Charges include $636 million in credit market impacts
Jon Boscia is to become new president; he will be joined by Wesley Thompson and Terrence Mullen
The Toronto-based insurer has $270 million of exposure to the now-failed bank
Sun Life Financial Inc. today revealed that its exposure to troubled insurance giant American International Group Inc. is about US$315 million of bonds.The U.S. government last night agreed to and bail out AIG.Sun Life said it has $88 million of bonds issued by American International Group Inc., the parent holding company, and a further $227 […]
In response to announcement by Lehman Brothers Holdings Inc. of its intent to file a Chapter 11 bankruptcy petition, Sun Life Financial Inc. today announced that it holds $334 million par value of Lehman bond securities and approximately $15 million net value of Lehman derivative instruments.Sun Life Financial holds collateral security under collateral security agreements […]
Sun Life Financial today announced plans to offer its customers and group plan sponsors a number of opportunities to take full advantage of the new Tax-Free Savings Account (TFSA). Starting Jan. 1, 2009, any Canadian resident over age 18 can contribute up to $5,000 each year into a TFSA. Interest is earned tax-free and funds […]
Earnings from Sun Life U.S. drop 47%
Sun Life Financial Inc. announced today the successful completion of a public offering in Canada of $350 million principal amount of Series 2008-2 subordinated unsecured 5.12% fixed/floating debentures due in 2018.Sun Life says the net proceeds will be used for general corporate purposes, including for use within the Sun Life group of companies and for […]
Sun Life Financial Inc. today reported an increase in profit for the first quarter ended March 31, despite tough market conditions and the stronger Canadian dollar.The company reported a quarterly profit of $533 million, or 93¢ a share, up from $497 million, or 86¢ a share, a year earlier.“Difficult capital markets, global credit pressures and […]
Seven new funds added to SunWise Elite lineup