Sun Life Financial reports Q3 EPS $1.48, consensus $1.14

Reports Q3 Underlying net income of $930M decreased $19M or 2% from Q3 of FY22; underlying ROE was 17.7%. “Sun Life delivered good results and we continue to benefit from our diversified business mix with strong net income in Canada, growth in SLC Management fee-related earnings and good growth in Asia,” said Kevin Strain, President and CEO of Sun Life. “We completed our acquisition of Dialogue, Canada’s leading virtual health and wellness provider that gives access to quality, high-touch care. In Asia, we increased our investment in Bowtie, Hong Kong’s first virtual insurer. Since the beginning of our partnership five years ago, Bowtie has grown in digital distribution, sales and increased market share. In the U.S., we’ve extended our Teledentistry.com partnership to DentaQuest, which will provide approximately 3.5M people across 20 states access to oral and dental care. SLC Management’s strategic relationship with Scotiabank Global Wealth Management to provide private asset solutions in the Canadian market will help to meet the growing demand for alternative investments.”