Sun Life Financial Incorporated has announced robust results for the 2025 fiscal year, driven primarily by a significant surge in its Asian operations. The company reported a net income of USD 3.5 billion, representing a 13.9% year-on-year increase, while earnings per share rose 16.9% to USD 6.15. The results reflect effective global business management, disciplined cost control, and strategic expansion in high-growth markets.
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Strong Performance in Asia
In Asia, Sun Life recorded an underlying net income of USD 207 million in the fourth quarter, an 18% increase compared with the same period last year. This growth was largely attributable to a USD 35 million increase in individual protection income, supported by strong sales in core markets, business expansion, positive mortality experience among high-value clients, increased investment returns, and reduced operating costs. However, these gains were partially offset by lower income from joint ventures and adverse credit impacts.
The asset and wealth management segment saw a modest decline of USD 3 million, mainly due to fee reductions associated with the transition of administrative operations to the central eMPF platform in Hong Kong. Nevertheless, reported net income rose to USD 131 million, compared with USD 120 million in the prior year. This improvement was underpinned by higher underlying earnings and the absence of prior-year losses in Vietnam’s bank assurance embedded value. Market-related and accounting impacts, such as interest rate fluctuations, had a minor negative effect. Foreign currency translation reduced underlying net income by USD 2 million and reported net income by USD 1 million.
Sales Growth and Revenue Expansion
Personal insurance sales in Asia surged to USD 894 million, a 49% increase, reflecting broad-based growth across all channels in Hong Kong and higher bancassurance sales in India and Indonesia. A slight decline in high-net-worth broker sales partially tempered the overall growth. Asset and wealth management sales grew 8% to USD 2.0 billion, driven by higher fixed-income and equity fund sales in India, although lower fixed-income sales in the Philippines slightly dampened the increase.
Q4 2025 Financial Summary – Asia
| Segment | Amount (USD) | Year-on-Year Change |
|---|---|---|
| Underlying Net Income | $207m | +18% |
| Reported Net Income | $131m | +$120m |
| Personal Insurance Sales | $894m | +49% |
| Asset & Wealth Management Sales | $2.0b | +8% |
Outlook
Sun Life’s performance highlights its growing footprint in Asia, underscoring the company’s ability to leverage insurance and wealth management opportunities in high-growth markets. The sustained momentum in the region is expected to continue into 2026, reinforcing Sun Life’s global position and strategic ambitions.