Sun Life Financial Inc (SLF) News & EventsSLFSun Life Financial Inc

Sun Life and Wilton Re Form Strategic Partnership

Sun Life Financial and Wilton Re have entered into a definitive agreement to establish a strategic reinsurance and asset management partnership. Wilton Re will establish Windsor Life Re, a U.S. and Bermuda-domiciled reinsurer supporting growth of Wilton Re's core in-force life and annuity block origination in the U.S. SLC Management will be the lead asset manager for Windsor Life Re's investments. The partnership is expected to deploy approximately $900M of capital, anchored by strategic capital commitments from Sun Life and Wilton Re, each contributing approximately one-third of the total equity capitalization. Windsor Life Re will reinsure from Wilton Re an initial in-force block of approximately $1.7B. Future business will be ceded by Wilton Re on a quota share basis. At scale, Windsor Life Re is anticipated to grow to approximately $10B in assets. The new partnership is expected to launch in the first half of 2027 subject to the parties obtaining required regulatory approvals and the satisfaction of customary closing conditions.

Scott Powers to Retire as Chair of Sun Life Financial Board

Sun Life Financial announced that Scott Powers will retire as chair and from its Board of Directors upon completing his full term of service following the company's annual meeting on May 5, 2027. Upon his re-election at the annual meeting, Joseph Natale will succeed Powers as chair. Natale has been a Sun Life director since February 2023 and currently chairs the Management Resource Committee and is a member of the Risk Committee.

Sun Life Reports Double-Digit Net Income Growth in Q2

"Sun Life delivered a strong second quarter, reflecting the resilience of our diversified business and the discipline of our execution," said Kevin Strain, President and CEO of Sun Life. "We saw strong momentum across our health and individual protection businesses, with group insurance sales up 27% and individual insurance sales up 16%. In asset management and wealth, we continued to build momentum in alternatives, private credit and product innovation, contributing $2.1 billion of net inflows and wealth sales in the quarter. These results delivered double-digit underlying net income growth and an underlying ROE of 19.1% for the quarter. With our strong capital position and continued investment in innovation, we are well positioned to deliver sustainable value for Clients and shareholders."