Sun Life Financial Inc

Latest Results (17.12.2024):

Net Income Growth

Sun Life Financial Inc. reported a significant increase in its net income for the third quarter of 2024. The underlying net income reached $1,016 million, marking an increase of $86 million or 9% compared to the same quarter in 2023. This growth was driven by strong performances across various business segments, including wealth and asset management, and group health and protection.

Reported Net Income Surge

The reported net income for Sun Life Financial Inc. in Q3 2024 was $1,348 million, which represents a substantial increase of $477 million or 55% from Q3 2023. This surge was attributed to a decrease in estimated acquisition-related liabilities and favorable equity market impacts, among other factors.

Assets Under Management

Sun Life Financial Inc. saw its assets under management (AUM) grow to $1,515 billion by the end of the third quarter of 2024. This represents an increase of $175 billion or 13% from the same period in the previous year, reflecting the company's strong capital raising and deployment across its asset management platforms.

Dividend Increase

In line with its strong financial performance, Sun Life Financial Inc. announced an increase in its common share dividend from $0.81 to $0.84 per share. This decision underscores the company's commitment to delivering value to its shareholders and reflects its robust financial health.

Return on Equity

Sun Life Financial Inc. reported a notable improvement in its return on equity (ROE) for the third quarter of 2024. The underlying ROE was 17.9%, while the reported ROE reached 23.8%, compared to 17.7% and 16.6% respectively in Q3 2023. This improvement highlights the company's effective management and operational efficiency.