Sun Life Finl Stock Price, News & Analysis

Sun Life U.S. has been recognized as a Top Place to Work by the Milwaukee Journal Sentinel, ranking sixth in the largest companies category. This marks its first recognition in Milwaukee, following its 2022 acquisition of DentaQuest. The award is based on employee feedback and company culture. Sun Life U.S. has also been recognized by the Boston Globe, Hartford Courant, Baltimore Sun, and USA Today for workplace excellence. The company emphasizes a supportive, flexible work environment with multiple business hubs and a hybrid work model. Sun Life U.S. has also received several other commendations, including Forbes America's Best Large Employers and TIME Top Companies for Future Leaders.

Sun Life has published its annual High-Cost Claims and Injectable Drug Trends Analysis report, covering 60,000 stop-loss claims from 2019 to 2022. The report indicates that 87% of self-funded employers encountered at least one high-cost claim. Cardiovascular disease has risen to the second-highest claim, overtaking blood cancers, with a 33% increase in average costs since 2020. Malignant neoplasms remain the highest-paid claims category.

Key findings include a significant rise in newborn/infant care claims, totaling $11.5 million for the highest claim, and an increase in multi-million-dollar claims. Orthopedics/musculoskeletal conditions show the highest number of high-cost claims among top conditions. The top 10 injectable drugs, led by Keytruda, accounted for over $10 million each in total spend.

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Sun Life U.S. has been recognized by Forbes as a Best Employer for Diversity for the second consecutive year. This accolade adds to numerous others from Forbes, reflecting Sun Life's strong commitment to diversity, equity, and inclusion (DEI). The recognition is based on employee surveys conducted by Statista, indicating positive employee feedback. Sun Life's initiatives include several Inclusion Networks, a platform for DEI discussions, and Allies Acting for Change (AAC), a group dedicated to improving DEI within the company. Sun Life has also received multiple other workplace recognitions from reputable sources like the Boston Globe, Hartford Courant, and USA Today.

DentaQuest, part of Sun Life U.S., has donated $30,000 to Tennessee's Interfaith Dental Clinic to support student mentorship programs and a recent fundraising gala.

These programs aim to help local students pursue careers in oral health and increase access to dental care for low-income families.

As the largest provider of Medicaid dental benefits in the U.S. by membership, DentaQuest is committed to expanding dental care accessibility. The donation also aligns with addressing the nationwide health workforce shortage by supporting future dental providers.

Interfaith Dental, a nonprofit serving vulnerable populations, has received DentaQuest's support for over a decade, aiding more than one million Tennessee Medicaid members.

On November 13, 2024, Sun Life Financial (TSX: SLF, NYSE: SLF) will host an Investor Day in Toronto. This event will highlight updates on the company's Client Impact Strategy and strategic priorities. Research analysts attending in-person can engage in live Q&A sessions. The event will take place at 1 York St., 35th floor, Toronto, and will also be available via live webcast. A replay of the webcast will be accessible post-event for those unable to attend in real-time.

Sun Life Financial Inc. announced the election of 11 nominees as directors of the company at the annual meeting of common shareholders. The detailed voting results showed significant support for all directors, showcasing shareholder confidence in the company's leadership. Sun Life, a prominent financial services organization, operates globally with total assets under management of $1.47 trillion as of March 31, 2024.

Sun Life Financial Inc. has announced an increase in the Common Share dividend to $0.81 per share, representing a 3 cent increase from the previous quarter. Dividends on Preferred Shares have also been declared, with dividends ranging from $0.114063 to $0.445713 per share, payable in Q2 2024.

Sun Life Financial Inc. reported its first-quarter 2024 results, with underlying net income of $875 million, a decrease of 2% from Q1'23, and reported net income of $818 million, an increase of 1%. Assets under management reached $1,470 billion, up 8% from Q1'23. The company announced a dividend increase to $0.81 per share. Despite challenges like higher morbidity claims and the sale of Sun Life UK, the capital remains strong. The company plans to continue share buybacks in the coming quarter.

Sun Life U.S. partners with UKG to automate absence management, saving employers time on administrative tasks. Sun Life focuses on enhancing digital capabilities through strategic partnerships to provide meaningful solutions for employers.