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. (TSX: SLF) has completed its acquisition of an 80% stake in InfraRed Capital Partners, a UK-based global infrastructure and real estate manager, as of July 1, 2020. InfraRed manages approximately US$12 billion (C$17 billion) in assets. This acquisition is set to enhance Sun Life's SLC Management's investment offerings, particularly in infrastructure equity and sustainable investments. The deal positions Sun Life to tap into opportunities in renewable energy infrastructure in North America, with a potential to acquire remaining interests by 2025.
Cancer remains the leading cause of high medical costs, according to Sun Life's 2020 report, highlighting trends in high-cost claims and injectable drugs. The average cost for cancer drugs exceeded $76,000 per person in 2019. The report indicates a significant rise in million-dollar claims, particularly those exceeding $3 million, which increased from 7 to 14 between 2016 and 2019. 86% of self-funded employers are expected to experience stop-loss claims. A webinar on June 30 will further analyze these trends.
Sun Life Financial Inc. (TSX: SLF) announced a conversion of its preferred shares, with 116,341 Class A Non-cumulative Rate Reset Preferred Shares Series 8R shifting to Class A Non-cumulative Floating Rate Preferred Shares Series 9QR, effective June 30, 2020. Conversely, 1,140,986 Series 9QR Shares will convert to Series 8R. Post-conversion, the company will have 6,217,331 Series 8R and 4,982,669 Series 9QR Shares outstanding. Both series will be listed on the Toronto Stock Exchange under the symbols SLF.PR.G and SLF.PR.J. Redemption options are available starting June 30, 2025.