Latest news with #SunLife
Cision Canada
8 hours ago
- Business
- Cision Canada
Sun Life Reports Results of Conversion Privilege of Class A Non-Cumulative Rate Reset Preferred Shares Series 8R and Class A Non-Cumulative Floating Rate Preferred Shares Series 9QR Français
TORONTO, June 20, 2025 /CNW/ - Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) today announced that 1,400 of its 6,217,331 Class A Non-cumulative Rate Reset Preferred Shares Series 8R (the "Series 8R Shares") have been elected for conversion on June 30, 2025, on a one-for-one basis, into Class A Non-cumulative Floating Rate Preferred Shares Series 9QR (the "Series 9QR Shares"), and 2,664,916 of its 4,982,669 Series 9QR Shares have been elected for conversion on June 30, 2025 on a one-for-one basis into Series 8R Shares. Consequently, on June 30, 2025, Sun Life will have 8,880,847 Series 8R Shares and 2,319,153 Series 9QR Shares issued and outstanding. The Series 8R Shares and Series 9QR Shares will be listed on the Toronto Stock Exchange under the symbols and respectively. Subject to regulatory approval, Sun Life may redeem all or any part of the outstanding Series 8R Shares, at Sun Life's option, by the payment of an amount in cash for each share so redeemed of $25.00, together with all declared and unpaid dividends to the date fixed for redemption, on June 30, 2030 and on June 30 every five years thereafter. Subject to regulatory approval, Sun Life may redeem all or any part of the then outstanding Series 9QR Shares, at Sun Life's option, by the payment of an amount in cash for each share so redeemed of (i) $25.00, together with all declared and unpaid dividends to the date fixed for redemption in the case of redemptions on June 30, 2030 and on June 30 every five years thereafter, or (ii) $25.50, together with all declared and unpaid dividends to the date fixed for redemption in the case of redemptions on any other date. The Series 8R Shares and the Series 9QR Shares have not been and will not be registered under the United States Securities Act of 1933, as amended, and subject to certain exceptions, may not be offered, sold or delivered, directly or indirectly, in the United States of America for the account or benefit of U.S. persons. This release does not constitute an offer to sell or a solicitation to buy such securities in the United States. About Sun Life Sun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of March 31, 2025, Sun Life had total assets under management of $1.55 trillion. For more information, please visit Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.
Cision Canada
a day ago
- Business
- Cision Canada
Sun Life appoints Brennan Kennedy as new Chief Actuary Français
TORONTO, /CNW/ - Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) is pleased to announce the appointment of Brennan Kennedy as Senior Vice-President and Chief Actuary, effective October 4, 2025. Brennan is currently Sun Life's Senior Vice-President of Global Asset Liability Management. In his new role, Brennan will provide leadership, direction and vision for the actuarial functions across the organization with a focus on talent development, leading-edge technology solutions, innovations and thought leadership in support of Sun Life's strategic imperatives and Client Impact Strategy. He will partner closely with business groups and corporate functions to apply actuarial best practices to valuation, reporting, product development and pricing activities to ensure compliance with regulatory requirements and industry standards. Brennan is a seasoned leader with more than 26 years of deep experience and expertise at the organization. He has held progressively senior roles across the business in Actuarial, Risk Management, Finance and Asset Liability Management functions since joining in 1998. Brennan holds a Bachelor of Mathematics from the University of Waterloo and is a Fellow of the Canadian Institute of Actuaries and the Society of Actuaries. "I'm thrilled to have Brennan step into this critical role. I'm confident his leadership will continue to drive success for Sun Life," said Tom Murphy, Executive Vice-President and Chief Risk Officer. "His deep expertise and forward-thinking approach will be instrumental in supporting our continued growth and strengthening our actuarial capabilities as the industry evolves." Brennan succeeds Kevin Morrissey, Senior Vice-President and Chief Actuary, who will retire after an illustrious 37-year career with Sun Life on October 3, 2025. Over the next few months, Kevin will support Brennan in his onboarding to the Chief Actuary role until his retirement. Kevin began his career with Mutual Life of Canada in 1988, which eventually became Clarica, which was later acquired by Sun Life in 2002. Throughout his tenure, Kevin progressed through various leadership roles across Finance, Risk Management and Actuarial. He has served in his current role of Senior Vice-President and Chief Actuary since 2016. "On behalf of our Board of Directors and our Global Leadership Team, I'd like to thank Kevin for his leadership and tremendous contributions to Sun Life and wish him well in his retirement," added Murphy. "For the past two decades, Kevin has proved to be a key partner in helping Sun Life navigate various external economic challenges and maintain its resiliency. As the guiding light for our Global Actuarial Community, he has always led by example." About Sun Life Sun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional Clients. Sun Life has operations in a number of markets worldwide, including Canada, the U.S., the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of March 31, 2025, Sun Life had total assets under management of $1.55 trillion. For more information, please visit Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.
Filipino Times
a day ago
- Health
- Filipino Times
Sun Life unveils first health insurance plan tailored for OFWs
Overseas Filipinos have long been celebrated as the country's modern-day heroes, braving distance and sacrifice to build a better life for their families back home. Yet while they work tirelessly to secure their loved ones' future, many remain vulnerable when it comes to protecting their own health, especially while living abroad. When the one who cares for everyone else falls ill, the question remains: who will care for them? Thankfully, Sun Life has introduced OFW Health Protect, the first health insurance plan created specifically for overseas Filipinos. This innovative plan is set to benefit millions of OFWs, offering reliable protection and peace of mind wherever they are. Unlike typical insurance products, Sun Life OFW Health Protect understands the unique situation of Filipino migrant workers. It grants them access to teleconsultation with Filipino doctors, anytime, day or night, wherever they are. This means no more guessing or self-medicating out of fear of hospital bills or language barriers. Equally important, the plan provides a cash benefit upon diagnosis of a critical illness, offering much-needed financial support during life's most challenging moments. To ease the burden even more, Sun Life ensures that payment terms can be customized and aligned with an OFW's deployment contract, so they can complete payments within their work tenure abroad, without worry about unfinished obligations. For Filipinos working in the UAE, many of whom juggle multiple jobs and responsibilities, this new offering could mean the difference between facing illness alone and having a trusted partner to lean on. Sun Life's OFW Health Protect is a testament to what it means to be a true partner to the Filipino community—providing protection, understanding, and care that go beyond borders. Because every modern hero deserves to feel safe, even when far from home.
Cision Canada
a day ago
- Health
- Cision Canada
Chronic Conditions Collide: The Rising Complexity of Long-Term Disability Claims Français
Sun Life data shows many Canadians on disability are living with more than one chronic health condition TORONTO, June 19, 2025 /CNW/ - The latest report in Sun Life's Designed for Health series reveals a troubling trend in long-term disability (LTD) claims among Canadians. Mental disorders, circulatory disorders and cancer are the top three reasons for LTD, but their claims don't stop there. Employees on disability leave are increasingly struggling with multiple, overlapping health disorders, making their LTD claim more complex. Multiple chronic conditions (known as "comorbidities" or "multiple morbidities") have become more common among Canadians. Sun Life looked at the drug claims data from over 1.5 million people on LTD and found: Diabetes, mental disorders and cardiovascular conditions are among the top drug claims to treat a secondary condition. Members on LTD are two times more likely to claim for a chronic disease drug related to a secondary condition than those not on LTD. They are three times more likely to claim for chronic disease drugs, treating two or more conditions in addition to their primary LTD claim. Diabetes is a common thread throughout many LTD claims and illustrates how chronic health conditions are overlapping: Plan members on LTD leave are almost three times more likely to have a diabetes drug claim than others. Drug claims for diabetes are up 30% from 2019 to 2023 across all claimants, not just LTD. "Long-term disability claims are often complex and our data tells us that Canadians, more than ever, are struggling when it comes to their health and well-being," says Marie-Chantal Côté, Senior Vice-President, Sun Life Health. "Dealing with multiple chronic conditions can be challenging and requires a holistic and comprehensive approach to recovery. As a trusted health partner to millions of Canadians and their families, our mission is to empower our members with personalized solutions, ensuring easier access to the care they need." Supporting Employees on LTD to Return to Work The presence of two or more health issues often worsens the primary condition and makes disease management more complicated. This can mean a long and difficult road to recovery. Those with comorbidities often see a delay in returning to work and remain on claim for longer than the average claim. "The road to recovery looks different for everyone. When helping an employee return to health, it's important we look at the full picture of their health, from comorbidities to personal stressors, to come up with a treatment plan that is right for them," says Côté. "We take an empathic approach to care that helps employees regain a sense of normalcy." Sun Life takes a holistic approach to supporting our plan members. Some of the innovative health solutions we offer include: Psychosocial Questionnaire – Sun Life's innovative new tool allows case managers to gain a deeper understanding of plan member health. The questionnaire helps identity case complexity and ensures members get the timely, additional support and treatments they need. Medical Confidence – Through our partnership with Kii Health, Medical Confidence is offered to our members to enhance disability claim support by offering timely access to specialist care, saving plan members an average of 317 wait days for specialist appointments. 1 Pharmacogenomic testing – Allows plan members to find the right drug treatment faster by potentially eliminating or reducing the trial-and-error process of finding the right medication. Read the 2025 Designed for Health Report to learn more about the trends in long-term disability claims in Canada. About Sun Life Sun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional Clients. Sun Life has operations in a number of markets worldwide, including Canada, the U.S., the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of March 31, 2025, Sun Life had total assets under management of $1.55 trillion. For more information, please visit Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF. Note to editors: All figures in Canadian dollars To contact Sun Life media relations, please email [email protected].
Metro
11-06-2025
- Business
- Metro
Millions could be paying off debt well into retirement amid 'pension postcode lo
A 'postcode lottery' means people face carrying hefty mortgage debt well into retirement, an analysis has found. Years of putting off home buying amid rising property prices and extended mortgage terms mean some Britons will be paying off loans for decades. According to the study released today, 48% of over 50s are in some form of debt, with 14% having yet to pay off their mortgages. But regional inequality is rife in the UK, with at least 20% of over 50s in Northern Ireland being set to pay off home loans well into their golden years, the highest number in the UK. They have an average of £50,409.09 in outstanding debt. The highest percentage of debt-raddled over 50s in England is in the North West, at 19%, with an average mortgage debt of £48,839.55. But 30% of the age group in the region have no private pensions, with the average income being less than £25,000. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video London faces what the survey-maker called a 'perfect storm' of low homeownership, mountainous debt, financial anxiety and pay cheques that barely cover the bills. Just 55% of older Londoners own their home, while many take only £31,164 each year, far lower than in other regions. Over 50s cough up around £1,230 each month for their homes in the capital, far above the average payment elsewhere in the UK at £887. While fewer over 50s in East Anglia have mortgages to repay, the region has the most eye-watering average mortgage debt at £96,471.43. The South East is not far behind with an average debt of £95,905.77. In Scotland, more than half (53%) of the surveyed age group are in debt. Mark Screeton, CEO of SunLife, the life insurance group behind the survey, said: 'Our research shows a clear 'postcode lottery' when it comes to retirement, where people's ability to enjoy later life appears to be impacted by where they live. 'Whether it is mortgage repayments dragging into retirement or higher levels of consumer debt, older people in some areas are facing greater financial concerns than others.' More Trending The retirement age in the UK is 66 for men and women, which is when people receive their state pension. SunLife said that of the 2,000 people aged over 50 polled, the cost of living remains a top concern in certain regions. Worries over spiralling costs were highest in: Northern Ireland (74%) Scotland (71%) East Midlands (68%) London (56%) View More » Screeton added: 'For homeowners over 55 – even those with an outstanding mortgage – equity release could offer a way to clear debts, stop monthly repayments, and unlock the value in their home without having to move. Get in touch with our news team by emailing us at webnews@ For more stories like this, check our news page. MORE: Map reveals the 5 cheapest London postcodes where properties cost less than £300,000 MORE: I loaned my parents a few hundred quid — then they stole thousands MORE: Here's how you can find out if you're owed money from your state pension Your free newsletter guide to the best London has on offer, from drinks deals to restaurant reviews.
