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Sun Life Financial Inc. Message Board

  • bluecheese4u bluecheese4u Feb 13, 2013 9:55 PM Flag

    Sun Life Financial Reports Fourth Quarter and Full Year 2012 Results

     

    Sun Life Financial Reports Fourth Quarter and Full Year 2012 Results

    Unless otherwise noted, all amounts are in Canadian dollars.
    Fourth Quarter 2012 Financial Highlights
    • Operating net income(1) of $453 million, compared to an operating loss of $221 million in the fourth quarter of 2011. Reported net income of $395 million, compared to a reported loss of $525 million in the fourth quarter of 2011. Results reflect continued execution against our growth strategy and positive impact from investment activity. Market factors had no material impact in the quarter
    • Operating earnings per share(1) ("EPS") of $0.76, compared to an operating loss per share of $0.38 in the fourth quarter of 2011. Reported EPS of $0.65, compared to a reported loss per share of $0.90 in the fourth quarter of 2011 (1)
    • Operating return on equity (“ROE”) of 12.9%, compared to a negative 6.5% in the fourth quarter of 2011. Reported ROE of 11.3%, compared to negative 15.4% in the fourth quarter of 2011
    • Quarterly dividend of $0.36 per share
    • MCCSR ratio for Sun Life Assurance(2) of 209%
    2012 Annual Financial Highlights
    • Operating net income of $1,679 million, compared to operating net income of $34 million in 2011. Reported net income of $1,554 million, compared to a reported loss of $370 million in 2011
    • Operating EPS of $2.83, compared to operating EPS of $0.06 in 2011. Reported EPS of $2.59, compared to a reported loss per share of $0.64 in 2011
    • Operating ROE of 12.3%, compared to 0.3% in 2011. Reported ROE of 11.4%, compared to negative 2.7% in 2011
    • Annual dividend of $1.44 per share

    TORONTO - (February 13, 2013) - Sun Life Financial Inc.(3) (TSX: SLF) (NYSE: SLF) had operating net income of $453 million in the fourth quarter of 2012, compared to an operating loss of $221 million in the fourth quarter of 2011. Our operating EPS was $0.76 in the fourth quarter of 2012, compared to an operating loss per share of $0.38 in the fourth quarter of 2011. Reported net income was $395 million or $0.65 per share in the fourth quarter of 2012, compared to a reported loss of $525 million or a reported loss per share of $0.90 in the fourth quarter of 2011.
    Our financial results in the fourth quarter reflect continued execution against our growth strategy, as well as positive impact from investment activity. 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 and swap spread movements. Operating net income excluding the net impact of market factors(1) was $420 million. The following table sets out our operating net income measures for the fourth quarter of 2012.
    (1) Operating net income (loss) and financial information based on operating net income (loss), such as operating earnings (loss) per share, operating ROE and operating net income (loss) excluding the net impact of market factors, are not based on International Financial Reporting
    (2) Standards ("IFRS"). See Use of Non-IFRS Financial Measures. All EPS measures refer to fully diluted EPS, unless otherwise stated. MCCSR represents the Minimum Continuing Capital and Surplus Requirements (“MCCSR”) ratio of Sun Life Assurance Company of Canada
    (3) (“Sun Life Assurance”).
    Together with its subsidiaries and joint ventures, collectively referred to as “the Company”, “Sun Life Financial”, “we”, “our” and “us”.

    cdnDOTsunlifeDOTcom/static/global/files/News%20Releases%202013%20PDFs/Q412_earnings_130213_en.pdf

    Supplementary Financial Information

    cdnDOTsunlifeDOTcom/static/global/files/Quarterly%20reports/pa_e_Q412_FinSupp.pdf

    Slides
    cdnDOTsunlifeDOTcom/static/global/files/Quarterly%20reports/pa_e_Q412_presentation.pdf

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