Sun Life Financial Inc.
) reported second-quarter operating net income from continuing
operations of $531.9 million (C$488 million) compared with $440.9
million (C$431 million) in the year-ago quarter.
Results reflect consistent growth in assets under management and
gains from investing activities.
Total premium and deposits were $31.5 billion (C$28.9 billion),
down 15.3% year over year.
Adjusted revenues (adjusted for premiums and deposits for the
impact of constant currency adjustment; and reinsurance in SLF
Canada's GB operations adjustment) of Sun Life Financial were $6.2
billion (C$5.7 billion), up 3.4% year over year. The increase was
due to higher net investment income as well as higher fee income.
During the quarter,
reported operating income of $214.7 million (C$197 million), down
6.2% year over year.
recorded operating income of $92 million, down 24.6% year over
MFS Investment Management
reported operating net income of $133 million, up 32% year over
year, driven primarily by higher average net assets under
reported operating income of $40.3 million (C$37.0 million), down
19.6% year over year.
Sun Life Financial recorded operating return on equity of 12.6%
compared with 12.8% in the year-ago quarter.
Assets under management were up 16% year over year to $729.8
billion (C$684 billion) due to favorable markets, stronger sales
and the positive impact of currency movements.
Sun Life Assurance's MCCSR ratio was 222% as of Jun 30, 2014,
compared to 219% as of Dec 31, 2013.
Sun Life Financial presently carries a Zacks Rank #3 (Hold).
Other Stocks to Consider
Other life insurance stocks, like Prudential Financial Inc. (
), Protective Life Corp. (
) and Lincoln National Corporation (
), reported favorable second-quarter earnings, beating the Zacks
Consensus Estimate by 14, 11 and 10 cents, respectively.
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LINCOLN NATL-IN (LNC): Free Stock Analysis
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SUN LIFE FINL (SLF): Free Stock Analysis Report
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