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Sun Life Financial’s 86% Stop-Loss Sales Surge — Can U.S. Growth Become A Bigger Earnings Engine?

Sun Life Financial reported strong second quarter 2026 results, driven by broad-based growth across Canada, Asia, and the U.S., as well as continued momentum in its Asset Management segment. The company delivered underlying net income of $1.12 billion, up from $1.02 billion year-over-year, and underlying earnings per share grew 13% to $2.02. Underlying return on equity was 19.1%, nearing the company’s medium-term target of 20%. Reported net income was $1.01 billion, notably higher than the prior-year period due to fewer impairments and favorable market impacts. The Canadian business posted record earnings of $427 million, supported by favorable insurance experience, wealth growth, and strong asset management inflows. Wealth assets under management reached $286 billion, an 18% increase from the prior year, reflecting strong defined contribution sales and market performance.