Latest news with #SunLifeFinancial
Bloomberg
18-07-2025
- Business
- Bloomberg
Hong Kong Insurer Bowtie Raises Up to $70 Million From Sun Life
Bowtie Life Insurance Co. has secured up to $70 million in a private funding round led by Sun Life Financial Inc. 's Hong Kong unit. The investment, part of a Series C funding round, will help Bowtie achieve goals that include becoming a top five provider of medical insurance in Hong Kong and expanding internationally, the digital insurer said in a statement Friday.
Globe and Mail
03-07-2025
- Business
- Globe and Mail
This advisor has seen attitudes toward sales and planning change in her 48 years in the industry
In the Behind the Advice series, Globe Advisor asks advisors about their relationship with money from a young age, lessons learned over the years and how their experiences influence the advice they give to clients. We've also launched a Behind the Advice podcast – find all the episodes here. Audrey Chiang, an advisor and president with Audrey Chiang Insurance Services Inc. at Sun Life Financial Investment Services (Canada) Inc. in Toronto, talks about growing up in Hong Kong before moving to Canada to study, losing money in the dot-com meltdown, and changes she's seen in her 48 years as an advisor: Describe your upbringing. I was born in the 1950s in Hong Kong, the youngest of seven children. My father was a businessman; he passed away many years ago. My mother, who is still alive – she just turned 104 – was a housewife. My parents were very careful in running the household expenses. My mother gave us a new wardrobe once a year, only during the Chinese New Year. They taught us not to spend money unnecessarily and encouraged us to study hard and get a good education if we wanted to become successful one day. Two of my older siblings came to Canada for university. I was lucky that my parents also allowed me to study abroad. I came to Canada when I was a teenager. I finished my high school education in Saskatchewan and studied economics at McMaster University in Hamilton. Describe your first money lesson. When I moved to Canada, my parents gave me $3,000 as spending money, which was a lot in the early 1970s. (They covered my school and housing costs.) It was the first time I had been given such a large amount of money. I spent very little of it. I worked during the summer as a chambermaid at a hotel, earning $2.75 an hour. I saved as much of that money as I could. Once I went to university, I applied for student loans and worked part-time to support my living expenses. I was very careful not to spend money unnecessarily, which is something I continue to do today. I save money first before I spend. I only buy what I can afford. What did you want to be when you grew up, and how did you get into financial services? Growing up, I wanted to become a banker. I was inspired by my father, who was a successful businessman. My parents were also into buying stocks and real estate in Hong Kong. After getting my university degree, I applied for jobs in the banking and insurance sectors. I picked the insurance business because the recruiter told me that I could be my own boss and earn a higher income helping clients with their health and wealth protection needs. What decision around money and investing made the greatest impact on your life? I am always looking for growth opportunities. My husband and I have moved our family four times in the past 40 years, switching from smaller to larger homes and taking advantage of no tax on the sale of principal residences. We also invest in stocks and mutual funds. It's also something we teach our three children to do. What is the biggest money mistake you've made, and what did you learn from it? My husband and I didn't have experience in the stock market and lost money in the dot-com bubble in 2001. After that, we learned not to invest heavily in a single sector. Diversification is the most effective strategy for investing. Also, be disciplined. Don't chase high returns. Don't be greedy. What do you worry about when it comes to money, both personally and in the industry? I worry about losing my own money and that of my clients. I will evaluate the risk before investing and always put my clients' needs at the centre, including their goals, needs, lifestyle considerations and potential risks. How long have you been an advisor, and what have been some of the major changes you've seen in your career to date? I just celebrated my 48th anniversary of being an advisor. When I started in my 20s, it was more about selling products than financial planning. Today, people have more assets and wealth, and therefore require more comprehensive planning strategies. Technology has also changed a lot. There's a lot of great software that helps us with planning strategies. There's also AI software that helps advisors streamline our work, which means we can spend more time helping clients directly. What advice do you have for someone who wants to enter your business? It's a lucrative business being an insurance and investment advisor. You have to enjoy what you're doing in the business. You have to prepare to work long hours. You need to continue your education to give valuable advice to the clients. It's not about making a sale. You need to be honest and provide continuous service to the clients. This interview has been edited and condensed.
Yahoo
27-06-2025
- Business
- Yahoo
RGA Stock Trading at Discount to Industry at 1.14X: Time to Hold?
Reinsurance Group of America RGA shares are trading at a discount to the Zacks Life Insurance industry. Its forward price-to-book value of 1.14X is lower than the industry average of 1.97X, the Finance sector's 4.18X and the Zacks S&P 500 Composite's 8.18X. The life insurer has a Value Score of insurer has a market capitalization of $13.13 billion. The average volume of shares traded in the last three months was 0.4 of Sun Life Financial Inc. SLF and Primerica, Inc. PRI are also trading at a multiple higher than the industry average, while Manulife Financial Corp. MFC shares are trading at a discount. Image Source: Zacks Investment Research Shares of Reinsurance Group are trading above the 50-day simple moving averages (SMA) of $197.98, indicating solid upward momentum. Shares of this life insurer have lost 3.2% in the past year against the industry's growth of 14.8%, the Finance sector's return of 19.7% and the S&P 500 composite's appreciation of 11.3%. Image Source: Zacks Investment Research Reinsurance Group has a decent earnings surprise history. Its earnings beat estimates in three of the last four quarters and missed in one, with an average surprise of 7.85%. The Zacks Consensus Estimate for Reinsurance Group's 2025 earnings per share indicates a year-over-year increase of 2.2%. The consensus estimate for revenues is pegged at $23.45 billion, implying a year-over-year improvement of 2.6%. The consensus estimate for 2026 earnings per share and revenues indicates an increase of 11.1% and 9.8%, respectively, from the corresponding 2024 estimates. Earnings have grown 15.3% in the past five years, better than the industry average of 7.8%. RGA has an impressive Growth Score of B. This style score helps analyze the growth prospects of a company. Based on short-term price targets offered by 11analysts, the Zacks average price target is $244.64 per share. The average suggests a potential 25.1% upside from the last closing price. Image Source: Zacks Investment Research Four of the six analysts covering the stock have raised estimates for 2025, and two analysts have raised the same for 2026 over the past 60 days. Thus, the Zacks Consensus Estimate for 2025 and 2026 earnings has moved up 1.2% and 0.3%, respectively, in the past 60 days. Image Source: Zacks Investment Research Its return on invested capital (ROIC) has increased every year, reflecting RGA's efficiency in utilizing funds to generate income. ROIC in the trailing 12 months was 6%, higher than the industry average of 0.6%. Reinsurance Group is a leader in the traditional U.S. and Latin American markets. It has successfully expanded its product line with market-leading services, capabilities, expertise and innovation. Individual mortality has matured, providing a base for stable earnings and capital generation. Significant value embedded in the in-force business is anticipated to generate predictable long-term earnings. Product-line expansion contributes to risk Canada, Reinsurance Group is a market leader with solid growth and profitability. It has a sizable block of in-force business, which is a significant source of future earnings. Reinsurance Group expects longevity insurance, projected to witness steady demand, to experience long-term growth in the Canadian market. While longevity insurance provides a diversified income source, it also acts as a hedge against a large mortality position. Demand for protection products among the emerging global middle class and increasing demand for retirement, senior protection and savings products among aging populations create opportunities for growth in new business. RGA is well-capitalized and has access to multiple forms of capital. RGA expects to remain active in deploying capital in attractive growth opportunities while balancing returning excess capital to shareholders over Group continues to ramp up technological inclusion with its product. This insurer is a global biometric liability reinsurance leader. Biometrics experience, which includes mortality, morbidity and longevity, over the last five quarters was company's free cash flow conversion has remained more than 85% over the last few quarters, reflecting its solid earnings. This global reinsurer has also been managing capital effectively via share buybacks, dividend payments and prudent investments. RGA expects to remain active in deploying capital into attractive growth opportunities in organic flow and in-force block transactions and returning excess capital to shareholders through dividends and share repurchases. New business volumes, favorable longevity experience, a diversified business and effective capital deployment should continue to favor RGA over the long term. The stock also has a VGM Score of A. VGM Score helps identify stocks with the most attractive value, best growth and the most promising solid growth projections as well as attractive valuations are other positives. Coupled with optimistic analyst sentiment and favorable ROIC of the stock, it is, therefore, wise to hold on to this Zacks Rank #3 (Hold) stock. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Manulife Financial Corp (MFC) : Free Stock Analysis Report Reinsurance Group of America, Incorporated (RGA) : Free Stock Analysis Report Primerica, Inc. (PRI) : Free Stock Analysis Report Sun Life Financial Inc. (SLF) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
09-05-2025
- Business
- Globe and Mail
Sun Life Financial CEO says U.S. tariff impacts on market appear manageable so far
The impact of U.S. tariffs on financial markets has been manageable for Canada's second-largest life insurer, its chief executive officer says. Sun Life Financial Inc. SLF-T CEO Kevin Strain said Friday he has been scenario-testing impacts on his company as a cautionary measure amid current economic uncertainty. During an interview with The Globe and Mail, Mr. Strain said Sun Life has a very strong capital position, but it is an unusual time in the industry, so he wants to be cautiously prepared. Diversification will help Manulife steer through global economic uncertainty, CEO says 'We are trying to make sure we understand the situation. But look where everything is – markets are a little bit down but have roughly held in, interest rates are roughly the same, the currency is roughly the same as well as credit,' he said. 'We don't want to overreact to the negative, so I think we're preparing for the worst, but not expecting the worst.' Sun Life beat analysts' profit expectations as it reported first-quarter 'underlying' net income of $1.04-billion, or $1.82 a share. That is up from $875-million, or $1.50 a share, in the same period last year. Sun Life's net income for the quarter was $928-million, up from $818-million in the first quarter of 2024. Analysts' expectations were set at $1.70 a share, according to an RBC Capital Markets report. The insurer saw its profit increase across all three of its geographic segments: Canada, Asia and the United States. In recent months, Mr. Strain has spoken directly with local governments in all three. 'We are able to get a much better perspective than if we were just in one of those locations and I can see that in all of the markets where we do business, governments want strong economies, and they're trying to do their piece to create that,' he said. 'Governments all over the world are thinking about prosperity, and wealth generation, and retirement, but health care is a massive issue.' During these meetings – at home and abroad – Mr. Strain said he has talked with health ministers about the growing concern of rising health care costs. 'It's having an impact on their citizens and on their deficits,' he added. Sun Life's U.S. segment reported $218-million in underlying income, up 15 per cent from $189-million in the same quarter in 2024. However, conversations about proposed Medicaid cuts coming out of Washington could indirectly affect Sun Life's U.S. group-benefits business, as some state-funded health plans face uncertain revenue, Sun Life's U.S. head, Dan Fishbein, said during an analyst call on Friday. Responding to a question on whether Medicaid cuts would hit profits at group-benefit subsidiary DentaQuest – a 2021 acquisition that has previously seen profits stall owing to public-health restrictions around COVID-19 – Mr. Fishbein said he doesn't see any direct impact to the dental group-benefits business, but that it could have a ripple effect if certain U.S. states look to reduce their health budgets. 'That is making some of the second round of renegotiations that we're engaged in this year – to get our pricing back to where it needs to be – go somewhat more slowly than perhaps we had hoped or expected,' Mr. Fishbein said. 'So that's certainly a factor.'
Yahoo
09-05-2025
- Business
- Yahoo
Sun Life Financial profit rises on growth in Asia, wealth management
(Reuters) - Sun Life Financial on Thursday reported a rise in first-quarter profit, as the life insurer was helped by strength in its Asia market and strong performance in its wealth and asset management business. Canadian insurers, including Sun Life and Manulife Financial, are expanding in Asia to tap into a growing, under-insured middle class, helping them offset some of the weakness that they have been facing in the U.S. market. Manulife's 3% rise in first-quarter profit was also partly driven by growth in its Asia business. Sun Life's underlying income from its Asia markets rose 11% to C$197 million in the first quarter from the year-ago period. "In an increasingly complex business environment, we continue to advance on our Client Impact Strategy and strategic imperatives, underscored by new digital tools and capabilities, robust capital raising at SLC Management and strong sales and distribution in Asia," CEO Kevin Strain said in a statement. Its domestic business also reported a 21% rise in underlying net income, while asset management reported a 19% jump to C$487 million. The company's net income was C$928 million ($666.9 million), or C$1.62 per share, for the three months ended March 31. That compares with a profit of C$818 million, or C$1.40 per share, a year earlier. ($1 = 1.3916 Canadian dollars)
