Sun Life Financial's Valuation And Changing Model Make It Risky
Tue, May 10, 5:45 PM
Tue, May 10, 5:16 PM
Mon, Apr. 11, 7:32 AM
- The company closed a deal raising its ownership in Birla Sun Life Insurance Company Ltd. to 49% from 26%. BSLI was one of two JVs establsihed between Sun Life (NYSE:SLF) and its Indian partner. It has a network of more than 60K advisors in 418 cities across the country.
- Source: Press Release
- Now read: Sun Life Financial: Is Life Brighter Under The Sun?
Wed, Mar. 23, 7:17 AM
- The company will acquire the remaining 51% stake of PT CIMB Sun Life (CSL) from its longtime partner CIMB Group, becoming the full owner of the Indonesian life insurance provider.
- In addition Sun Life Financial Indonesia (NYSE:SLF) is extending its partnership with CIMB Group through an extended bancassurance arrangement with PT Bank CIMB Niaga Tbk, helping distriubtion abilities across CIMB Niaga's 618 branches.
- All this is in addtion to the company's plan to invest $40M to enhance its agency force in the country, increase online penetration, and strengthen brand presence in the market.
- The purchase is expected to close in Q3.
- Source: Press Release
Tue, Feb. 23, 3:25 PM
- "We’re concerned about the stage in the real-estate cycle Canada’s in right now," says Michael Andrews, managing director of Sun Life's (SLF -1%) Canadian commercial mortgage team. “We wanted to ensure our portfolio could withstand, for example, a 25% drop in prices. Do we think that will happen this year? No. But what about in five years? It’s just prudent to test.”
- The insurer is wrapping up a stress test of about half of its C$8B mortgage portfolio (assuming that 25% decline), and the results have been "fairly good," he says.
- Then there's British Columbia, where foreign investors are buying office properties at "hard to fathom" prices, says John Miron from Royal Bank of Canada (RY -1.9%). “These foreign investors have a 30-year horizon and that’s hard to lend against." His bank, he says, is making fewer exceptions when it comes to underwriting.
Thu, Feb. 11, 12:51 PM
- At the moment it's yet again looking like "wait till next year," for the sustained rise in interest rates the life insurers need to be able to earn some real money.
- Last night it was Prudential Financial (PRU -10.1%) joining MetLife (MET -4.7%) and Lincoln Financial (LNC -9.2%) in reporting a disappointing Q4, with investment results contributing $105M less this year that they did in Q4 of 2014.
- While still upbeat on the economic outlook, Janet Yellen is spending an uncomfortable amount of time in her Congressional testimony talking about negative interest rates, and a chart of Google searches for "negative interest rates" is through the roof.
- Manulife (MFC -10.3%), Sun Life (SLF -3%), Primerica (PRI -3.7%), Voya Financial (VOYA -4.6%)
- The 10-year Treasury yield is lower by 10 basis points to 1.6%, and short-term rate futures have begun pricing in a rate cut by the Fed.
Wed, Feb. 10, 5:15 PM
Wed, Feb. 10, 5:14 PM
Mon, Jan. 11, 9:18 AM
- Randy Brown will oversee the investment operations of Sun Life (NYSE:SLF) Assurance Company of Canada, which had invested assets of about $135B as of Sept. 30.
- He takes over as CIO from Steve Peacher, who was previously CIO and president, and will now concentrate on the latter role.
- Brown has been in the business for three decades, and was most recently Global Head of Insurance and Pension Solutions and U.K. Head of Asset and Wealth Management at Deutsche Asset and Wealth Management.
Dec. 23, 2015, 10:48 AM
- While the company's earnings can be volatile thanks to turbulence in its underlying investment portfolio and currency changes, the high yield provides a good enough offset, says analyst Stephen Biggar, upgrading Sun Life (SLF +1.8%) to Buy from Hold. The $37 price target is nearly 20% above last night's close.
- Despite seeing improvements in its Asian and U.S. businesses, the stock is lower by 9.1% over the past quarter vs. just a 4.1% decline for the S&P 500.
Dec. 2, 2015, 8:11 AM
- For roughly C$340M, Sun Life (NYSE:SLF) has raised its stake in its India JV - Birla Sun Life Insurance - to 49% from 26%.
- BSLI is one of two India JVs between Sun Life and Aditya Birla Group. BSLI started up in 2001 and has a customer base of 1.6M policyholders. The other JV is Bria Sun Life Asset Management, and it's the fourth-largest mutual fund company in India with AUM of C$28B (Sun Life owns 49% of that).
- This new deal is expected to add C$0.01 to Sun Life's EPS in 2016.
Nov. 12, 2015, 8:38 AM
Nov. 4, 2015, 6:31 PM
- Sun Life Financial (NYSE:SLF) declares C$0.39/share quarterly dividend, 2.6% increase from prior dividend of $0.38.
- Forward yield 3.5%
- Payable Dec. 31; for shareholders of record Nov. 25; ex-div Nov. 23.
Nov. 4, 2015, 6:07 PM
- Sun Life Financial (NYSE:SLF): Q3 EPS of $0.78 misses by $0.09.
- Revenue of $5.57B (-10.9% Y/Y)
Nov. 3, 2015, 5:35 PM
- ACAS, ACLS, ACXM, AEL, AHT, ALB, ALR, ANDE, ARC, AREX, ARPI, ATO, AVG, AWAY, AWK, BGC, BKCC, BKD, BNFT, BOJA, BREW, BRKR, BWXT, CAA, CBPX, CCRN, CDI, CDXS, CF, CJES, CLR, CNAT, CODI, COHR, CPE, CSC, CSGS, CSII, CSLT, CTL, CVG, CVT, CXO, CXW, DCO, DOOR, DPM, DXCM, DYN, EGAN, ENVA, EOX, EPAM, EPM, EQC, ETE, ETP, EVAR, EVTC, EXAM, FB, FC, FEYE, FLT, FOE, FPRX, FRSH, FRT, FTD, FUEL, G, GDDY, GPOR, GTY, GUID, HABT, HASI, HDP, HIVE, HOLX, HR, HRTG, HUBS, IL, IO, JKHY, JONE, JRVR, KAI, KAR, KIM, KING, KND, KW, LADR, LCI, LDRH, LGCY, LHCG, LPSN, MATX, MB, MBI, MCHP, MCHX, MELI, MET, MHLD, MITT, MNTX, MOSY, MRIN, MRO, MTDR, MTRX, MUSA, MWA, MYRG, NLY, NNBR, NOG, NP, NWPX, OME, OSUR, PDLI, PE, PEIX, PFMT, PFSI, PGTI, PHH, PMT, POWR, PRA, PRI, PRU, PSEC, QCOM, QUOT, RDEN, RENT, RGR, RIG, RIGP, RJET, RLJ, RNR, RST, SBAC, SBY, SCSS, SD, SF, SGM, SLF, SPPI, SQNM, STR, SUN, SWM, SXL, TCAP, TEP, TROX, TS, TSE, TUMI, TWO, TXMD, UHAL, VEC, VVUS, WFM, WMGI, WPX, WRK, WSR, WTI, XENT, XNPT, XPO
Sep. 21, 2015, 3:02 PM
Sun Life Financial, Inc. is a diversified financial services company. It provides savings, retirement and pension products, and life and health insurance to individuals and groups through its operations in Canada, the United States, the United Kingdom and Asia. The company operates its business... More
Industry: Life Insurance
Other News & PR