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Sun Life Financial Inc. Message Board

  • bluecheese4u bluecheese4u Nov 10, 2012 9:51 AM Flag

    Sun Life Financial Reports Third Quarter 2012 Results

    Sun Life Financial Reports Third Quarter 2012 Results

    The information contained in this document concerning the third quarter of 2012 is based on our unaudited interim financial results for the period ended September 30, 2012. All amounts are in Canadian dollars unless otherwise noted.

    Third Quarter 2012 Financial Highlights

    • Operating net income(1) of $401 million, compared to an operating loss of $572 million in the third quarter of 2011. Reported net income of $383 million, compared to a reported loss of $621 million in the same period last year. Results reflect the positive impact of management actions, which contributed $46 million to net income, partially offset by assumption changes of $(41) million. Market factors had no material impact in the quarter

    • Operating earnings per share(1) (“EPS”) of $0.68, compared to an operating loss per share of $0.99 in the third quarter of 2011. Reported EPS of $0.64, compared to a reported loss per share of $1.07 in the same period last year

    • Operating return on equity(1) (“ROE”) of 11.6%, compared to negative 16.0% in the same period last year. Reported ROE of 11.1%, compared to negative 17.4% in the third quarter of 2011

    • Quarterly dividend of $0.36 per share

    • MCCSR ratio for Sun Life Assurance(2) of 213%

    TORONTO (November 7, 2012) – Sun Life Financial Inc.(3) (TSX: SLF) (NYSE: SLF) had operating net income of $401 million in the third quarter of 2012, compared to an operating loss of $572 million in the third quarter of 2011. Our operating EPS was $0.68 in the third quarter of 2012, compared to an operating loss per share of $0.99 in the third quarter of 2011. Reported net income was $383 million or $0.64 per share in the third quarter of 2012, compared to a reported loss of $621 million or a reported loss per share of $1.07 in the same period last year.

    Our financial results in the third quarter reflect continued execution against our growth strategy, aided by management actions to improve the underlying profitability of our businesses. Market factors had no material impact in the quarter, as the positive impact of improved equity markets was largely offset by declines in the fixed income reinvestment rates in our insurance contract liabilities, which were driven by the continued low interest rate environment, and unfavourable impact from credit spread movements. Operating net income excluding the net impact of market factors(1) was $405 million. The following table sets out our operating net income measures for the third quarter of 2012.

    secDOTgov/Archives/edgar/data/1097362/000119312512460033/d432900dex991.htm

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    Analyst Estimates
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