Sun Life Finl Stock Price, News & Analysis

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.

Sun Life has announced the dividend rates for its Class A Non-Cumulative Rate Reset Preferred Shares Series 10R and Series 11QR, effective from September 30, 2021. The Series 10R Shares will pay a dividend of 2.967% per annum, equating to $0.185438 per share quarterly, while the Series 11QR Shares will offer a floating rate of 2.357% per annum or $0.148523 per share for the period ending December 30, 2021. Investors have until September 15, 2021, to exercise conversion rights. The shares are not registered in the U.S., and the announcement reflects the company's ongoing commitment to shareholder returns.

Sun Life U.S. will relocate its Connecticut office to One Financial Plaza in Hartford, occupying 47,000 square feet. This move is designed to strengthen talent acquisition in a key insurance market. The new office will accommodate up to 450 employees, enhancing operational efficiency with modern amenities. The relocation is seen as a positive signal for Hartford's economic recovery post-pandemic, reinforcing the city's business ecosystem. Design work starts in early 2022, with a planned occupancy in September 2022.