Sun Life reported income falls 49.9% to $340m in Q1 2026

Underlying earnings per share stood at C$1.9 in the quarter.

Sun Life’s underlying net income in the first quarter (Q1 2026) marginally increased by 0.48% on a year-on-year (YoY) basis to US$803m (C$1.1b).

Reported net income, however, contracted by 49.9% YoY to US$339.5m (C$465m).

"This quarter we delivered strong growth in our protection businesses led by Asia, Canada and US. Health and Risk Solutions," said Kevin Strain, President and CEO of Sun Life.

The insurer’s Asia segment surged by 13.1% YoY to US$157.7m (C$216m) in Q1 2026, in terms of underlying net income. The group’s underlying earnings per share stood at US$1.39 (C$1.9).

“Strong performance in Asia reflecting business growth in Hong Kong, and Canada from higher fee income driven by higher assets under management,” the company said.

(US$1.00 = C$1.36)