Financial results and reports

Financial performance

View the latest quarterly and annual financial information to keep up to date on Sun Life results.

Financial performance

View the latest quarterly and annual financial information to keep up to date on Sun Life results.

Quarterly results

Review financial results for the most recently ended quarter and past quarters.

Quarterly results

Quarterly reports archive

Annual reports

Read about our financial performance and achievements as well as our strategy for the future.

2022 annual report

IFRS 17 Information

Review or download Sun Life documents, presentations, and reference materials regarding the adoption of the IFRS 17 accounting standard.

IFRS 17 Information

Financial highlights1,2

  Q4 2023
Q3 2023 Q4 2022 Full Year 2023 Full Year 2022
Underlying net income ($ millions)3 983 930 892 3,728 3,369
Reported net income ($ millions)4 749 871 1,165 3,086 2,871
Diluted underlying EPS ($)3 1.68 1.59 1.52 6.36 5.75
Diluted reported EPS ($) 1.28 1.48
1.98 5.26 4.89
Underlying ROE3 18.4% 17.7%
17.7% 17.8% 17.0%
Reported ROE3 14.0% 16.6%
23.2% 14.7% 14.5%
SLF Inc. LICAT ratio5 149% 147% 130% 149% 142%6
Assets under management ($ billions)3 1,400 1,340 1,319 1,400 1,319
Number of common shares outstanding (in millions) 584.6 584.3 586.4 584.6 586.4
Dividend per common share ($) 0.78 0.75 0.72 3.00 2.76
Book value per common share ($) 36.51 35.91 34.60 36.51 34.60

1 All numbers are: unaudited, impacted by rounding, and in Canadian dollars, unless otherwise noted.

2 2022 restated results may not be fully representative of our future earnings profile, as we were not managing our asset and liability portfolios under the new standards, IFRS 17 and IFRS 9. For more details, see the heading "Note to Readers: 2022 Restated Results on Adoption of IFRS 17 and IFRS 9" in section A - How We Report Our Results in our Management’s Discussion & Analysis (MD&A) for the period ended December 31, 2023 (2023 Annual MD&A), available at sedarplus.ca.

3 Represents a non-IFRS financial measure. Refer to section M – Non-IFRS Financial Measures in our 2023 Annual MD&A for further information.

4 Reported net income (loss) refers to Common shareholders' net income (loss) determined in accordance with IFRS.

5 Life Insurance Capital Adequacy Test (“LICAT”) ratio of SLF Inc. Our LICAT ratios are calculated in accordance with the OSFI-mandated guideline. OSFI's 2023 LICAT Guideline, effective January 1, 2023, specifies that available capital for LICAT purposes includes Contractual Service Margin ("CSM"). Prior period restatement and resubmissions are not mandated. Pro-forma January 1, 2023 LICAT ratios are disclosed to illustrate transition impact. These pro-forma calculations will not be formally submitted to OSFI.

6 As at January 1, 2023, upon transition to IFRS 17.