The insurer and asset manager reported stronger earnings, sales and inflows across Canada, Asia and the U.S., with AUM rising to $1,696 billion and reported net income up 41%.
Sun Life Financial Inc. reported second-quarter 2026 underlying net income of $1,123 million, up $108 million or 11% from a year earlier, while reported net income rose to $1,008 million from $716 million. Underlying EPS increased 13% to $2.02 and reported EPS climbed 44% to $1.81, while underlying return on equity reached 19.1% and reported ROE was 17.2%. Assets under management rose 10% to $1,696 billion and Sun Life Financial Inc.'s LICAT ratio, a Canadian insurer capital measure, ended the quarter at 145%. Growth was driven by broad-based strength in Canada, Asia and the U.S. Group insurance sales increased 27% to $680 million, individual insurance sales rose 16% to $1,002 million, and asset management net flows and net wealth sales turned positive at $2,105 million from an outflow of $14,190 million a year earlier. Management also highlighted momentum in alternatives, private credit and digital and AI initiatives. By segment, Sun Life Asset Management posted underlying net income of US$262 million, Canada contributed $427 million, the U.S. earned US$164 million, and Asia delivered $222 million, while Corporate recorded an underlying net loss of $117 million. Reported results were helped by favourable public equity market impacts, improved other market-related impacts, better real estate experience and the absence of a prior-year impairment charge in U.S. Dental. The company also pointed to the July 2, 2026 acquisition of Bell Partners, MFS' ETF expansion, Crescent's fund closings and AI-enabled product and operating initiatives across multiple markets.