Sun Life Financial(US:SLF)2024-08-13 20:33Financial Performance - Underlying net income reached $1,000 million, a 9% increase compared to Q2'23[9] - Reported net income was $646 million, a 2% decrease compared to Q2'23[9] - New business CSM increased significantly by 62% to $437 million compared to Q2'23[9] - Total CSM increased by 11% to $12.5 billion[10] - Individual sales increased by 25% year-over-year to $753 million, while Group sales decreased by 18% to $494 million[10] Financial Strength - SLF Inc's LICAT ratio stood at 150%, a 2 percentage point increase from Q1'24[10, 18] - The financial leverage ratio was 22.6%[10] - Net wealth sales & AM net flows was $(19.7) billion, a (466)% change[10] Business Segment Results - Wealth & asset management underlying net income increased by 9% to $455 million[17] - Group - Health & Protection underlying net income decreased by 15% to $305 million[17] - Individual - Protection underlying net income increased by 31% to $347 million[17] - MFS Investment Management reported total net outflows of $(14.8) billion[30] - SLC Management's fee-related earnings increased by 5% to $65 million[31] - Canada's underlying net income increased by 8% to $402 million[34] - U.S. Group - Health & Protection earnings decreased by 25% to $112 million[36] - Asia's underlying net income increased by 19% to $179 million[43]