Latest news with #SunLifeFinancialInc
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.
Cision Canada
04-06-2025
- Business
- Cision Canada
Sun Life Announces Early Renewal of Normal Course Issuer Bid Français
TORONTO, June 4, 2025 /CNW/ - Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) (the "Company" or "Sun Life") announced today that the Office of the Superintendent of Financial Institutions and the Toronto Stock Exchange (the "TSX") have approved the Company's previously announced early renewal of its normal course issuer bid. As of the date hereof, the Company has purchased on the TSX, other Canadian stock exchanges and/or alternative Canadian trading platforms 14,429,085 of the 15,000,000 common shares that it was authorized to repurchase under its NCIB that commenced on August 29, 2024 (the "2024 NCIB"), at a weighted average price paid per common share of approximately $81.49. Under the Company's renewed normal course issuer bid (the "2025 NCIB"), the Company will be permitted to purchase up to 10,570,915 common shares, being equal to the remaining 570,915 common shares that the Company has not repurchased under the 2024 NCIB plus an additional 10,000,000 common shares. The 2025 NCIB will commence on June 9, 2025 and continue until May 21, 2026 or such earlier date as the Company may determine. The average daily trading volume of the Company's common shares on the TSX for the six months ending May 31, 2025 was 2,170,836 (the "ADTV"). Purchases under the 2025 NCIB may be made through the facilities of the TSX, other Canadian stock exchanges, the New York Stock Exchange (the "NYSE") and/or alternative trading platforms in Canada and the United States, at prevailing market rates. In accordance with the TSX rules, the Company may purchase up to 542,709 of its common shares on the TSX during any trading day, which represents 25% of the ADTV, subject to the TSX rules permitting block purchases. Subject to certain exceptions for block purchases, the maximum number of common shares which can be purchased per day on the NYSE will be 25% of the average daily trading volume for the four calendar weeks preceding the date of purchase. The 2025 NCIB will provide the Company with the flexibility to acquire common shares in order to return capital to shareholders as part of its overall capital management strategy. In accordance with the requirements of the TSX, because the Company is renewing its normal course issuer bid before the 2024 NCIB expires, the total number of common shares that the Company repurchased under the 2024 NCIB will be deducted from the maximum number of common shares that the Company may purchase under the 2025 NCIB. Accordingly, the Company has obtained TSX approval to purchase up to 25,000,000 common shares under the 2025 NCIB, representing approximately 4.4% of the 563,611,686 common shares issued and outstanding as at June 2, 2025. The 25,000,000 common share maximum includes 14,429,085 common shares already repurchased under the 2024 NCIB and the 10,570,915 common shares that may be repurchased under the 2025 NCIB. Subject to regulatory approval, purchases under the 2025 NCIB may also be made by way of private agreements or share repurchase programs under issuer bid exemption orders issued by securities regulatory authorities. Any purchases made under an exemption order issued by a securities regulatory authority will generally be at a discount to the prevailing market price. The actual number of common shares purchased under the 2025 NCIB, and the timing of such purchases (if any), will be determined by the Company. Any common shares purchased by the Company pursuant to the 2025 NCIB will be cancelled or used in connection with certain equity settled incentive arrangements. The Company has established an automatic repurchase plan with its designated broker in order to facilitate purchases of common shares under the 2025 NCIB. Under the automatic repurchase plan, the Company's designated broker may purchase common shares pursuant to the 2025 NCIB at times when the Company ordinarily would not be active in the market due to its own internal trading blackout periods, insider trading rules or otherwise. Purchases made pursuant to the automatic repurchase plan, if any, will be made by the Company's designated broker based upon the parameters prescribed by the TSX, the NYSE, applicable Canadian and U.S. securities laws and the terms of the written agreement between the Company and its designated broker. The automatic repurchase plan constitutes an "automatic plan" for purposes of applicable Canadian securities legislation and has been pre-cleared by the TSX. Forward-Looking Statements From time to time, the Company makes written or oral forward-looking statements within the meaning of certain securities laws, including the "safe harbour" provisions of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements contained in this news release include statements (i) relating to the 2025 NCIB (including, but not limited to, statements regarding future purchases of common shares under the 2025 NCIB, including under the automatic repurchase plan), (ii) that are predictive in nature or that depend upon or refer to future events or conditions, and (iii) that include words such as "intends", "expects", "will" and similar expressions. The forward-looking statements made in this news release are stated as at June 4, 2025, represent the Company's current expectations, estimates and projections regarding future events and are not historical facts. These statements are not a guarantee of future performance and involve assumptions and risks and uncertainties that are difficult to predict. Some of these assumptions and risks and uncertainties are described further in the Company's management's discussion and analysis for the year ended December 31, 2024 under the heading "Forward-looking Statements", in the risk factors set out in the Company's annual information form for the year ended December 31, 2024 under the heading "Risk Factors", and in the Company's interim management's discussion and analysis for the quarter ended March 31, 2025 under the heading "Risk Management", in the other factors detailed in the Company's annual and interim financial statements and in the Company's other filings with Canadian and U.S. securities regulators, which are available for review at and respectively. Actual results may differ materially from those expressed, implied or forecasted in such forward-looking statements and there is no assurance that any common shares will be purchased under the 2025 NCIB (including under the automatic repurchase plan). The Company does not undertake any obligation to update or revise its forward-looking statements to reflect events or circumstances after the date of this news release or to reflect the occurrence of unanticipated events, except as required by law. 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. Note to editors: All figures in Canadian dollars To contact Sun Life investor relations, please email SOURCE Sun Life Financial Inc.
Cision Canada
15-05-2025
- Business
- Cision Canada
Sun Life Announces 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, May 15, 2025 /CNW/ - Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) ("Sun Life") today announced that it does not intend to exercise its right to redeem its currently outstanding Class A Non-Cumulative Rate Reset Preferred Shares Series 8R (the "Series 8R Shares") nor its currently outstanding Class A Non-Cumulative Floating Rate Preferred Shares Series 9QR (the "Series 9QR Shares") on June 30, 2025. As a result, subject to certain conditions, the holders of Series 8R Shares have the right to convert all or a part of their Series 8R Shares on a one-for-one basis into Series 9QR Shares, and the holders of Series 9QR Shares have the right to convert all or a part of their Series 9QR Shares on a one-for-one basis into Series 8R Shares, in each case on June 30, 2025. Holders of Series 8R Shares who do not exercise their right to convert their Series 8R Shares into Series 9QR Shares on such date will retain their Series 8R Shares, and holders of Series 9QR Shares who do not exercise their right to convert their Series 9QR Shares into Series 8R Shares on such date will retain their Series 9QR Shares. The foregoing conversions are subject to the conditions that: (i) if Sun Life determines that there would be less than one million Series 8R Shares outstanding after June 30, 2025, then all remaining Series 8R Shares will automatically be converted into Series 9QR Shares on a one-for-one basis on June 30, 2025, and (ii) alternatively, if Sun Life determines that there would be less than one million Series 9QR Shares outstanding after June 30, 2025, then all remaining Series 9QR Shares will automatically be converted into Series 8R Shares on a one-for-one basis on June 30, 2025. In either case, Sun Life will give a written notice to that effect to any registered holder affected by the preceding minimums on or before Friday, June 20, 2025. The dividend rate applicable to the Series 8R Shares for the five-year period commencing on June 30, 2025 and ending on June 29, 2030, and the dividend rate applicable to the Series 9QR Shares for the three-month period commencing on June 30, 2025 and ending on September 29, 2025, will be determined on Friday, May 30, 2025 and will be announced in a news release on Friday, May 30, 2025. Beneficial owners of Series 8R Shares and Series 9QR Shares who wish to exercise their right of conversion should communicate as soon as possible with their broker or other nominee and ensure that they follow their instructions in order to ensure that they meet the deadline to exercise such right, which is 5:00 p.m. (ET) on Monday, June 16, 2025. 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 in every fifth year 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
09-05-2025
- Business
- Cision Canada
Sun Life announces election of directors Français
TORONTO, May 9, 2025 /CNW/ - Sun Life Financial Inc. (the "Company") (TSX: SLF) (NYSE: SLF) announced that the 12 nominees listed in the management information circular dated March 14, 2025 were elected as directors of the Company. The detailed results of the vote held yesterday at its annual meeting of common shareholders are set out below. The voting results on all matters voted at the annual meeting of common shareholders will be available on and through Canadian and U.S. securities regulators at and respectively. 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 investor relations, please email
