Sun Life Financial’s Q1 Earnings Fall 8% From A Year Earlier

Sun Life Financial (SLF) has reported that it earned $858 million in the first quarter of this year,
down 8% from $937 million a year ago.

The Toronto-based insurance company said its earnings per share for the period ended March
31 work out to $1.46, down from $1.59 per share in the same period of 2021.

Sun Life's insurance sales in the quarter amounted to $799 million, up from $730 million in the
prior year's quarter.

For its Canadian business segment, Sun Life Financial reported net income of $263 million,
down 35% from 2021.

The company attributed the earnings decline to changes in interest rates and lower equity
markets, partially offset by an increase in the value of real estate investments.

Sun Life also announced that it will increase its quarterly dividend by $0.03 per share to $0.69 a
share, payable on June 30, to shareholders of record at the close of business on June 1.

Year to date, Sun Life’s stock is down 14% at $61.06 per share.