaza in Hartford on November 14, 2022. Designed to foster collaboration, the office accommodates up to 450 employees, with over 400 Sun Life employees living nearby. The office includes various spaces for different work styles, such as the 'Collaboration Arena' and 'Library'. Sun Life's investment in Hartford highlights the city's talent pool and supports local diversity initiatives. The office aligns with sustainability goals, featuring motion-controlled LED lighting and EV charging stations. The company employs over 6,000 across its US operations.

On November 2, 2022, Sun Life Financial Inc. (TSX: SLF) announced a dividend increase of $0.72 per common share, payable on December 30, 2022. This marks a 3 cent raise from the previous quarter. Additionally, dividends were declared for various classes of preferred shares, with amounts ranging from $0.114063 to $0.345819, also payable on December 30, 2022. Shareholders must be on record by November 23, 2022. All dividends are designated as eligible under the Income Tax Act of Canada.

Sun Life Financial Inc. (SLF) announced its Q3 2022 results, reporting a net income of $466 million, down 54% from Q3 2021, while underlying net income increased by 5% to $949 million. The EPS figures were $0.80 (reported) and $1.62 (underlying). The company increased its dividend from $0.69 to $0.72 per share. Strong insurance sales of $943 million (+50% YoY) were noted, particularly in the U.S. market, which rose 84%. However, asset management faced challenges with $7.7 billion in net outflows. The company anticipates growth from strategic partnerships and acquisitions in its Asset Management segment.

Sun Life has expanded its philanthropic efforts to enhance access to mental health services for underserved communities. Partnering with the National Alliance on Mental Illness (NAMI) and the Black Mental Health Alliance (BMHA), Sun Life aims to support programs that provide vital mental wellness services. The initiatives include healing-focused programs for the Black community and the relaunch of NAMI's Hearts+Minds initiative. This strategic expansion reflects Sun Life's recognition of the correlation between mental and physical health and its commitment to addressing health inequities.

Sun Life Financial Inc. (TSX: SLF, NYSE: SLF) announces its third quarter 2022 financial results will be released on November 2 after market close. A conference call will follow on November 3 at 10:00 a.m. ET for discussion and insights into the results. The company is an international financial services organization with total assets under management of $1.26 trillion as of June 30, 2022. Shareholders and analysts are encouraged to access the call via webcast. Visit www.sunlife.com/QuarterlyReports for details.