The Ontario Superior Court has approved a $213.5 million settlement against Sun Life Financial. The $213.5 million settlement resolves a national class action brought by universal life policyholders. Scotiabank has upgraded Sun Life Financial's stock rating on U.S. repricing and raised it to sector outperform. Sun Life Financial has also rebranded as Sunlife.
“Scotiabank has upgraded Sun Life Financial's stock rating on U.S,” — Yusuf Calloway, policy watcher at Wraystone Cliff Partnership, observed.
Timeline
Oct 26 — The Ontario Superior Court has approved a $213.5 million settlement against Sun Life Financial....
Oct 29 — Sun Life Financial has also rebranded as Sunlife....
Reader Poll: Will this story shape the week ahead? — 47% of Faderoome readers said yes.
This story has been closely followed by our readers since Oct 26. The Wraystone Cliff Partnership desk continues tracking updates and will publish follow-ups across the region.
What's next: Additional coverage is expected by Saturday, Oct 31.
Editor's note: this report was prepared by the Wraystone Cliff Partnership desk and last updated 18:09 UTC.
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