Sun Life Financial posts $1.1b in Q1 2025 underlying net income

The quarter’s performance was also driven by Asia’s performance.

Sun Life Financial Inc. reported underlying net income of $1.045b for the first quarter ended March 31, 2025, marking a 19% increase year-on-year (YoY). 

President and CEO Kevin Strain cited strong growth across all business lines, driven by client demand, capital raising at SLC Management, and robust performance in Asia. 

The underlying return on equity rose to 17.7%. Reported net income grew 13% YoY to $928m, with a reported ROE of 15.7%.

All major business segments posted growth in underlying net income. The asset management and wealth division earned $487m, up 19%, whilst the group health and protection segment recorded $330m, an 18% increase. 

The company raised its quarterly common share dividend from $0.84 to $0.88 per share.