Financial Data and Key Metrics Changes - Underlying net income for Q4 2024 was $965 million, down 2% year-over-year, while underlying earnings per share remained flat at $1.68 [22] - Full year underlying net income increased 3% to $3.9 billion, with underlying earnings per share up 5% to $6.66 [22] - The LICAT ratio stood at 152%, indicating a strong capital position [9][28] Business Line Data and Key Metrics Changes - Wealth and Asset Management underlying earnings rose 11% year-over-year due to higher fee income, while Group health and protection earnings fell 27% due to unfavorable morbidity experience in the U.S. [24] - Individual protection underlying net income increased 19% year-over-year, driven by improved protection experience and higher contributions from Asia joint ventures [24] - SLC Management achieved record capital raising of $10.2 billion in Q4, with net inflows of $14.1 billion [35] Market Data and Key Metrics Changes - In Canada, Group Benefits revenue increased by 11% year-over-year, while in the U.S., Group Benefits revenue grew by 6% [13] - Asia's underlying net income reached over $700 million, up 17% year-over-year, with total CSM growing by 30% [20][44] - MFS's assets under management were $606 billion, up 1% year-over-year, but down 6% from the prior quarter due to net outflows and market depreciation [31] Company Strategy and Development Direction - The company is focused on helping clients achieve lifetime financial security and improving health outcomes [6][45] - There is a commitment to digital leadership, with initiatives like virtual care services and AI tools for advisers [15][16] - The company aims to maintain a balanced and diversified business strategy to meet medium-term objectives [46] Management's Comments on Operating Environment and Future Outlook - Management noted that the U.S. stop-loss claims experience was adversely affected by higher claims severity, which is a trend observed across the industry [6][24] - The company anticipates continued pricing actions to address the increased severity in claims, with a projected 14% price increase effective January 1, 2025 [55][66] - Management expressed confidence in the company's strategy and ability to navigate the current operating environment [84] Other Important Information - The company reported a significant impairment charge related to bancassurance agreements in Vietnam, reflecting updates to the outlook based on industry factors [26] - Organic capital generation was solid at $350 million for the quarter, representing 36% of underlying net income [28] Q&A Session Summary Question: What is the outlook for the stop-loss loss ratio? - Management indicated that the full year loss ratio for stop-loss in 2024 was 74%, slightly above the pricing target of 73%, and significant price increases are expected for 2025 [54][66] Question: Can you elaborate on the adverse morbidity experience? - Management confirmed that the adverse morbidity experience in Q4 was approximately $50 million, and they do not expect such adjustments to recur in a single quarter [114] Question: What is the impact of the stronger U.S. dollar on tax-exempt income? - Management explained that the strengthening of the U.S. dollar led to lower tax-exempt income on foreign currency assets, resulting in an unusual tax loss for the year [90][92] Question: What are the drivers behind the increase in severity of claims? - Management identified three main drivers: more advanced cancer cases, an increase in premature births, and rising hospital prices [138][142]

Core Insights - Sun Life Financial Inc. (SLF) reported a fourth-quarter 2024 underlying net income of $1.20 per share, missing the Zacks Consensus Estimate by 3.2% and reflecting a year-over-year decrease of 2.4% [1][2] - The company's underlying net income totaled $689.6 million (C$965 million), down 2% year over year, primarily due to a decline in Group - Health & Protection underlying net income [2] - Revenues fell 60.9% year over year to $5.9 billion, missing the Zacks Consensus Estimate by 11.9% [2] Financial Performance - The new business contractual service margin was reported at $218.6 million (C$306 million), down 19.7% year over year [3] - SLF Canada's underlying net income increased by 22.4% year over year to $261.6 million (C$366 million), driven by better performance in Wealth & Asset Management and Individual - Protection [4] - SLF U.S. reported an underlying net income of $161 million, a decrease of 36.4% year over year, attributed to soft performance in Group - Health & Protection and Individual - Protection [5] - SLF Asset Management's underlying net income grew 8.8% year over year to $257 million (C$360 million), supported by higher fee income [6] - SLF Asia's underlying net income increased by 22.4% year over year to $125 million (C$175 million), driven by improved results in Wealth & Asset Management and Individual - Protection [7] Sales and Asset Management - Wealth sales & asset management gross flows increased by 33.3% year over year to $43.6 billion (C$61 billion) in the quarter [2] - SLF's Asset Management AUM reached $779 billion (C$1,121.3 billion), marking a 10% year-over-year increase [6] - SLC Management's AUM increased by 12% year over year to $18.8 billion (C$27 billion) [6] Financial Ratios and Dividends - Global assets under management were reported at $1.1 trillion (C$1,542 billion), up 10% year over year [9] - Sun Life Assurance's LICAT ratio was 146% as of December 31, 2024, expanding 500 basis points from January 1, 2023 [9] - The company declared a dividend of 84 cents per share in the reported quarter [11]

Q4'24 financial & operating results For the period ended December 31, 2024 Sun Life Financial Inc. (unaudited) In this presentation, Sun Life Financial Inc. ("SLF" or "SLF Inc."), its subsidiaries and, where applicable, its joint ventures and associates are collectively referred to as "we", "us", "our", "Sun Life" and the "Company". Reported net income (loss) refers to Common shareholders' net income (loss) determined in accordance with IFRS. Forward-looking statements Certain statements in this presentatio ...

Sun Life (SLF) came out with quarterly earnings of $1.20 per share, missing the Zacks Consensus Estimate of $1.24 per share. This compares to earnings of $1.23 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -3.23%. A quarter ago, it was expected that this financial services company would post earnings of $1.25 per share when it actually produced earnings of $1.29, delivering a surprise of 3.20%.Over the last four quarters, th ...

Sun Life Reports Fourth Quarter and Full Year 2024 Results The information in this document is based on the unaudited interim financial results of Sun Life Financial Inc. ("SLF Inc.") for the period ended December 31, 2024. SLF Inc., its subsidiaries and, where applicable, its joint ventures and associates are collectively referred to as "the Company", "Sun Life", "we", "our", and "us". We manage our operations and report our financial results in five business segments: Asset Management, Canada, United Stat ...

TORONTO, Feb. 12, 2025 /PRNewswire/ - The Board of Directors (the "Board") of Sun Life Financial Inc. (the "Company") (TSX: SLF) (NYSE: SLF) today announced that a dividend of $0.84 per share on the common shares of the Company has been declared, payable March 31, 2025 to shareholders of record at the close of business on February 26, 2025. This is the same amount as paid in the previous quarter. The Board also announced that the following dividends have been declared on the Company's Class A Non-Cumulative ...

Core Insights - Sun Life Financial Inc. reported strong underlying net income growth in Asia and Canada, with increases of 17% and 6% respectively compared to the previous year [3] - The company experienced a 20% increase in Individual Protection sales and an 18% rise in new business Contractual Service Margin (CSM) [3] - Despite strong performance in certain segments, reported net income was impacted by market conditions and an impairment in the Vietnam business [4] Financial Performance - Underlying net income for Q4 2024 was $965 million, a decrease of 2% from Q4 2023, while full-year underlying net income increased by 3% to $3,856 million [9][53] - Reported net income for Q4 2024 was $237 million, down 68% from the previous year, with a full-year reported net income of $3,049 million, a decrease of 1% [9][53] - Underlying Return on Equity (ROE) was 16.5% for Q4 2024, down from 18.4% in Q4 2023, while reported ROE was 4.0% compared to 14.0% in the prior year [9][53] Business Segment Highlights - **Asset Management**: Underlying net income increased by 9% to $360 million, with reported net income rising by 10% to $326 million [12] - **Canada**: Underlying net income rose by 5% to $366 million, while reported net income decreased by 27% to $253 million due to market-related impacts [19] - **U.S.**: Underlying net income decreased by 39% to $115 million, with a reported net loss of $1 million compared to a net income of $77 million in the prior year [22] - **Asia**: Underlying net income increased by 22% to $175 million, but reported net income fell by 75% to $11 million due to an impairment charge [26] Growth Metrics - Total assets under management (AUM) reached $1.542 trillion, an increase of 10% or $142 billion from December 31, 2023 [9][71] - Wealth sales and asset management gross flows for Q4 2024 were $60.999 billion, a 33% increase year-over-year [66] - Group Health & Protection sales decreased by 13% from the previous year, while individual protection sales increased by 5% [67][68] Financial Strength - The Life Insurance Capital Adequacy Test (LICAT) ratio for Sun Life Financial Inc. was 152% at the end of Q4 2024, up from 149% in the previous year [5][11] - The financial leverage ratio was reported at 20.1%, a decrease from 21.5% in Q4 2023 [5][11] Strategic Initiatives - Sun Life launched various health solutions, including the Lumino Health Pharmacy App, which saw a 40% increase in registered users [20] - The company also expanded its capabilities in the U.S. with the Clinical 360+ program, enhancing member access to healthcare services [24]

WELLESLEY, Mass., Feb. 10, 2025 /PRNewswire/ -- Sun Life U.S. has expanded its Family Leave Insurance (FLI) offering to Georgia, Louisiana, Mississippi and South Carolina, with more states on the way. Sun Life currently offers FLI in Alabama, Arkansas, Florida, Kentucky, Oklahoma, Tennessee and Texas. The fully insured offering broadens workers' access to paid leave, giving more employers the option to easily provide a valuable benefit to their employees. Sun Life has long been an advocate for paid leave, w ...

The market expects Sun Life (SLF) to deliver a year-over-year increase in earnings on lower revenues when it reports results for the quarter ended December 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on ...

TORONTO, Jan. 29, 2025 /PRNewswire/ - Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) will release its fourth quarter financial results on Wednesday, February 12, 2025 after markets close. A live webcast of the quarterly results will be available the following day – February 13, 2025 at 10:00 a.m. ET Date:     Thursday, February 13, 2025Time:    10:00 a.m. ET Access the call and presentation via live webcast.Access the call via telephone. The webcast replay will be available after the event. About Sun Life S ...