Sun Life Financial 2Q16 results

Sun Life Financial Inc. has announced its results for the second quarter ended 30 June 2016. Second quarter reported net income was CAN$480 million. Second quarter operating net income and underlying net income were CAN$474 million and CAN$554 million, respectively.

"Sun Life's strategy stood up well during the second quarter, delivering CAN$554 million in underlying net income and an 11.9% underlying ROE in the face of a challenging environment," said Dean Connor, President and Chief Executive Officer, Sun Life Financial.

"We made good progress at integrating our acquisitions announced last year; increased ownership in our Asian joint venture operations; and continued our investment in organic growth. Combined, these are reflected in a 26% increase in our insurance sales and a 3% increase in wealth sales."

"From the perspective of our clients, we continued to deliver strong medium and longer-term investment results in our asset management businesses; delivered claims and benefits payments of CAN$7.5 billion in the first six months of the year; rolled out new digital tools in Canada and Asia to make it easier to do business with us; and brought to our clients one of the broadest portfolios of ancillary group benefits in the US in the quarter, as we welcomed the Assurant clients this year," Connor said.

Find the detailed, full report here.

Edited from source by Stephanie Roker

Read the article online at: https://www.worldpipelines.com/business-news/11082016/sun-life-financial-2q16-results/