Sun Life Financial Inc. Maintains Strong Capital, but Q1 2020 Earnings Results Were Affected by Market Volatility
Sun Life Financial Inc. (SLF or the Company) reported net income attributed to common shareholders of $391 million, down significantly from the prior four quarters, mostly due to equity market declines rather than an unfavourable increase in claims activities relating to the Coronavirus Disease (COVID-19). Equity market declines resulted in lower net investment returns on surplus in SLF Canada, as well as losses on the corporate segment's fixed-income seed investments.
Sun Life Financial is a holding company. Through its subsidiaries, Co. is an international financial services organization providing a range of protection and wealth accumulation products and services to individuals and corporate customers in Canada, the U.S., the U.K., Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam and Bermuda. Co. manages its operations in four business segments: Sun Life Financial Canada, Sun Life Financial United States, MFS Investment Management and Sun Life Financial Asia.
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