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. reports recurring developments across its international financial services business, including insurance, wealth, health and asset management solutions for individual and institutional clients. Company updates commonly cover quarterly results, assets under management, segment trends in Canada, the U.S., Asia and asset management, and the performance of Sun Life Asset Management and U.S. Health & Risk Solutions.
News also includes capital actions such as common and preferred share dividends, dividend reinvestment plan mechanics, director elections, annual meeting voting results, executive and governance matters, and partnership activity tied to health and community programs. Sun Life trades under SLF on the Toronto, New York and Philippine stock exchanges.
Sun Life Financial (TSX: SLF) announced plans to acquire a 51% stake in Advisors Asset Management (AAM) for US$214 million, enhancing its retail distribution in the U.S. This acquisition will allow AAM to market SLC Management's alternative investment products to the U.S. retail market. AAM currently manages approximately $41.4 billion in assets, with a growing demand for alternatives among high-net-worth investors. Sun Life will invest up to US$400 million to develop these products. The transaction is expected to close in the first half of 2023.
Kevin Strain, President and CEO of Sun Life, will participate in a fireside chat at the Scotiabank Financials Summit on September 8, 2022, at 1:30 p.m. ET. He will be joined by Meny Grauman from Scotiabank. The event aims to discuss key insights into the financial services sector. A live webcast can be accessed through sunlife.com/scotiabankconference. As of June 30, 2022, Sun Life had total assets under management of $1.26 trillion and operates in several global markets.
Sun Life Financial Inc. (TSX: SLF, NYSE: SLF) has announced the sale of its UK subsidiary, Sun Life UK, to Phoenix Group Holdings plc for £248 million (approximately C$385 million). This move aligns with Sun Life's strategy of focusing on fee-based businesses while retaining an economic interest in its UK payout annuities. The transaction, expected to close in the first half of 2023, includes a long-term asset management partnership where Sun Life's MFS and SLC Management will manage about C$9 billion of Sun Life UK's assets, supporting its growth initiatives.
On August 3, 2022, Sun Life Financial Inc. (TSX: SLF) announced a quarterly dividend of $0.69 per common share, consistent with the previous quarter. The dividend will be payable on September 29, 2022 for shareholders on record by August 24, 2022. Additionally, dividends for Class A Non-Cumulative Preferred Shares were declared, with amounts ranging from $0.114063 to $0.28125 per share, also payable on September 29, 2022. All dividends are designated as eligible for Canadian tax purposes.
Sun Life Financial Inc. (SLF) reported its Q2 2022 financial results, announcing a net income of $785 million, a 13% decline from Q2 2021. However, underlying net income slightly increased by 1% to $892 million. Key metrics include reported EPS of $1.34 and underlying EPS of $1.52. The quarter showcased strong growth in insurance and wealth sales, with total insurance sales reaching $736 million, up 4% year-over-year. The acquisition of DentaQuest bolsters SLF's presence in the U.S. health market, now serving over 50 million Americans.
Sun Life Financial Inc. (TSX: SLF, NYSE: SLF) is set to release its second quarter 2022 financial results on August 3, after market closure. The earnings conference call will take place on August 4 at 10:00 a.m. ET. Investors can access the live webcast and presentation slides through their website. Sun Life is an international financial services organization with assets under management totaling $1.35 trillion as of March 31, 2022, serving clients across various global markets.
Sun Life's 10th annual report on high-cost medical claims reveals significant trends in healthcare costs from 2018 to 2021.
- Million-dollar claims rose 37%, with the highest being $6.23 million for hemophilia.
- COVID-19 became a top 10 costliest condition, totaling $114 million in claims.
- Mental health claims increased by 22%, particularly depressive disorders.
- Approximately 64% of U.S. employees are in self-funded health plans, highlighting the importance of Sun Life's role.
Sun Life Financial Inc. (TSX: SLF) is hosting an IFRS 17 investor education session on May 31, 2022, from 8:30 a.m. to 10 a.m. ET. The session will feature key executives including CEO Kevin Strain and CFO Manjit Singh. Investors can access presentation materials online and listen to a live webcast. A replay of the conference call will be available for two weeks post-event. As of March 31, 2022, Sun Life had total assets under management of $1.35 trillion, with operations across multiple global markets, enhancing its position in the financial services industry.
On May 12, 2022, Sun Life Financial Inc. (TSX: SLF) announced the election of 10 directors during its annual meeting of common shareholders. Significant votes included Deepak Chopra, who received 99.0% approval, and Stephanie L. Coyles, who garnered 99.8%. The company provided detailed voting results, which are accessible through its official website and securities regulators. As of March 31, 2022, Sun Life managed total assets of $1.35 trillion, offering a range of financial services globally.
On May 11, 2022, Sun Life Financial Inc. (SLF) declared a $0.69 per share dividend on common shares, an increase of 3 cents from the previous quarter. This dividend is payable on June 30, 2022 to shareholders of record by June 1, 2022. Additionally, preferred share dividends were announced, with Series 3 and 4 at $0.278125 per share, Series 5 at $0.28125, and others ranging from $0.114063 to $0.185438. All dividends are designated as eligible for the Income Tax Act in Canada.