Sun Life Financial Inc. Reports First Quarter 2025 Results
TORONTO, May 8, 2025 /CNW/ – Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) announced its results for the first quarter ended March 31, 2025. The company reported underlying net income of $1,045 million, a 19% increase from Q1’24, with underlying return on equity (“ROE”) at 17.7%.
Financial Highlights
- Asset management & wealth underlying net income: $487 million, up $79 million or 19%
- Group – Health & Protection underlying net income: $330 million, up $50 million or 18%
- Individual – Protection underlying net income: $325 million, up $55 million or 20%
- Corporate expenses & other: $(97) million net loss, increase in net loss of $(14) million or 17%
Reported net income of $928 million increased $110 million or 13% from Q1’24, with reported ROE at 15.7%. Assets under management (“AUM”) reached $1,551 billion, a 6% increase from Q1’24.
Business Segment Highlights
Asset Management
- Underlying net income: $351 million, up 24% from prior year
- AUM: $1,124 billion as of Q1’25
- MFS won the 2025 Lipper Award for Fixed Income
Canada
- Underlying net income: $376 million, up 21% from prior year
- Asset management gross flows & wealth sales: $7 billion, up 60%
U.S.
- Underlying net income: $218 million, up 15% from prior year
- Expanded Family Leave Insurance offering to additional states
Asia
- Underlying net income: $197 million, up 11% from prior year
- Individual sales: $735 million, up 17%
- Launched new constituent fund in Hong Kong
Dividend Increase
Sun Life announced a 5% increase to its common share dividend from $0.84 to $0.88 per share.
Conference Call
The company’s Q1’25 financial results will be reviewed at a conference call on Friday, May 9, 2025, at 10:00 a.m. ET. The webcast can be accessed at www.sunlife.com/QuarterlyReports.
