CA - Sun Life Financial Inc. (SLF) Q4 2023 Earnings Call Transcript
2024-02-08 17:02:11 ET
Sun Life Financial Inc. (SLF)
Q4 2023 Earnings Conference Call
February 8, 2024 10:00 AM ET
Company Participants
David Garg - Senior Vice President, Capital Management and Investor Relations
Kevin Strain - President and Chief Executive Officer
Manjit Singh - Executive Vice President and Chief Financial Officer
Daniel Fishbein - President, Sun Life US
Kevin Morrissey - Senior Vice President, Chief Actuary
Randolph Brown - Chief Investment Officer
Stephen Peacher - President, SLC Management
Jacques Goulet - President of Sun Life Canada
Conference Call Participants
Meny Grauman - Scotiabank
Tom MacKinnon - BMO Capital
Gabriel Dechaine - National Bank Financial
Doug Young - Desjardins
Mario Mendonca - TD Securities
Paul Holden - CIBC
Darko Mihelic - RBC Capital Markets
Lemar Persaud - Cormark
Nigel D'Souza - Veritas Investment Research
Presentation
Operator
Good morning, and welcome to the Sun Life Financial Q4 2023 Conference Call. My name is Shree, and I'll be your conference operator today. [Operator Instructions]
The host of the call is David Garg, Senior Vice President, Capital Management and Investor Relations. Please go ahead, Mr. Garg.
David Garg
Thank you, and good morning, everyone. Welcome to Sun Life's Earnings Call for the Fourth Quarter of 2023. Our earnings release and the slides for today's call are available on the Investor Relations section of our website at sunlife.com. We will begin today's call with opening remarks from Kevin Strain, President and Chief Executive Officer. Following Kevin, Manjit Singh, Executive Vice President and Chief Financial Officer, will present the financial results for the quarter. After the prepared remarks, we will move to the question-and-answer portion of the call. Other members of management are also available to answer your questions this morning.
Turning to Slide 2, I draw your attention to the cautionary language regarding the use of forward-looking statements and non-IFRS financial measures, which form part of today's remarks. As noted in the slides, forward-looking statements may be rendered inaccurate by subsequent events.
And with that, I will now turn things over to Kevin.
Kevin Strain
Thanks, David, and good morning, everyone. Turning to Slide 4. We delivered strong performance during the fourth quarter, contributing to strong full year results for 2023. Our results show the strength and resilience of our business mix and the positive impact we're having on our clients. We achieved strong underlying earnings for the quarter of $983 million, up 10% year-over-year. Our strong results were broad-based with strength in Canada, U.S. and SLC management. Underlying ROE of 18.4% this quarter is above our medium-term financial objective of 18% plus, reflecting our strong earnings and disciplined financial management. Further, we maintained a strong capital position with an SLF LICAT ratio of 149%....
Sun Life Financial Inc. (SLF) Q4 2023 Earnings Call Transcript