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 announced that Leonardo Dionicio, VP of Technology Foundation for Sun Life U.S., has been recognized in the HITEC 2021 100 list, highlighting top Hispanic professionals in technology. This achievement reflects his significant contributions and leadership in advancing technology solutions at Sun Life. Dionicio, who joined from Travelers, is responsible for driving innovation and ensuring business continuity. The HITEC 100 awards will be held virtually on December 8, 2020.
Sun Life Financial Inc. (TSX: SLF) announced the impending retirement of President and CEO Dean Connor, effective August 6, 2021. CFO Kevin Strain will succeed Connor as President on February 15, 2021, and later take over as CEO. Under Connor's leadership, Sun Life achieved a 12% annual growth in underlying earnings per share and increased assets under management from C$466 billion to C$1.2 trillion. The transition aims to continue the company's commitment to client-centric strategies and digital innovation.
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Sun Life Financial Inc. (TSX: SLF, NYSE: SLF) has announced a 15-year exclusive bancassurance partnership with Asia Commercial Joint Stock Bank (ACB) in Vietnam, effective January 1, 2021. This collaboration will enable ACB's 371 branches to distribute Sun Life Vietnam's insurance solutions to over 3.6 million clients. Sun Life Vietnam reported a 47% increase in sales for the year ending September 30, 2020. This partnership reinforces Sun Life's commitment to expanding its distribution capabilities and enhancing customer experience in the fast-growing Vietnamese market.
On November 4, 2020, Sun Life Financial Inc. (TSX: SLF) announced a dividend of $0.55 per common share, payable on December 31, 2020, to shareholders of record by November 25, 2020. The dividend remains unchanged from the previous quarter. Additionally, several dividends on Class A Non-Cumulative Preferred Shares were declared, with amounts ranging from $0.098238 to $0.296875 per share, also payable on December 31, 2020. All dividends are designated as eligible dividends under Canada's Income Tax Act.
Sun Life Financial Inc. (SLF) reported strong Q3 2020 results, with net income rising to $750 million, up 10% from Q3 2019, and underlying net income increasing to $842 million. The company's reported ROE improved to 13.5%. Year-to-date profit highlights include $2.351 billion in underlying net income. While Canadian insurance sales saw a 28% decline, wealth sales surged 65%. The company announced its majority acquisition of Crescent Capital Group, aiming to enhance alternative credit solutions. Sun Life continues to strengthen its market position despite COVID-19 challenges.
Sun Life has partnered with Noyo, an API platform, to enhance health insurance data exchange. This collaboration aims to improve the client experience and streamline interactions for employers accessing Sun Life’s benefits. Noyo's infrastructure will create secure connections with HR and benefits platforms, facilitating modern insurance processes. The partnership reflects Sun Life’s commitment to digital innovation, positioning it as a leader in the U.S. group benefits market, serving over 60,000 employers. As of June 30, 2020, Sun Life reported total assets of C$1,122 billion.
Sun Life has announced a strategic partnership with PlanSource to enhance the benefits experience for HR leaders through automated enrollment solutions. This collaboration supports Sun Life's digital strategy, enabling HR teams to streamline benefits administration. Key innovations include real-time Evidence of Insurability data integration and automated benefit plan setup. The partnership aims to improve employee engagement through simplified benefits navigation, particularly in response to increasing digital demands due to the pandemic. Sun Life's commitment to innovative solutions positions it favorably within the benefits landscape.
Sun Life and the Boston Celtics have adapted the annual #SunLifeDunk4Diabetes fundraising event for National Diabetes Awareness Month due to current circumstances. Fans can vote on social media for their favorite dunks from the 2019-2020 season, with Sun Life donating $21 for each hashtag used. The initiative aims to raise 5,000 hashtags to support the YMCA of Greater Boston's diabetes prevention programs, which have received nearly $500,000 since inception in 2014. The event highlights the importance of diabetes management in light of the COVID-19 pandemic.
Sun Life Financial (TSX: SLF; NYSE: SLF) announced its intention to acquire a 51% stake in Crescent Capital Group LP for up to US$338 million (approximately C$450 million). Crescent, a leading global alternative credit investment manager with US$28 billion in assets, will enhance Sun Life's SLC Management portfolio. The deal aims to combine Crescent's expertise with Sun Life's capital, enabling expansion in alternative credit strategies for institutional clients. The acquisition is expected to close in late 2020, pending regulatory approvals.