Prime is Sun Life's third acquisition of an asset manager since January. Once all three close, Sun Life will oversee about C $50 billion in assets for third parties, the company said. Toronto- based Sun Life, Canada's third-largest insurer, said the acquisition of Prime, which has about $13 billion in assets under management, would be in cash, but it did not disclose...
Toronto- based Sun Life did not disclose the value of the deal. Sun Life followed that up last month with the C $560 million acquisition of North American real estate investment manager Bentall Kennedy Group. Prime Advisors, which had about $13 billion in assets under management as of May 31, will operate as a standalone unit of Sun Life Investment Management, Sun...
MUMBAI, March 16- Several Indian life insurance firms are courting private equity investors to boost their capital ahead of potential IPOs, which became more feasible after a new law allowing higher foreign ownership in a sector that last year was worth $50 billion. The law, approved last week, lets insurers including Britain's Prudential PLC, Standard Life and...
March 5- Canadian insurer Sun Life Financial Inc said it expects annual medium-term earnings growth of 8 percent to 10 percent on a per share basis.
Analysts on average had expected Manulife to earn 41 Canadian cents a share. Manulife shares fell 4 percent to C $20.95 in Toronto following the results. The experience factors, as they're referred to in the insurance industry, consisted mainly of increased claims, particularly dental claims in Canada and long-term care claims in the United States, said Steve...
TORONTO, Feb 11- Sun Life Financial reported a lower fourth-quarter profit on Wednesday, but the Canadian insurer said it was on track to exceed its 2015 earnings target. Sun Life reported net income of C $502 million, or 81 Canadian cents a share, in the quarter ended Dec. 31, compared with a profit of C $550 million, or 90 Canadian cents a share, a year earlier.
Talking Squawk, the official "Squawk Box" blog, provides tidbits, insights, and some sarcastic reflections on the WEEK THAT WAS and the WEEK TO COME.
Citigroup has picked AIA as its partner in a deal that allows the insurer's products to be sold through the U.S. bank's network. The FT reports.
The investment bank highlights eight industry themes it describes as "creative destruction" - trends that make it necessary for companies to either "adapt or die."
Already cranky about the Fed, stock traders will be eyeing the Treasury's 10-year note auction Wednesday to see whether it helps drive interest rates higher.
More middle-age workers fear the financial consequences of a critical illness than fear dying from that illness, but few are preparing for that possibility, a survey finds.
Some of the names on the move ahead of the open.
*Debt crises in Europe and U.S. could hit markets. With debt crises in Europe and the United States pressuring stocks and threatening another severe market downturn, analysts say one or more of the insurers could cut profit targets when they start reporting results on Wednesday.
*TD Securities raises Sun Life Financial price target to C $28 from. *TD Securities raises Manulife Financial price target to C $15 from. *TD Securities raises Industrial Alliance price target to C $28 from.
A fresh round of concern over European debt combined with some downbeat news out of the technology sector to send U.S. stocks sharply lower Monday.
What follows is a roundup of corporate earnings reports for Wednesday, May 4.
A phony rally? This is why pros do not like the Dow: As of this writing, the Dow has moved 60 points in the past 45 minutes, it is now up 40 points for the day, but wait a minute: there are 2 stocks declining for every 1 advancing at the NYSE!
Eager to learn if the recent downturn is the start of a larger correction, investors are closely watching the action in bank stocks? Are they starting to crack?
When a company spends millions to put their company name on a major stadium, controversy often follows as the value of such an expenditure is difficult to track.
Every time a company buys naming rights to a stadium, their executives get challenged. Is this really a good deal? Why does it seem like companies who have put their name on stadiums face greater economic trouble than those who pass on the idea?