Sun Life Financial Inc. Q3-2021 Earnings, Price Target Update
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Sun Life Financial Inc.(SLF) is an international financial services organization providing insurance, wealth and asset management solutions to individual and corporate clients. Sun Life has operations in a number of markets worldwide, including Sun Life Financial Inc. trades on the TSX, NYSE and Philippine (PSE) stock exchanges under the ticker symbol SLF. Sun Life provides savings, retirement, and pension products, and life and health insurance to individuals and corporate clients through operations in Canada, US, United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. They also operate mutual fund and investment management businesses, primarily in Canada, U.S. UK and Asia. Revenues include; premiums received on life and health insurance policies and fixed annuity products, investment income earned on assets, fee and other income received for services provided; and realized and unrealized gains (losses) on assets supporting insurance and investment contract liabilities. Revenues also include investment management fees from administrative services only. Deposits received on investment contracts such as segregated funds, mutual funds and managed funds are not included in revenue; however fee income from these products, is included in revenue. Approximately 60% of revenues are from insurance premiums, with the balance split equally between investment income on funds held as insurance reserves and fees on investment products. About 32% of adjusted net income is from Canadian insurance operations, 16% from the US, 35% from asset management, and 16% from Asia.
As of Sept-30-2021, assets were $331M plus $1T of additional assets under management.
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