Welcome to our dedicated page for Sun Life Finl news (Ticker: SLF), a resource for investors and traders seeking the latest updates and insights on Sun Life Finl 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 Inc. (SLF) reported robust Q2 2021 results with a reported net income of $900 million, up 73% from $519 million in Q2 2020. Underlying net income increased 19% to $883 million. The company highlighted growth across all segments, particularly in Canada and Asia, with insurance sales rising 15% year-over-year. The return on equity improved significantly to 16.3%. However, the U.S. segment faced a 16% decline in insurance sales compared to the previous year. The company also plans to redeem $725 million in preferred shares, subject to regulatory approval.
Sun Life Financial Inc. (TSX: SLF) will announce its second-quarter financial results on August 4, 2021, after market close. A conference call and live webcast will be held on August 5, 2021, at 3:00 p.m. ET to discuss the results. Investors can access the live webcast here. As of March 31, 2021, Sun Life had total assets under management of $1,304 billion. For further inquiries, interested parties can reach out to the respective media and investor relations contacts.
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Sun Life Financial Inc. (TSX: SLF) has finalized its acquisition of PinnacleCare International, a U.S.-based health-care navigation firm. This transaction integrates PinnacleCare's services into Sun Life's U.S. Stop-Loss & Health business, enhancing care experiences for employees facing serious medical conditions. PinnacleCare, with over 170 employees and 20 years of experience, serves over 2 million individuals. The acquisition is expected to broaden Sun Life's market reach and develop new client solutions.
Sun Life Financial Inc. (TSX: SLF) has successfully completed a public offering in Canada, raising $1 billion through the sale of 3.60% Limited Recourse Capital Notes Series 2021-1. The funds will support general corporate purposes, including potential investments and debt repayment. Additionally, the company issued 1 million Class A Non-Cumulative Rate Reset Preferred Shares Series 14 to a trust as part of this offering. The notes and shares are not registered under U.S. securities law, limiting their offering in the U.S.
Sun Life U.S. has launched an expanded Dental Health Center on SunLife.com/us, featuring a new From the desk of Dr. Pink section for dental insights. This platform offers a range of resources, including an oral health center, ask-a-dentist feature for quick dentist consultations, and a cost estimator tool for members. Sun Life's Dental Network includes over 130,000 providers, emphasizing their commitment to enhancing consumer access to dental health information and services, aiming for improved oral and overall health.
On June 23, 2021, Sun Life Financial Inc. (TSX: SLF) announced its intention to issue $1 billion of 3.60% Limited Recourse Capital Notes Series 2021-1, with an anticipated closing date of June 30, 2021. Proceeds will be used for general corporate purposes, including potential investments in subsidiaries and debt repayment. The notes will bear interest at a fixed rate until 2026 and will mature on June 30, 2081. This offering aims to qualify as Tier 1 capital and is managed by RBC Capital Markets, BMO Capital Markets, and TD Securities.
Sun Life's annual report reveals significant trends in high-cost medical claims from 2017-2020. Cancer remains the costliest condition, rising 16% in 2020, with notable increases in claims for mental health (21%), septicemia, and congenital anomalies. The average mental health claim was around $80,000. COVID-19 also played a role, with claims averaging $340,000 for severe cases. Sun Life plans to enhance member support through the acquisition of PinnacleCare, aiming to improve healthcare navigation for its clients.
Sun Life U.S. has appointed Kimberly Mashburn as the new National Absence Practice Leader. Mashburn, previously at The Hartford, will enhance business development and expertise in disability insurance and absence management. Her appointment aims to help employers navigate complex leave laws effectively. In January, Sun Life launched an integrated absence management solution based on client feedback, streamlining the leave process. Mashburn's extensive experience in absence management includes leadership roles at Prudential and Beacon Health Services.
On May 6, 2021, Sun Life Financial Inc. (TSX: SLF, NYSE: SLF) announced the successful election of 12 nominees as directors during its annual shareholders' meeting. The voting results showed strong support for the nominees, with most receiving over 99% approval. Notable figures included Dean A. Connor with 99.8% approval and Scott F. Powers facing the lowest at 91.6%. This election reflects shareholder confidence in the board's leadership as Sun Life continues to manage significant assets of approximately $1,304 billion as of March 31, 2021.