Sun Life Financial, Inc.NYSE
Thu, Nov. 10, 12:32 PM
- The regulatory regime will be "more constructive" under a President Trump, says management at the company's investor day.
- Webcast and presentation slides
- Of the post-election surge in interest rates, CIO Steve Goulart says he's a fan, and that the move is "favorable to us."
- Ahead of today's meeting, the company announced a $3B buyback plan.
- MET's 4.7% gain in this session puts the two-day advance at about 12% - the best two-day move for the stock since 2009.
- Other insurers: Prudential (PRU +3.1%), Manulife (MFC +7.2%), Sun Life (SLF +8.3%), Lincoln Financial (LNC +2%), Primerica (PRI +10.6%), Voya (VOYA +6.2%), AIG (AIG +3.2%)
Wed, Nov. 9, 6:06 PM
Wed, Nov. 9, 5:12 PM
Tue, Nov. 8, 5:35 PM
- APPS, APU, ATHX, ATO, CALL, CHMI, COTV, CPST, CSRA, CUI, CYTX, DIOD, ECPG, ECYT, EGAN, ENS, ETE, ETP, EVH, EVOK, EVRI, FF, FLO, FR, GALE, GDOT, GLF, HLIT, ICUI, INFI, JUNO, MACK, MIME, MNKD, MNTX, MRIN, MYL, NNI, NTES, NVAX, OMER, PAHC, PLKI, PRI, QHC, QNST, RBA, RELY, RPD, RTK, SEDG, SGRY, SHAK, SLF, SLW, SPTN, SPWR, SREV, SUN, SXL, TASR, TCRD, TCS, TPIC, TTEC, TTEK, TTGT, TUBE, UGI, UHAL, VRTU, VVUS, WAGE, WUBA, XON, XONE, YUME, ZLTQ
Mon, Sep. 26, 3:13 PM
- In what doesn't sound like great news for the already-yield-starved insurance industry, cash balances are "ticking upward," says Zach Buchwald, head of BlackRock's insurance asset-management operation.
- Buchwald: “In today’s environment, where every basis point is so precious, within your core fixed income, we want to be investing wisely and generating the best risk-adjusted returns we can, and a large cash balance doesn’t help.”
- Nearly half of 315 insurers surveyed globally expect to boost cash holdings in coming months - that's up from 36% a year ago, says BlackRock. At issue are poor performance in alternative investments and credit concerns following a sizable narrowing in spreads this year.
- Struggling insurers are past the point of expecting rising interest rates, says Buchwald. So - other than cash - where else will the money go? Allocations to private-equity appear to be set to rise, and outfits like AIG are turning to direct lending. At MetLife (NYSE:MET), commercial real estate loans hit a record last year.
- Other interested parties: PRU, LNC, MFC, SLF, PRI, VOYA
Wed, Aug. 10, 5:27 PM
Wed, Aug. 10, 5:18 PM
Tue, Aug. 9, 5:35 PM
Wed, Aug. 3, 7:58 AM
- Sun Life Financial (NYSE:SLF) will acquire the pension business of FWD Life Insurance Company, and the two will enter a 15-year distribution agreement allowing Sun Life HK to distribute its pension products through FWD's agency force in Hong Kong.
- The deal will add C$769M to Sun Life HK's MPF AUM, and bring Sun Life HK's combined AUM to C$5.8B.
Tue, May 10, 5:45 PM
- Sun Life Financial (NYSE:SLF) declares C$0.405/share quarterly dividend, 3.8% increase from prior dividend of C$0.39.
- Forward yield 3.78%
- Payable June 30; for shareholders of record June 1; ex-div May 27.
Tue, May 10, 5:16 PM
- Sun Life Financial (NYSE:SLF): Q2 EPS of $0.95 beats by $0.04.
- Revenue of $8.78B (+19.8% Y/Y)
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.
- 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.
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
- Sun Life Financial (NYSE:SLF): Q4 EPS of $0.98 beats by $0.10.
- Revenue of $5.57B (-24.5% Y/Y) beats by $2.74B.
- Shares +0.6% AH.