Q1 2025 Sun Life Financial Inc Earnings Call Transcript
Key Points
- Sun Life Financial Inc (SLF) reported a record underlying net income of $1.045 billion, up 19% year over year.
- The company achieved a 21% increase in underlying earnings per share, reaching $1.82.
- Asset management and wealth segments showed strong earnings growth, particularly in SLC management and Asia.
- Sun Life Financial Inc (SLF) announced a 5% increase in its common share dividend and renewed its normal course issuer bid for share buybacks.
- The company maintained a strong capital position with a LICAT ratio of 149% and $1.3 billion in cash at the Holdco level.
- Sun Life Financial Inc (SLF) experienced moderately unfavorable morbidity experience in the US Medical stop-loss segment.
- The company faced unfavorable equity markets and adverse real estate experience, impacting market-related returns.
- MFS reported a 2% year-over-year decline in underlying net income due to lower net investment income.
- US group health and protection sales were down 13% year over year, driven by lower government dental sales and lower employee benefit sales.
- The company noted challenges in the dental business, with ongoing pricing and claims management issues.
Good morning, everyone and welcome to Sun Life's Financial Q1 2025 conference call. My name is Gaylene, and I will be your conference operator today. (Operator Instructions)
The host of the call is Natalie Brady, Senior Vice President, Capital Management and Investor Relations. Please go ahead, Ms. Brady.
Thank you and good morning, everyone. Welcome to Sun Life's earnings call for the first quarter of 2025. Our earnings release and the slides for today's call are available on the investor relations section of our website at sunlife.com.
We will begin today's call with opening remarks from Kevin Strain, President and Chief Executive Officer. Following Kevin, Tim Deacon, Executive Vice President and Chief Financial Officer, will present the financial results for the quarter. After the prepared remarks, we will move to the question-and-answer portion of the call. Other members of management are also available to answer your questions this
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