Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.Zacks Premium includes access to the Zacks Style Scores as well. What are the Zacks Style Scores? The Z ...

Albert Anthony is a Croatian-American media personality and Analyst for financial media platforms Investing.com and Seeking Alpha, where he has grown over +1K followers since 2023. Writing general markets commentary and opinion as The Analyst, he has covered over +200 companies in multiple sectors, with a focus on dividend stocks. The author grew up in the NYC area and has also called home Austin Texas and his parents' native Croatia, where he took part in many business/innovation conferences as a business ...

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.It also includes access to the Zacks Style Scores. What are the Zacks Style Scores? The Zacks Style ...

Core Points - Sun Life Financial Inc. announced the election of 12 nominees as directors during its annual meeting of common shareholders [1] - The voting results showed high approval rates for the nominees, with most receiving over 99% of votes in favor [2] - As of March 31, 2025, Sun Life had total assets under management of $1.55 trillion [3] Voting Results Summary - Deepak Chopra received 304,216,875 votes for (99.5%) and 1,613,731 votes withheld (0.5%) [2] - Stephanie L. Coyles received 300,374,417 votes for (98.2%) and 5,456,189 votes withheld (1.8%) [2] - Patrick P.F. Cronin received 305,012,363 votes for (99.7%) and 818,243 votes withheld (0.3%) [2] - Ashok K. Gupta received 304,824,776 votes for (99.7%) and 1,005,830 votes withheld (0.3%) [2] - David H. Y. Ho received 304,191,594 votes for (99.5%) and 1,639,012 votes withheld (0.5%) [2] - Laurie G. Hylton received 303,848,100 votes for (99.4%) and 1,982,506 votes withheld (0.6%) [2] - Stacey A. Madge received 304,451,936 votes for (99.5%) and 1,378,670 votes withheld (0.5%) [2] - Helen M. Mallovy Hicks received 297,600,009 votes for (97.3%) and 8,230,597 votes withheld (2.7%) [2] - Marie-Lucie Morin received 304,911,079 votes for (99.7%) and 919,527 votes withheld (0.3%) [2] - Joseph M. Natale received 304,444,433 votes for (99.5%) and 1,386,173 votes withheld (0.5%) [2] - Scott F. Powers received 300,283,090 votes for (98.2%) and 5,547,516 votes withheld (1.8%) [2] - Kevin D. Strain received 305,101,316 votes for (99.8%) and 729,290 votes withheld (0.2%) [2] Company Overview - Sun Life is a leading international financial services organization providing asset management, wealth, insurance, and health solutions [3] - The company operates in various markets worldwide, including Canada, the U.S., the U.K., and several Asian countries [3] - Sun Life trades on the Toronto, New York, and Philippine stock exchanges under the ticker symbol SLF [4]

Sun Life Financial Inc. (SLF) delivered first-quarter 2025 underlying net income of $1.27 per share, which missed the Zacks Consensus Estimate by 4%. However, the bottom line increased 14.4% year over year. Underlying net income was $727 million (C$1 billion), which increased 13% year over year, given by solid results in asset management & wealth, group-health & protection, individual-protection, corporate expenses and other.Revenues of $7.9 billion increased 55% year over year and beat the Zacks Consensus ...

Sun Life (SLF) came out with quarterly earnings of $1.27 per share, beating the Zacks Consensus Estimate of $1.22 per share. This compares to earnings of $1.11 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 4.10%. A quarter ago, it was expected that this financial services company would post earnings of $1.24 per share when it actually produced earnings of $1.20, delivering a surprise of -3.23%.Over the last four quarters, th ...

[First Quarter 2025 Financial and Operational Highlights](index=3&type=section&id=Sun%20Life%20Reports%20First%20Quarter%202025%20Results) [Overall Performance Summary](index=3&type=section&id=Financial%20and%20Operational%20Highlights) Sun Life reported strong Q1 2025 top and bottom-line growth, with underlying net income increasing 19% to $1,045 million and reported net income rising 13% to $928 million Q1 2025 Key Financial Metrics vs. Q1 2024 | Metric | Q1'25 | Q1'24 | Change | | :--- | :--- | :--- | :--- | | **Profitability** | | | | | Underlying net income ($M) | 1,045 | 875 | +19% | | Reported net income ($M) | 928 | 818 | +13% | | Underlying EPS ($) | 1.82 | 1.50 | +21.3% | | Reported EPS ($) | 1.62 | 1.40 | +15.7% | | Underlying ROE | 17.7% | 16.0% | +1.7 p.p. | | **Growth** | | | | | AUM ($B) | 1,551 | 1,470 | +6% | | Asset management gross flows & wealth sales ($M) | 62,221 | 46,898 | +33% | | **Financial Strength** | | | | | SLF Inc. LICAT ratio | 149% | 148% | +1 p.p. | - The company announced a **5% increase** in its common share dividend, raising it from $0.84 to $0.88 per share[6](index=6&type=chunk)[10](index=10&type=chunk) - Sun Life is seeking to renew its normal course issuer bid (NCIB) to continue its share buyback program, reflecting confidence in its financial position[6](index=6&type=chunk) [Business Group Performance Highlights](index=5&type=section&id=Business%20Group%20Highlights) All business groups contributed to strong Q1 2025 results, with Asset Management underlying net income up 24%, Canada up 21%, U.S. up 15%, and Asia up 11% Q1 2025 Underlying Net Income by Business Group (vs. Q1 2024) | Business Group | Q1'25 Underlying Net Income ($M) | YoY Change | Key Drivers | | :--- | :--- | :--- | :--- | | Asset Management | 351 | +24% | Higher fee-related earnings and strong performance in SLC Management. | | Canada | 376 | +21% | Business growth and favourable protection experience. | | U.S. | 218 | +15% | Higher Dental results and improved credit experience. | | Asia | 197 | +11% | Good sales momentum, in-force business growth, and higher JV contributions. | | Corporate | (97) | (17)% | Lower investment income from surplus assets. | - Asset Management experienced net outflows of **$8.7 billion**, primarily from MFS retail outflows, but this was partially offset by strong capital raising and net inflows of **$2.9 billion** at SLC Management[17](index=17&type=chunk) - Asia's individual sales increased by **17%**, driven by strong performance in India, Hong Kong, and China. New business CSM in Asia grew to **$273 million** from **$230 million** in the prior year[33](index=33&type=chunk)[37](index=37&type=chunk) [Management's Discussion and Analysis (MD&A)](index=8&type=section&id=Management%27s%20Discussion%20and%20Analysis) [Financial Summary](index=11&type=section&id=B.%20Financial%20Summary) Sun Life's Q1 2025 financial summary shows underlying net income increasing to $1,045 million, total AUM growing to $1,550.9 billion, and a solid SLF Inc. LICAT ratio of 149% Quarterly Financial Summary | Metric | Q1'25 | Q4'24 | Q1'24 | | :--- | :--- | :--- | :--- | | **Profitability** | | | | | Underlying net income ($M) | 1,045 | 965 | 875 | | Reported net income ($M) | 928 | 237 | 818 | | Underlying EPS ($) | 1.82 | 1.68 | 1.50 | | Underlying ROE (%) | 17.7% | 16.5% | 16.0% | | **Growth** | | | | | Total AUM ($B) | 1,550.9 | 1,542.3 | 1,470.1 | | New business CSM ($M) | 406 | 306 | 347 | | **Financial Strength** | | | | | SLF Inc. LICAT ratio (%) | 149% | 152% | 148% | | Financial leverage ratio (%) | 20.1% | 20.1% | 21.1% | [Profitability Analysis](index=12&type=section&id=C.%20Profitability) Q1 2025 underlying net income increased 19% to $1,045 million, driven by broad-based growth across all business types, while reported net income rose 13% to $928 million - The increase in underlying net income was primarily driven by higher fee-related earnings in SLC Management, business growth and favorable protection experience in Canada, and growth in Asia[57](index=57&type=chunk)[58](index=58&type=chunk) - Reported net income was positively impacted by improved real estate experience and favorable interest rate movements, but partially offset by unfavorable equity market impacts and prior year gains from the partial sale of ABSLAMC[59](index=59&type=chunk)[65](index=65&type=chunk) - Notable experience items in the quarter included favorable morbidity experience in Canada and unfavorable expense experience in the U.S. and Canada[66](index=66&type=chunk) [Growth Metrics](index=14&type=section&id=D.%20Growth) Sun Life demonstrated strong Q1 2025 growth, with total asset management gross flows and wealth sales up 33% to $62.2 billion, contributing to a 17% increase in new business CSM and a 6% rise in total AUM to $1.55 trillion Q1 2025 Sales Performance (vs. Q1 2024) | Sales Category | Q1'25 ($M) | Q1'24 ($M) | YoY Change | | :--- | :--- | :--- | :--- | | Asset management gross flows & wealth sales | 62,221 | 46,898 | +33% | | Group - Health & Protection sales | 580 | 528 | +10% | | Individual - Protection sales | 874 | 757 | +15% | | New business CSM | 406 | 347 | +17% | - AUM increased by **$8.5 billion** from Q4 2024, driven by favorable market movements (**$9.2B**) and foreign exchange (**$2.5B**), partially offset by net outflows from segregated funds and third-party AUM (**$6.4B**)[71](index=71&type=chunk)[73](index=73&type=chunk) - The **$6.4 billion** in net outflows was primarily due to MFS net outflows of **$11.6 billion**, which were partially mitigated by SLC Management net inflows of **$2.9 billion** and Canada/Asia inflows of **$2.3 billion**[72](index=72&type=chunk) [Contractual Service Margin (CSM)](index=16&type=section&id=E.%20Contractual%20Service%20Margin) The Contractual Service Margin (CSM) increased by $0.3 billion (2%) to $13.6 billion in Q1 2025, primarily driven by $406 million from new insurance business reflecting strong sales in Asia and Canada Q1 2025 CSM Movement ($ millions) | Component | Amount | | :--- | :--- | | Beginning of Period | 13,366 | | Impact of new insurance business | 406 | | Expected movements | 191 | | Insurance experience gains/losses | 20 | | CSM recognized for services provided | (303) | | **Organic CSM Movement** | **314** | | Impact of markets & other | (74) | | Impact of change in assumptions | (6) | | Currency impact | 19 | | **Total CSM Movement** | **253** | | **End of Period** | **13,619** | [Financial Strength](index=17&type=section&id=F.%20Financial%20Strength) Sun Life maintained a strong Q1 2025 financial position with a 149% SLF Inc. LICAT ratio and stable 20.1% financial leverage, supported by $308 million in organic capital generation and $1.3 billion in liquid assets Key Financial Strength Indicators (Q1'25) | Indicator | Q1'25 | Q4'24 | | :--- | :--- | :--- | | SLF Inc. LICAT ratio | 149% | 152% | | Sun Life Assurance LICAT ratio | 141% | 146% | | Total capital ($B) | 46.0 | 45.9 | | Financial leverage ratio | 20.1% | 20.1% | | Underlying dividend payout ratio | 46% | 50% | - During Q1 2025, the company repurchased and cancelled **6.4 million** common shares for a total of **$520 million** under its Normal Course Issuer Bid (NCIB)[84](index=84&type=chunk) - Subsequent to the quarter end, on May 8, 2025, SLF Inc. announced its intention to renew its NCIB, planning to purchase up to an additional **10 million** common shares after completing the current program[85](index=85&type=chunk) [Performance by Business Segment](index=19&type=section&id=G.%20Performance%20by%20Business%20Segment) This section details the performance of Sun Life's five business segments, highlighting strong underlying income growth in Asset Management (+24%), Canada (+21%), U.S. (+15%), and Asia (+11%), while Corporate reported a higher net loss [Asset Management](index=21&type=section&id=1.%20Asset%20Management) Asset Management's underlying net income increased 24% to $351 million, driven by higher fee-related earnings at SLC Management and favorable foreign exchange impacts at MFS, despite MFS net outflows Asset Management Financials (Q1'25 vs Q1'24) | Metric | Q1'25 | Q1'24 | Change | | :--- | :--- | :--- | :--- | | Underlying net income (C$M) | 351 | 282 | +24% | | Reported net income (C$M) | 326 | 284 | +15% | | AUM (C$B) | 1,123.7 | 1,078.6 | +4.2% | | Net flows (C$B) | (8.7) | (10.1) | N/A | - MFS's underlying net income was down $3 million on a U.S. dollar basis, as higher fee income was offset by lower net investment income. Its pre-tax net operating profit margin was **35.4%**, down from **37.2%** in the prior year[95](index=95&type=chunk) - SLC Management's underlying net income grew significantly by **$57 million**, with fee-related earnings up **43%** driven by higher catch-up fees from strong capital raising[95](index=95&type=chunk) [Canada](index=23&type=section&id=2.%20Canada) The Canada segment delivered a strong quarter with underlying net income increasing 21% to $376 million, driven by broad-based growth in Group Health & Protection and Individual Protection, alongside robust sales performance Canada Financials (Q1'25 vs Q1'24) | Metric | Q1'25 ($M) | Q1'24 ($M) | Change | | :--- | :--- | :--- | :--- | | Underlying net income | 376 | 310 | +21% | | Reported net income | 351 | 290 | +21% | | Asset management & wealth sales | 6,527 | 4,079 | +60% | | Group - Health & Protection sales | 375 | 311 | +21% | | Individual - Protection sales | 139 | 130 | +7% | - The increase in underlying net income was driven by favorable protection experience, including shorter claims durations in morbidity and lower claims severity in mortality[99](index=99&type=chunk) [U.S.](index=24&type=section&id=3.%20U.S.) The U.S. segment reported a 7% increase in underlying net income to US$151 million, driven by higher Dental results and improved investment income, despite a 13% decline in group sales U.S. Financials in USD (Q1'25 vs Q1'24) | Metric | Q1'25 (US$M) | Q1'24 (US$M) | Change | | :--- | :--- | :--- | :--- | | Underlying net income | 151 | 141 | +7% | | Reported net income | 129 | 71 | +82% | | Group - Health & Protection sales | 123 | 142 | -13% | - Reported net income saw a significant **82%** increase, largely due to favorable market-related impacts from improved real estate experience and interest rates[101](index=101&type=chunk) - Higher Dental results were a key driver, reflecting the impact of Medicaid repricing and prior year impacts following the end of the Public Health Emergency[104](index=104&type=chunk) [Asia](index=25&type=section&id=4.%20Asia) The Asia segment's underlying net income grew 11% to $197 million, fueled by strong sales momentum, in-force business growth, and higher joint venture contributions, despite a reported net income decrease due to prior year gains Asia Financials (Q1'25 vs Q1'24) | Metric | Q1'25 ($M) | Q1'24 ($M) | Change | | :--- | :--- | :--- | :--- | | Underlying net income | 197 | 177 | +11% | | Reported net income | 166 | 235 | -29% | | Individual - Protection sales | 735 | 627 | +17% | | New business CSM | 273 | 230 | +19% | - Individual sales growth was driven by higher sales in India (bancassurance, direct-to-consumer), Hong Kong (agency, bancassurance), and China (bancassurance)[110](index=110&type=chunk) [Corporate](index=26&type=section&id=5.%20Corporate) The Corporate segment reported an increased underlying net loss of $97 million, primarily due to lower investment income from surplus assets, with a reported net loss of $101 million - The underlying net loss increased to **$97 million** from **$83 million** in Q1'24, mainly reflecting lower investment income from surplus assets[112](index=112&type=chunk) - The reported net loss of **$101 million** was wider than the prior year's **$88 million**, consistent with the decline in underlying results[113](index=113&type=chunk) [Investments](index=27&type=section&id=H.%20Investments) Total general fund invested assets reached $191.0 billion as of March 31, 2025, maintaining a well-diversified and high-quality portfolio with 76% of debt securities rated 'A' or higher General Fund Invested Assets as of March 31, 2025 | Asset Class | Carrying Value ($M) | % of Total | | :--- | :--- | :--- | | Debt securities | 84,630 | 44% | | Mortgages and loans | 58,749 | 31% | | Cash, cash equivalents and short-term securities | 11,506 | 6% | | Equity securities | 9,656 | 5% | | Investment properties | 9,335 | 5% | | Other invested assets | 15,330 | 8% | | **Total Invested Assets** | **191,045** | **100%** | - The debt securities portfolio remains high quality, with **76%** rated 'A' or higher and **99%** rated 'BBB' or higher[120](index=120&type=chunk) - The commercial mortgage portfolio of **$14.6 billion** has no single-family residential exposure. The uninsured portion has a weighted average loan-to-value of **54%** and debt service coverage of **1.77 times**[125](index=125&type=chunk) [Risk Management](index=30&type=section&id=I.%20Risk%20Management) This section details Sun Life's market risk exposures and management, providing sensitivity analyses on the estimated immediate impact of various market shocks on net income, CSM, OCI, and the LICAT ratio Market Risk Sensitivities as of March 31, 2025 | Scenario | Impact on Net Income ($M) | Impact on LICAT Ratio | | :--- | :--- | :--- | | 10% decrease in Equity Markets | (225) | -0.5% points | | 10% increase in Equity Markets | 225 | +0.5% points | | 50 bps decrease in Interest Rates | (25) | +2.5% points | | 50 bps increase in Interest Rates | 0 | -2.5% points | | 50 bps increase in Credit Spreads | (75) | -2.5% points | | 10% decrease in Real Estate Values | (475) | Not provided | - The company's primary exposure to interest rate risk arises from insurance and investment contracts with embedded guarantees. This risk is managed through an asset-liability management program, which may include the use of derivatives[140](index=140&type=chunk) - Foreign currency risk is managed by generally matching the currency profile of assets to liabilities and required capital in each country of operation. Net income earned outside of Canada is generally not currency hedged[147](index=147&type=chunk)[148](index=148&type=chunk) [Non-IFRS Financial Measures](index=37&type=section&id=N.%20Non-IFRS%20Financial%20Measures) This section defines and reconciles key non-IFRS financial measures, such as 'Underlying Net Income', which adjusts reported net income to reflect underlying business performance by removing market-related impacts and other specific items - **Underlying net income** is a key non-IFRS measure that removes market-related impacts, assumption changes and management actions (ACMA), and other adjustments (e.g., acquisition costs, intangible amortization) from reported net income[207](index=207&type=chunk)[209](index=209&type=chunk) Reconciliation of Underlying to Reported Net Income (Q1'25, $M) | Description | Amount | | :--- | :--- | | **Underlying net income** | **1,045** | | Market-related impacts | (22) | | Assumption changes and management actions | (4) | | Other adjustments | (91) | | **Reported net income - Common shareholders** | **928** | - Other important non-IFRS measures discussed include Return on Equity (ROE), Assets Under Management (AUM), Financial Leverage Ratio, and various sales and CSM metrics[214](index=214&type=chunk)[240](index=240&type=chunk)[241](index=241&type=chunk) [Condensed Consolidated Financial Statements](index=50&type=section&id=Condensed%20Consolidated%20Financial%20Statements) [Consolidated Statements of Operations](index=50&type=section&id=Consolidated%20Statements%20of%20Operations) For Q1 2025, Sun Life reported total revenue of $11.35 billion, driven by a positive swing in net investment income, resulting in net income attributable to common shareholders of $928 million or $1.62 per diluted share Q1 2025 Statement of Operations Highlights ($ millions) | Line Item | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Total Insurance Revenue | 6,018 | 5,540 | | Net Investment Income (Loss) | 3,093 | (677) | | Fee Income | 2,240 | 2,012 | | **Total Revenue** | **11,351** | **6,875** | | Income (loss) before income taxes | 1,249 | 1,197 | | **Common shareholders' net income (loss)** | **928** | **818** | | **Diluted EPS ($)** | **1.62** | **1.40** | [Consolidated Statements of Financial Position](index=52&type=section&id=Consolidated%20Statements%20of%20Financial%20Position) As of March 31, 2025, Sun Life's total assets reached $373.0 billion, with total liabilities at $346.9 billion and total equity at $26.0 billion, reflecting a stable financial position Balance Sheet Highlights ($ billions) | Account | March 31, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | Total General Fund Assets | 223.3 | 221.9 | | Total Assets | 373.0 | 370.7 | | Total General Fund Liabilities | 197.3 | 195.8 | | Total Liabilities | 346.9 | 344.6 | | Total Shareholders' Equity | 25.4 | 25.6 | | **Total Equity** | **26.0** | **26.1** | [Consolidated Statements of Cash Flows](index=54&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) In Q1 2025, net cash used in operating activities significantly improved to $382 million, with cash used in financing activities at $1.64 billion, ending the period with $11.5 billion in cash and equivalents Q1 2025 Cash Flow Summary ($ millions) | Activity | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | (382) | (2,487) | | Net cash provided by (used in) investing activities | (80) | 16 | | Net cash provided by (used in) financing activities | (1,642) | (925) | | **Increase (decrease) in cash and cash equivalents** | **(2,085)** | **(3,262)** | | **Net cash, cash equivalents and short-term securities, end of period** | **11,477** | **11,123** |

Core Viewpoint - Sun Life Financial Inc. intends to renew its normal course issuer bid (NCIB) for share repurchases, pending approval from regulatory authorities [1][2]. Group 1: Normal Course Issuer Bid (NCIB) Details - The current NCIB, initiated on August 29, 2024, allows for the repurchase of up to 15,000,000 common shares, with 13,018,997 shares repurchased as of May 7, 2025 [2][5]. - Upon completion of the current NCIB, the company plans to establish a new NCIB (2025 NCIB) to repurchase an additional 10,000,000 common shares, subject to regulatory approvals [2][5]. - The 2025 NCIB will expire 12 months after its commencement or earlier if the company decides [2]. Group 2: Share Repurchase Mechanism - Purchases under the 2025 NCIB may occur through various trading platforms, including the TSX and NYSE, at prevailing market rates [3]. - The company may also engage in private agreements or share repurchase programs under exemption orders, typically at a discount to market prices [3]. - The actual number and timing of shares repurchased will be determined by the company [3]. Group 3: Pre-defined Plans and Compliance - The company may enter into pre-defined plans with brokers to facilitate share repurchases during internal trading blackout periods [4]. - Such plans will comply with applicable Canadian and U.S. securities laws [4]. Group 4: Financial Overview - As of May 7, 2025, the company had repurchased 13,018,997 shares at a weighted average price of approximately $80.79 per share [5]. - The total number of shares that can be repurchased under the 2025 NCIB will be adjusted to account for shares repurchased under the 2024 NCIB, allowing for a total of 25,000,000 shares, which represents about 4.1% of the total shares outstanding as of May 5, 2025 [5]. Group 5: Company Background - Sun Life is a prominent international financial services organization, offering asset management, wealth, insurance, and health solutions [9]. - As of March 31, 2025, the company had total assets under management of $1.55 trillion [9].

Core Points - Sun Life Financial Inc. declared a dividend of $0.88 per share on common shares, representing a $0.04 increase from the previous quarter, payable on June 30, 2025 [1] - The Board also announced dividends for Class A Non-Cumulative Preferred Shares, with varying amounts for different series, all payable on June 30, 2025 [2] - The declared dividends are designated as eligible dividends under the Income Tax Act (Canada) [3] Company Overview - Sun Life is a leading international financial services organization providing asset management, wealth, insurance, and health solutions to individual and institutional clients [4] - As of March 31, 2025, Sun Life had total assets under management of $1.55 trillion [4] - The company operates in multiple markets worldwide, including Canada, the U.S., the U.K., and several Asian countries [4] Trading Information - Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE), and Philippine (PSE) stock exchanges under the ticker symbol SLF [5]

Core Viewpoint - Sun Life Financial Inc. reported strong growth in both top and bottom lines for Q1 2025, driven by robust performance across all business segments and a focus on client needs through digital tools and strategic initiatives [4][6][61]. Financial Performance - Underlying net income for Q1 2025 was $1,045 million, an increase of $170 million or 19% from Q1 2024 [6][11]. - Reported net income for common shareholders was $928 million, up $110 million or 13% year-over-year [6][11]. - Underlying EPS rose to $1.82 from $1.50, while reported EPS increased to $1.62 from $1.40 [5][6]. Business Segment Highlights Asset Management - Underlying net income for Asset Management was $351 million, a 24% increase from the previous year [14]. - Total assets under management (AUM) reached $1,551 billion, up $81 billion or 6% from Q1 2024 [6][11]. - MFS and SLC Management contributed to strong performance, with MFS experiencing net outflows of $11.6 billion, while SLC Management saw inflows of $2.9 billion [18][19]. Canada - Underlying net income in Canada was $376 million, reflecting a 21% increase from the prior year [23]. - Reported net income for Canada was $351 million, also up 21% year-over-year [23]. - Sales in Canada showed growth, with Group - Health & Protection sales increasing by 10% and Individual - Protection sales up by 15% [10][24]. United States - U.S. underlying net income was US$151 million, a 7% increase, while reported net income surged by 82% to US$129 million [27][28]. - Group sales in the U.S. decreased by 13%, primarily due to lower Medicaid sales [28][29]. Asia - Underlying net income in Asia was $197 million, an 11% increase, while reported net income decreased by 29% due to prior year gains [33][34]. - New business Contractual Service Margin (CSM) rose to $273 million, up from $230 million in the prior year [34][35]. Capital Position and Dividends - The LICAT ratio stood at 149%, indicating a strong capital position [4][11]. - The company announced a 5% increase in its common share dividend, raising it from $0.84 to $0.88 per share [4][6]. Strategic Initiatives - Sun Life continues to enhance its Client Impact Strategy through digital tools and capabilities, aiming to improve client experiences and operational efficiency [4][29]. - The company is focused on expanding its distribution in fast-growing markets, particularly in Asia, through partnerships and innovative product offerings [35][36].