Sun Life Financial reports Q2 underlying EPS $1.79 vs. $1.72 last year

AUM of C$1,541B increased C$76B or 5% from 2Q24. “Sun Life’s Q2 results were driven by record underlying net income in Asia with strong protection business growth, higher wealth management and investment earnings. We also saw a 15% increase in bancassurance sales across several of our Asia markets, including Hong Kong, India and the Philippines, as well as continued growth in SLC Management flows, demonstrating resilience in our business mix,” said Kevin Strain, CEO. “Driving business and Client outcomes through digital initiatives remains one of our strategic priorities. Innovative GenAI tools are accelerating progress across all of our four pillars, enhancing Client experience and interactions, decreasing processing times for claims, and driving productivity savings. We maintained a strong capital position with a LICAT ratio of 151% providing stability and flexibility to invest, grow and create long-term value for our stakeholders, while navigating an uncertain external environment. We continue to be active in our share buy-back program purchasing nearly $400M of shares in the quarter.”