Business Sun Life’s high insurance sales exceed profit projections 2023 SanjhMay 12, 2023May 12, 2023 Sun Life Financial Inc., Canada’s second-largest life insurer, surpassed analyst estimates for first-quarter profit on Thursday, fueled by robust insurance sales in Canada and the United States. As consumers placed a premium on health and financial security, the insurer experienced “strong growth in both health and protection sales,” according to CEO Kevin Strain. As domestic growth has slowed, Sun Life has focused on international expansion, acquiring Denta Quest in the United States and forming a partnership with Dah Sing Bank in the first quarter. Sun Life has added digital tools and new products to its domestic offerings to stimulate growth. The United States and Canada, which account for over 60% of the company’s profits, saw their underlying net income increase by 121% and 53%, respectively. In Asia, the rise was 6%. Sun Life’s results are the result of global market volatility, which has pushed investors towards safe-haven assets, and rising interest rates, which have increased uncertainty. Larger competitor Manulife Financial Corp reported weaker-than-anticipated first-quarter earnings, primarily due to deterioration in its wealth and asset management division. Sun Life’s asset management division’s earnings decreased by 11% due to reduced commissions and broader equity market declines. The fundamental net income increased 24% to C$895 million. According to Refinitiv data, the company earned $1.52 per share, exceeding analysts’ expectations by one cent. Hi, I’m Sanjh All My Articles <span class="nav-subtitle screen-reader-text">Page</span> Previous PostDeveloper pitches Baxter HQ industrial park plan amid opposition 2023Next PostVictorian business owner warns Facebook users over sneaky scam 2023 Related Posts Business Plans And Biographies Lack of enterprise planning is probably one of the reasons... burncapitalNov 8, 2023Nov 13, 2023 The Plan For The Enterprise At the top of the course, college students will be... burncapitalOct 20, 2023Oct 24, 2023 The Finest Place To Order Flowers Is Gurgaon Lbb You don’t need to go wherever to purchase these blooms... burncapitalSep 28, 2023Sep 29, 2023 Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment.