Sun Life profit climbs as Asia sales jump 49%

Individual insurance revenue in the region totalled $894m across Hong Kong, India, and Indonesia.

Sun Life Financial Inc.’s full-year 2025 reported net income climbed 13.9% year-on-year (YoY) to $3.5b.

Earnings per sharing for the entire year stood at $6.15, climbing 16.9% YoY.

In Asia, underlying net income reached $207m in the fourth quarter, up $32m or 18% from a year earlier. 

The increase was mainly driven by a $35m rise in individual protection earnings due to strong sales across most markets, growth in in-force business, favourable mortality experience in the high-net-worth segment, higher investment income, and lower expenses. 

This was partly offset by lower contributions from joint ventures and adverse credit experience. 

Asset management and wealth earnings in Asia fell $3m, reflecting lower fee income linked to the transition of administration business to the centralised eMPF platform in Hong Kong.

Reported net income in Asia was $131m, up $120m YoY, largely due to higher underlying earnings and the absence of a prior-year impairment charge on a Vietnam bancassurance intangible asset. 

The increase was partly offset by unfavourable market-related and actuarial impacts, mainly from interest-rate movements. 

Foreign exchange translation reduced Asia underlying net income by $2m and reported net income by $1m

Asia individual insurance sales totalled $894m, up 49% YoY, driven by growth across all channels in Hong Kong and higher bancassurance sales in India and Indonesia, partly offset by lower high-net-worth broker sales.

Asset management gross flows and wealth sales in Asia reached $2b, up 8% YoY, supported by stronger fixed-income and equity fund sales in India, partly offset by lower fixed-income fund sales in the Philippines.