{"id":1711,"date":"2024-06-24T09:05:16","date_gmt":"2024-06-24T09:05:16","guid":{"rendered":"https:\/\/financeify.ca\/?p=1711"},"modified":"2024-06-24T09:05:16","modified_gmt":"2024-06-24T09:05:16","slug":"sun-lifes-fourth-quarter-net-profit-fell-12","status":"publish","type":"post","link":"https:\/\/financeify.ca\/index.php\/2024\/06\/24\/sun-lifes-fourth-quarter-net-profit-fell-12\/","title":{"rendered":"Sun Life’s fourth quarter net profit fell 12%"},"content":{"rendered":"

<\/p>\n

\n
\n
<\/div>\n<\/figure>\n

Sun Life Financial Inc. says its fourth-quarter 2022 net income was $951 million, down 12% from a year earlier.<\/p>\n

Earnings per share were $1.62, compared to $1.83 in the fourth quarter of 2021.<\/p>\n

Earnings for the full year were $3.1 billion, down 22% from 2021.<\/p>\n

Global insurance sales were $1.8 billion in the fourth quarter, up from $1.6 billion a year earlier.<\/p>\n

In Canada, fourth-quarter insurance sales increased 2% year-over-year to $246 million, with higher sales of large group benefits largely offset by lower sales of total life insurance to individuals, the insurer said in a release.<\/p>\n

Canadian asset sales increased 16% to $6.6 billion in the fourth quarter, driven by higher defined contribution asset sales in group plans, but partially offset by lower individual asset sales.<\/p>\n

As of Dec. 31, Sun Life had $1.33 trillion in assets under management, up from $1.27 trillion in the prior quarter but down from $1.44 trillion year-over-year. The 8% year-over-year decline was partially attributable to client distributions, declines in the value of segregated and managed funds and outflows from segregated and retail funds.<\/p>\n

In the fourth quarter, the company’s net income in its Canadian business segment increased 3% to $367 million.<\/p>\n

The company said the decline in net income was primarily due to an unfavorable market as well as integration costs from its recent acquisition of DentaQuest.<\/p>\n

On February 1, Sun Life sold its sponsored marketplace business (including its affiliate and affinity group business) to Canadian Premier Life Insurance Company.<\/p>\n

<\/p>\n

<\/div>\n
<\/div>\n<\/div>\n
\n
\n
<\/div>\n<\/div>\n
\n
<\/div>\n<\/div>\n
\n
<\/div>\n<\/div>\n<\/div>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Sun Life Financial Inc. says its fourth-quarter 2022 net income was $951 million, down 12% from a year earlier. Earnings per share were $1.62, compared to $1.83 in the fourth quarter of 2021. Earnings for the full year were $3.1 billion, down 22% from 2021. Global insurance sales were $1.8 billion in the fourth quarter, […]<\/p>\n","protected":false},"author":1,"featured_media":1712,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[18],"tags":[920,632,919,591,588,583,679],"class_list":{"0":"post-1711","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-seg-fund-investments","8":"tag-fell","9":"tag-fourth","10":"tag-lifes","11":"tag-net","12":"tag-profit","13":"tag-quarter","14":"tag-sun"},"aioseo_notices":[],"yoast_head":"\nSun Life's fourth quarter net profit fell 12% - Financeify<\/title>\n<meta name=\"description\" content=\"Sun Life Financial Inc. says its fourth-quarter 2022 net income was $951 million, down 12% from a year earlier. Earnings per share were $1.62, compared to\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/financeify.ca\/index.php\/2024\/06\/24\/sun-lifes-fourth-quarter-net-profit-fell-12\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sun Life's fourth quarter net profit fell 12% - Financeify\" \/>\n<meta property=\"og:description\" content=\"Sun Life Financial Inc. says its fourth-quarter 2022 net income was $951 million, down 12% from a year earlier. Earnings per share were $1.62, compared to\" \/>\n<meta property=\"og:url\" content=\"https:\/\/financeify.ca\/index.php\/2024\/06\/24\/sun-lifes-fourth-quarter-net-profit-fell-12\/\" \/>\n<meta property=\"og:site_name\" content=\"Financeify\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-24T09:05:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cdn.pixabay.com\/photo\/2016\/10\/20\/18\/36\/money-1756279_960_720.jpg\" \/>\n<meta name=\"author\" content=\"Admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/cdn.pixabay.com\/photo\/2016\/10\/20\/18\/36\/money-1756279_960_720.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/financeify.ca\/index.php\/2024\/06\/24\/sun-lifes-fourth-quarter-net-profit-fell-12\/\",\"url\":\"https:\/\/financeify.ca\/index.php\/2024\/06\/24\/sun-lifes-fourth-quarter-net-profit-fell-12\/\",\"name\":\"Sun Life's fourth quarter net profit fell 12% - Financeify\",\"isPartOf\":{\"@id\":\"https:\/\/financeify.ca\/#website\"},\"datePublished\":\"2024-06-24T09:05:16+00:00\",\"dateModified\":\"2024-06-24T09:05:16+00:00\",\"author\":{\"@id\":\"https:\/\/financeify.ca\/#\/schema\/person\/bc746a323f2a473fca9860d709ad78c6\"},\"description\":\"Sun Life Financial Inc. says its fourth-quarter 2022 net income was $951 million, down 12% from a year earlier. Earnings per share were $1.62, compared to\",\"breadcrumb\":{\"@id\":\"https:\/\/financeify.ca\/index.php\/2024\/06\/24\/sun-lifes-fourth-quarter-net-profit-fell-12\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/financeify.ca\/index.php\/2024\/06\/24\/sun-lifes-fourth-quarter-net-profit-fell-12\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/financeify.ca\/index.php\/2024\/06\/24\/sun-lifes-fourth-quarter-net-profit-fell-12\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/financeify.ca\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Sun Life’s fourth quarter net profit fell 12%\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/financeify.ca\/#website\",\"url\":\"https:\/\/financeify.ca\/\",\"name\":\"Financeify\",\"description\":\"All About Finance\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/financeify.ca\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/financeify.ca\/#\/schema\/person\/bc746a323f2a473fca9860d709ad78c6\",\"name\":\"Admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/financeify.ca\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/financeify.ca\/wp-content\/uploads\/2023\/11\/artboard-1-e1700877751851.png\",\"contentUrl\":\"https:\/\/financeify.ca\/wp-content\/uploads\/2023\/11\/artboard-1-e1700877751851.png\",\"caption\":\"Admin\"},\"sameAs\":[\"https:\/\/financeify.ca\"],\"url\":\"https:\/\/financeify.ca\/index.php\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Sun Life's fourth quarter net profit fell 12% - Financeify","description":"Sun Life Financial Inc. says its fourth-quarter 2022 net income was $951 million, down 12% from a year earlier. Earnings per share were $1.62, compared to","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/financeify.ca\/index.php\/2024\/06\/24\/sun-lifes-fourth-quarter-net-profit-fell-12\/","og_locale":"en_US","og_type":"article","og_title":"Sun Life's fourth quarter net profit fell 12% - Financeify","og_description":"Sun Life Financial Inc. says its fourth-quarter 2022 net income was $951 million, down 12% from a year earlier. Earnings per share were $1.62, compared to","og_url":"https:\/\/financeify.ca\/index.php\/2024\/06\/24\/sun-lifes-fourth-quarter-net-profit-fell-12\/","og_site_name":"Financeify","article_published_time":"2024-06-24T09:05:16+00:00","og_image":[{"url":"https:\/\/cdn.pixabay.com\/photo\/2016\/10\/20\/18\/36\/money-1756279_960_720.jpg"}],"author":"Admin","twitter_card":"summary_large_image","twitter_image":"https:\/\/cdn.pixabay.com\/photo\/2016\/10\/20\/18\/36\/money-1756279_960_720.jpg","twitter_misc":{"Written by":"Admin","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/financeify.ca\/index.php\/2024\/06\/24\/sun-lifes-fourth-quarter-net-profit-fell-12\/","url":"https:\/\/financeify.ca\/index.php\/2024\/06\/24\/sun-lifes-fourth-quarter-net-profit-fell-12\/","name":"Sun Life's fourth quarter net profit fell 12% - Financeify","isPartOf":{"@id":"https:\/\/financeify.ca\/#website"},"datePublished":"2024-06-24T09:05:16+00:00","dateModified":"2024-06-24T09:05:16+00:00","author":{"@id":"https:\/\/financeify.ca\/#\/schema\/person\/bc746a323f2a473fca9860d709ad78c6"},"description":"Sun Life Financial Inc. says its fourth-quarter 2022 net income was $951 million, down 12% from a year earlier. Earnings per share were $1.62, compared to","breadcrumb":{"@id":"https:\/\/financeify.ca\/index.php\/2024\/06\/24\/sun-lifes-fourth-quarter-net-profit-fell-12\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/financeify.ca\/index.php\/2024\/06\/24\/sun-lifes-fourth-quarter-net-profit-fell-12\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/financeify.ca\/index.php\/2024\/06\/24\/sun-lifes-fourth-quarter-net-profit-fell-12\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/financeify.ca\/"},{"@type":"ListItem","position":2,"name":"Sun Life’s fourth quarter net profit fell 12%"}]},{"@type":"WebSite","@id":"https:\/\/financeify.ca\/#website","url":"https:\/\/financeify.ca\/","name":"Financeify","description":"All About Finance","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/financeify.ca\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/financeify.ca\/#\/schema\/person\/bc746a323f2a473fca9860d709ad78c6","name":"Admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/financeify.ca\/#\/schema\/person\/image\/","url":"https:\/\/financeify.ca\/wp-content\/uploads\/2023\/11\/artboard-1-e1700877751851.png","contentUrl":"https:\/\/financeify.ca\/wp-content\/uploads\/2023\/11\/artboard-1-e1700877751851.png","caption":"Admin"},"sameAs":["https:\/\/financeify.ca"],"url":"https:\/\/financeify.ca\/index.php\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/financeify.ca\/index.php\/wp-json\/wp\/v2\/posts\/1711"}],"collection":[{"href":"https:\/\/financeify.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/financeify.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/financeify.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/financeify.ca\/index.php\/wp-json\/wp\/v2\/comments?post=1711"}],"version-history":[{"count":1,"href":"https:\/\/financeify.ca\/index.php\/wp-json\/wp\/v2\/posts\/1711\/revisions"}],"predecessor-version":[{"id":1713,"href":"https:\/\/financeify.ca\/index.php\/wp-json\/wp\/v2\/posts\/1711\/revisions\/1713"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/financeify.ca\/index.php\/wp-json\/wp\/v2\/media\/1712"}],"wp:attachment":[{"href":"https:\/\/financeify.ca\/index.php\/wp-json\/wp\/v2\/media?parent=1711"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financeify.ca\/index.php\/wp-json\/wp\/v2\/categories?post=1711"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financeify.ca\/index.php\/wp-json\/wp\/v2\/tags?post=1711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}