Sun Life's Q2 2020 Results Affected by Financial Market Volatility and Weaker Insurance Sales
Sun Life Financial Inc. reported net income attributed to common shareholders of $519 million, a decrease of 13% from Q2 2019 largely as a result of market-related impacts from the decline in interest rates and real estate fair values, partially offset by equity market gains during the quarter. Underlying net income for the quarter was unchanged from a year ago at $739 million.
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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