Key Developments: Sun Life Financial Inc (SLF)
29.16USD
17 May 2013
$0.04 (+0.14%)
$29.12
$28.74
$29.27
$28.64
391,574
407,672
$29.97
$18.94
Latest Key Developments (Source: Significant Developments)
Sun Life Financial Inc Declares Quarterly Dividends On Common And Preferred Shares
Sun Life Financial Inc announced a quarterly dividend of $0.36 per common share, payable June 28, 2013, to shareholders of record at the close of business on May 29, 2013. The Board also announced that the following quarterly dividends on its Class A Non-Cumulative Preferred Shares are payable on June 28, 2013, to shareholders of record at the close of business on May 29, 2013: Series 1 $0.296875 per share Series 2 $0.30 per share Series 3 $0.278125 per share Series 4 $0.278125 per share Series 5 $0.28125 per share Series 6R $0.375 per share Series 8R $0.271875 per share Series 10R $0.24375 per share Series 12R $0.26563 per share Full Article
Sun Life Financial Inc Declares Quarterly Dividend
Sun Life Financial Inc announced that the declared a quarterly shareholder dividend of $0.36 per common share, maintaining the current quarterly dividend. Full Article
Sun Life Financial Inc And Khazanah Nasional Berhad To Acquire CIMB Aviva Assurance Berhad
Sun Life Financial Inc and Khazanah Nasional Berhad (Khazanah) are establishing a strategic partnership to acquire 98% of CIMB Aviva Assurance Berhad, a Malaysian life insurance company, and CIMB Aviva Takaful Berhad, a Malaysian takaful company (together, the Company), in a transaction valued at MYR1.80 billion (CAD586 million). Sun Life and Khazanah are each paying MYR900 million (CAD293 million) in respect of the transaction, which includes entering into a new 20-year exclusive bancassurance agreement with CIMB Bank. Sun Life and Khazanah are each acquiring 49% of the Company from Aviva International Holdings Limited and CIMB Group Holdings Berhad (CIMB Group), respectively. CIMB Group will retain a 2% share in the Company. The transaction includes an exclusive right to distribute insurance products, including takaful products, through CIMB Bank's network across Malaysia. The transaction is expected to close by the first half of 2013. Full Article
Sun Life Financial Inc And Khazanah Nasional Bhd To Buy Aviva's Malaysian Ops-Reuters
Reuters reported that the consortium Sun Life Financial Inc and Malaysian state investor Khazanah Nasional Bhd have agreed to buy Aviva's Malaysian insurance joint venture with lender CIMB for about MYR1.7 billion ($563 million). The Malaysian deal is expected to be signed on January 14, 2013. Full Article
Fitch Affirms Sun Life Financial Inc's Ratings; Outlook Negative
Fitch Ratings announced that it has affirmed the ratings of Sun Life Financial Inc including all outstanding issues, as well as the Insurer Financial Strength (IFS) ratings of SLF's primary Canadian insurance subsidiaries at 'AA-'. The Rating Outlook is Negative. The 'A-' IFS ratings of SLF's U.S. life insurance subsidiaries remain on Rating Watch Negative. Full Article
Sun Life Financial Inc To Sell U.S. Annuity Business
Sun Life Financial Inc announced the execution of a definitive agreement whereby Delaware Life Holdings, a company owned by shareholders of Guggenheim Partners, will purchase Sun Life's domestic U.S. annuity business and certain life insurance businesses for a base purchase price of USD1.35 billion, as adjusted to reflect the performance of the business through closing. Employees of Sun Life Financial U.S. in Wellesley, Massachusetts; Lethbridge, Alberta; and Waterford, Ireland will continue to support the acquired businesses, which will be renamed Delaware Life Insurance Company. Guggenheim Partners will provide services to the Company including investment management. The transaction is expected to close by the end of Q2 2013. Full Article
Guggenheim In Lead For $1 Billion Sun Life Financial Inc Unit-Reuters
Reuters reported that U.S. institutional asset manager Guggenheim Partners has emerged as the lead bidder for Sun Life Financial Inc's variable annuity business, in a deal that could fetch more than $1 billion, according to people familiar with the matter. Guggenheim Partners has outbid at least two other parties - British financial services firm Resolution Group and U.S. private equity firm JC Flowers - in the auction for the Sun Life unit. Full Article
Sun Life Financial Inc Declares Quarterly Dividends On Common And Preferred Shares Payable In Q4 2012
Sun Life Financial Inc announced a quarterly dividend of $0.36 per common share, payable December 31, 2012, to shareholders of record at the close of business on November 28, 2012. This is the same amount as paid in the previous quarter. The Board also announced that the following quarterly dividends on its Class A Non-Cumulative Preferred Shares are payable on December 31, 2012, to shareholders of record at the close of business on November 28, 2012: Series 1 $0.296875 per share Series 2 $0.30 per share Series 3 $0.278125 per share Series 4 $0.278125 per share Series 5 $0.28125 per share Series 6 $0.375 per share Series 8R $0.271875 per share Series 10R $0.24375 per share Series 12R $0.26563 per share Dividends payable on December 31, 2012. Full Article
Sun Life Financial Inc Comments On FY 2013-2015 Net Income Guidance-Conference Call
Sun Life Financial Inc announced that it expects net income for the period from fiscal 2013 to fiscal 2015 to be reduced by approximately CAD500 million in total. According to I/B/E/S Estimates, analysts are expecting the Company to report net income of $1.4 billion for fiscal 2013; net income of $1.6 billion for fiscal 2015. Full Article
Sun Life Financial Inc Declares Quarterly Dividends On Common And Preferred Shares Payable In Q3 2012
Sun Life Financial Inc announced a quarterly dividend of $0.36 per common share, payable September 28, 2012, to shareholders of record at the close of business on August 29, 2012. This is the same amount as paid in the previous quarter. The Board also announced that the following quarterly dividends on its Class A Non-Cumulative Preferred Shares are payable on September 28, 2012, to shareholders of record at the close of business on August 29, 2012: Series 1 $0.296875 per share ; Series 2 $0.30 per share ;Series 3 $0.278125 per share ;Series 4 $0.278125 per share ; Series 5 $0.28125 per share ; Series 6 $0.375 per share ; Series 8R $0.271875 per share ; Series 10R $0.24375 per share ; Series 12R $0.26563 per share .Dividends payable on September 28, 2012, to participants in the Canadian Dividend Reinvestment and Share Purchase Plan (the "Plan") will be used to purchase common shares issued from treasury at a 2% discount to the volume weighted average market price determined in accordance with the Plan. Full Article
Sun Life Financial profit falls 25 percent on markets
TORONTO - Sun Life Financial said on Wednesday its first-quarter profit fell by 25 percent, but topped estimates, as Canada's No. 3 insurer was hurt by less favorable financial markets than in the year-before period.
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