Sun Life Finl - SLF STOCK NEWS

Sun Life U.S. and MGIS Companies, Inc. have announced a ten-year extension of their partnership, originally established in 2006. This deal allows Sun Life to remain the exclusive provider of group disability and life insurance for MGIS's healthcare professional clients. The partnership will enhance product offerings, including the unique MGIS IncomeProtect® program, tailored for healthcare professionals. This collaboration aims to support a growing base of healthcare professionals by addressing their complex income replacement needs.

Sun Life Financial Inc. (TSX: SLF), on September 25, 2020, announced the successful redemption of all outstanding Series 2015-1 Subordinated Unsecured 2.60% Fixed/Floating Debentures, totaling $500 million. This move reflects the company's strategy in managing its capital structure. Sun Life operates internationally, with significant assets under management amounting to $1,122 billion as of June 30, 2020. The redemption enhances financial flexibility for the firm, indicating a positive step in its overall fiscal management.

Sun Life U.S. has partnered with the NAACP Legal Defense Fund and More Than a Vote for the "We Got Next" campaign, focusing on promoting voter education and recruiting poll workers in Black communities. In support of racial justice, the company is also backing the Smithsonian's "Talking About Race" portal, providing resources for racial equality. A diverse internal task force, Allies Acting for Change, has been created to enhance inclusive hiring and support Black professionals. Sun Life continues to prioritize equality through active community engagement and internal initiatives.

Sun Life and the Boston Celtics transitioned their annual Fit to Win youth fitness program to a virtual format due to the pandemic. This program, aimed at YMCA youth in Greater Boston, Hartford, and Southern Maine, promotes health and fitness. Participants engaged in online workouts led by Celtics coaches and discussed wellness topics. The finale included a virtual dunk show by Lucky the Leprechaun. Despite missing the live event, the initiative successfully reached more children and families, demonstrating adaptability in promoting youth wellness.

Dean Connor, President & CEO of Sun Life, will engage in a virtual fireside chat at the Scotiabank Financials Summit scheduled for September 10, 2020. Connor's discussion is set to occur from 9:30 a.m. to 9:55 a.m. ET. This event underscores Sun Life's ongoing commitment to providing valuable insights in the financial sector. For those interested in the live webcast, it can be accessed through Sun Life's official website. Following the event, an archived version will also be available.

Sun Life has enhanced its virtual enrollment services due to the ongoing pandemic, allowing employers and employees to navigate benefits without in-person meetings. Demand for these services has surged, with 54% of enrollment clients opting for virtual options this year. Sun Life introduced customized landing pages for employers, which have seen a 98% utilization rate among registered employees. Additionally, telephonic enrollment has increased by 16% since the pandemic began, indicating shifting engagement patterns in benefits enrollment.