HomeInsuranceSun Life reports mixed-bag of financial results in Q2

Sun Life reports mixed-bag of financial results in Q2

In the second quarter, Sun Life’s reported return on equity (ROE) was 13.1%, down from 16.3% in Q2 of 2021. The insurer’s underlying ROE was 14.9%, versus 16.0% last year. Year-to-date, the group’s reported ROE was 13.7%, down from 16.5% last year, and its underlying ROE was 14.5%, down from 15.5%.

The group’s total insurance sales in the quarter were US$736 million, up from US$710 million in the prior year quarter. Year-to-date, insurance sales were US$1,525 million, up from US$1,440 in 2021.

In Canada, Sun Life’s reported net income of US$160 million in Q2, marked a 60% or US$244 million from the prior year quarter. The giant attributed this significant drop to lower equity markets and rising interest rates, partially offset by an increase in underlying net income of US$54 million. Underlying net income in the…

Read more at www.insurancebusinessmag.com

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