Core Viewpoint - Sun Life Financial Inc. has declared dividends for both common and preferred shares, maintaining the same dividend amount as the previous quarter, indicating stability in its financial performance [1]. Dividend Declaration - A dividend of $0.92 per common share has been declared, payable on March 31, 2026, to shareholders of record as of February 25, 2026, which is unchanged from the previous quarter [1]. - Dividends for Class A Non-Cumulative Preferred Shares include: - Series 3: $0.278125 per share - Series 4: $0.278125 per share - Series 5: $0.281250 per share - Series 8R: $0.264375 per share - Series 9QR: $0.223644 per share - Series 10R: $0.185438 per share - Series 11QR: $0.270493 per share All preferred share dividends are also payable on March 31, 2026, to shareholders of record as of February 25, 2026 [1]. Company Overview - Sun Life Financial Inc. is a leading international financial services organization that provides asset management, wealth, insurance, and health solutions to both individual and institutional clients [1]. - The company operates in various global markets, including Canada, the U.S., the U.K., Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia, and Bermuda [1]. - As of December 31, 2025, Sun Life had total assets under management amounting to $1.60 trillion [1].

Core Viewpoint - Manulife Financial Corporation intends to launch a Normal Course Issuer Bid (NCIB) to purchase up to 42 million common shares, approximately 2.5% of its outstanding shares, as part of its capital management strategy to enhance shareholder value [1]. Group 1: NCIB Details - The NCIB is subject to approval from the Toronto Stock Exchange (TSX) and has already received approval from the Office of the Superintendent of Financial Institutions (Canada) [1]. - As of January 31, 2026, Manulife had 1,676,743,043 common shares issued and outstanding [1]. - The bid period will commence after TSX acceptance and will last for up to one year, with all shares acquired under the NCIB to be cancelled [1]. Group 2: Purchase Mechanisms - Purchases may occur through TSX, New York Stock Exchange, and alternative trading systems at market prices or other permitted prices [1]. - Manulife may also acquire shares outside Canada and the U.S. and enter into derivative-based programs to support its purchase activities, subject to regulatory approval [1]. - The total number of shares purchased under the NCIB and other arrangements will not exceed 42 million [1]. Group 3: Previous NCIB Performance - Manulife's previous NCIB (2025 NCIB) commenced on February 24, 2025, allowing for the purchase of up to 51.5 million common shares, which was completed by January 22, 2026, at an average purchase price of $44.28 per share [1].

Core Insights - Sun Life Financial Inc. reported strong financial results for Q4 and full year 2025, with underlying net income reaching $1,094 million, a 13% increase from Q4 2024, and a full year increase of 9% to $4,201 million [1][2][6] - The company achieved an underlying EPS of $1.96 for Q4 2025, up 17% year-over-year, and $7.45 for the full year, reflecting a 12% increase [1][2][6] - The underlying return on equity (ROE) was 19.1% for Q4 and 18.2% for the full year, indicating strong profitability [1][2][6] Financial Performance - Reported net income for Q4 2025 was $722 million, a significant increase of 205% from the previous year, driven by favorable market conditions and improved operational performance [2][6] - The company’s total assets under management (AUM) reached $1,605 billion, a 4% increase from the previous year [1][2][6] - The Life Insurance Capital Adequacy Test (LICAT) ratio stood at 157%, reflecting strong financial stability [1][2][6] Business Segment Highlights Asset Management - Underlying net income from Asset Management was $370 million, a 3% increase year-over-year, with gross flows decreasing by 7% to $59,861 million [2][3][6] - MFS experienced net inflows of US$5.5 billion in fixed income, while SLC Management faced net outflows of $19.5 billion [2][3][6] Canada - Canada segment reported underlying net income of $417 million, a 14% increase, driven by favorable insurance experience and growth in asset management [3][4][6] - Individual Protection sales decreased by 6%, while Group Health & Protection sales increased by 8% [3][4][6] U.S. - U.S. underlying net income rose to US$150 million, a 30% increase, supported by improved medical stop-loss morbidity experience [3][4][6] - Group sales in the U.S. increased by 45%, primarily due to strong performance in medical stop-loss and large case employee benefits [3][4][6] Asia - Asia segment's underlying net income increased by 18% to $207 million, driven by strong sales momentum and favorable mortality experience [3][4][6] - Individual sales in Asia rose by 49%, with significant contributions from India and Indonesia [3][4][6] Strategic Developments - Sun Life is restructuring its asset management operations to enhance growth across its insurance and wealth businesses, effective January 1, 2026 [3][4][6] - The company has launched initiatives to improve client experience, including enhanced digital capabilities and automated claims processes [3][4][6]

Core Viewpoint - Humana Inc. shares declined over 2% after issuing 2026 earnings guidance that fell short of analyst expectations, despite reporting better-than-expected fourth-quarter results [1][2] Financial Performance - For Q4 2025, Humana reported an adjusted net loss of $3.96 per share, slightly better than the expected loss of $4.00 per share. Revenue reached $32.52 billion, surpassing the consensus estimate of $32.04 billion [1] - For the full year 2025, adjusted earnings were $17.14 per share, an increase from $16.21 in 2024. The Insurance segment had a GAAP benefit ratio of 90.4%, slightly better than the guidance range of 90.1% to 90.5% [3] Earnings Guidance - Humana's 2026 adjusted earnings guidance is projected at a minimum of $9.00 per share, significantly below analyst expectations of $12.00. The company cited a decline primarily due to a Star Ratings headwind for Bonus Year 2026, net of mitigation efforts [2] Membership Growth - Despite the lower earnings outlook, Humana anticipates approximately 25% growth in individual Medicare Advantage membership in 2026, driven by new enrollments and improved retention [4] - The company also reported a 25% increase in Senior Primary Care patients within its CenterWell platform during 2025 [4]

Core Insights - The 2026 Market Trends report by Brown & Brown indicates a shift in rate conditions favoring buyers who are well-prepared for the renewal process and have a positive claims history [1][2] - The report is the first since the acquisition of Risk Strategies, combining insights from both organizations to provide a comprehensive view of the insurance market [2][3] Group 1: Commercial Insurance - Increased competition among carriers is creating opportunities for businesses with strong risk management practices [3] - Large-scale loss events, such as wildfires and cyber incidents, continue to pose challenges [3] - Industries like transportation and hospitality, particularly in risk-prone areas, face unfavorable market dynamics in securing effective coverage [3] Group 2: Employee Benefits - There is a focus on controlling rising costs while maintaining benefit quality, leading to increased use of digital health tools [4] - Companies are balancing cost management with the need to attract and retain talented employees [4] Group 3: Personal Insurance - Climate volatility and regulatory changes necessitate stronger preparation and risk management [5] - While capacity is expanding in some areas, regions exposed to catastrophes face tighter requirements and sustained pricing pressure [5] Group 4: Overall Market Perspective - The Market Trends report provides valuable insights for businesses and employers navigating the complexities of today's insurance markets [6] - Brown & Brown leverages its extensive experience and global reach to offer enhanced knowledge and solutions [6]

Core Viewpoint - CNO Financial Group has declared a quarterly cash dividend of $0.17 per share and announced the date for its virtual annual meeting, alongside the retirement of a long-serving board member [1]. Dividend Announcement - The Board of Directors declared a quarterly cash dividend of $0.17 per share on common shares, payable on March 24, 2026, to shareholders of record as of March 10, 2026 [1]. Annual Meeting Details - The annual meeting of shareholders will be held virtually on May 12, 2026, at 8:00 a.m. ET, with participation available for holders of record as of March 16, 2026 [1]. Board Member Retirement - Nina Henderson will retire from the Board of Directors at the end of her current term, which concludes with the annual meeting. She has served on the Board since 2012 and has been a key figure in various committees [1]. Company Overview - CNO Financial Group, Inc. provides life and health insurance, annuities, and financial services, managing 3.2 million policies and holding total assets of $38.8 billion [1].

Core Insights - Palomar Holdings, Inc. reported a significant increase in net income for Q4 2025, reaching $56.2 million, or $2.06 per diluted share, compared to $35.0 million, or $1.29 per diluted share, in Q4 2024, marking a 60.6% increase in net income year-over-year [1][7] - The company achieved an adjusted net income of $61.1 million, or $2.24 per diluted share, for Q4 2025, up from $41.3 million, or $1.52 per diluted share, in Q4 2024, reflecting a 48.0% increase [1][7] - Gross written premiums grew by 31.8% to $492.6 million in Q4 2025, compared to $373.7 million in Q4 2024, while net earned premiums increased by 61.1% [5][7] Fourth Quarter 2025 Highlights - The company reported a record adjusted net income and strong growth in both top and bottom lines, with gross written premiums increasing by 32% and adjusted net income rising by 48% [4] - The adjusted combined ratio for Q4 2025 was 73.4%, compared to 71.7% in Q4 2024, indicating effective underwriting performance [8][7] - The annualized return on equity for Q4 2025 was 24.7%, up from 19.5% in the same period last year [11][7] Full Year 2025 Highlights - For the full year 2025, gross written premiums reached $2.0 billion, a 31.5% increase from $1.5 billion in 2024 [7][34] - Net income for the full year was $197.1 million, a 67.6% increase from $117.6 million in 2024, while adjusted net income rose by 61.9% to $216.1 million [7][34] - The total loss ratio for 2025 was 28.5%, compared to 26.4% in 2024, indicating a slight increase in losses relative to earned premiums [7][34] Underwriting Results - Underwriting income for Q4 2025 was $54.4 million, resulting in a combined ratio of 76.8%, compared to a combined ratio of 75.9% in Q4 2024 [8][7] - The company experienced a loss ratio of 30.4% in Q4 2025, up from 25.7% in Q4 2024, with a catastrophe loss ratio of -0.9% compared to 5.6% in the previous year [6][7] Investment Results - Net investment income increased by 41.3% to $16.0 million in Q4 2025, driven by higher yields on invested assets [9][7] - The company recorded net realized and unrealized gains of $2.4 million in Q4 2025, contrasting with losses of $1.2 million in the same period last year [9][7] Stockholders' Equity and Returns - Stockholders' equity rose to $942.7 million at the end of 2025, compared to $729.0 million at the end of 2024 [11][7] - The company did not repurchase any shares during the quarter, with approximately $112.7 million remaining available for future repurchases under the existing authorization [11][7] Full Year 2026 Outlook - For the full year 2026, the company anticipates achieving adjusted net income between $260 million and $275 million, including an estimate of $8 million to $12 million in catastrophe losses [12][7]

Core Viewpoint - Shanghai aims to enhance its international financial center competitiveness and influence through high-level financial openness and alignment with international trade rules, as outlined in the 15th Five-Year Plan [1][2]. Group 1: Development Goals - By 2030, Shanghai's "five centers" will see significant improvements in global resource allocation, technological innovation, high-end industry leadership, open hub influence, and cultural soft power [1]. - By 2035, the functions of Shanghai's "five centers" will be fully upgraded, with key development indicators reaching international leading levels, and per capita GDP expected to double compared to 2020 [2]. Group 2: Financial Sector Initiatives - The focus will be on enhancing the internationalization of financial markets, improving mechanisms like "Shanghai-Hong Kong Stock Connect" and "Bond Connect," and increasing the international influence of "Shanghai prices" [2][3]. - There will be efforts to attract high-capacity foreign financial institutions and international financial organizations to establish regional headquarters and branches in Shanghai [3]. - The facilitation of investment and cross-border settlement will be deepened, supporting financial institutions in expanding global service networks and optimizing currency management [3]. - Exploration of offshore financial services will be initiated, including the establishment of offshore financial regulatory frameworks and the development of offshore debt business [3].

Core Insights - American International Group, Inc. (AIG) reported fourth-quarter 2025 adjusted earnings per share of $1.96, exceeding the Zacks Consensus Estimate by 3.5% and reflecting a 51% year-over-year increase [1][9] - Adjusted operating revenues rose 1.5% year over year to $6.9 billion, although this figure fell short of consensus estimates by 2.2% [1][4] Financial Performance - The quarterly results were bolstered by improved underwriting results in the North America Commercial and Global Personal segments, but were partially offset by weaker premiums in the Global Personal segment and lower investment income [2][4] - Net premiums written totaled $6 billion, representing a 1% decline year over year, with growth in Global Commercial countered by a decline in Global Personal [3][11] - Total net investment income decreased by 34% year over year to $872 million, missing consensus estimates by 12.9%, primarily due to lower fair value gains and reduced income from Corebridge [4][12] Underwriting and Segment Performance - General Insurance underwriting income increased to $670 million, a 48% rise year over year, surpassing the Zacks Consensus Estimate by 11.1% [5][9] - The combined ratio for General Insurance improved by 370 basis points to 88.8, indicating stronger underwriting performance compared to the prior-year quarter [5][10] - In the North America Commercial segment, net premiums written rose 3% year over year to $2.3 billion, driven by growth in Programs and Excess Casualty [6][7] - The International Commercial segment reported net premiums written of $2.2 billion, up 5% year over year, supported by growth in Global Specialty and Casualty lines [8] Financial Position and Capital Deployment - AIG ended Q4 2025 with a cash balance of $1.27 billion and total assets of $161.25 billion, slightly down from the previous year [13] - Long-term debt increased to $9 billion, while total shareholders' equity declined to $41.1 billion [13] - The company returned approximately $567 million to shareholders through share repurchases and $242 million in dividends during the fourth quarter [15] Full-Year 2025 Overview - For the full year 2025, AIG reported total revenues of $26.8 billion, a 1.8% decline from 2024, but adjusted earnings increased by 43.2% year over year to $7.09 per share [16] - The combined ratio improved by 170 basis points to 90.1, driven by higher underwriting income and stronger net investment income within the general insurance segment [16]

Core Insights - Sun Life U.S. has been recognized as a Top Place to Work in Kansas City by the Kansas City Business Journal and Kansas City Star, highlighting its status as an employer of choice across multiple cities [1][1][1] Company Recognition - The recognitions are based on employee programs, engagement, culture, benefits, social responsibility, and career development [1][1] - Sun Life has received consecutive awards in cities such as Boston, Hartford, Baltimore, and Milwaukee, establishing a strong reputation nationally [1][1] Employee Engagement and Culture - The company boasts a near 95% employee retention rate, attributed to its caring and purpose-driven culture [1][1] - Employees are supported in various roles, including disability, life, dental, and technology services [1][1] Work Environment - Sun Life offers a flexible, hybrid work model, allowing employees to choose their workdays in the office, promoting better work/life balance [1][1] - The company provides a range of meaningful benefits, including generous paid family and medical leave, mental health support, and a sabbatical program available every five years [1][1] Company Operations - Sun Life U.S. operates in six cities across the U.S. and has a significant presence in the international market, with total assets under management of C$1.62 trillion as of September 30, 2025 [1][1] - The company serves approximately 50 million Americans through a diverse portfolio of employee and government benefits [1][1]