Sun Life Financial Inc. falls as much as 4.3% after accounting changes under IFRS 17 had a greater impact than expected.
- The Canadian insurer hosted a conference call on Tuesday morning to discuss its transition to IFRS 17
- NBC Financial Markets analyst
Gabriel Dechaine said that the impact was “more than expected”- Sun Life saw a book value hit of 15-20% versus Dechaine’s forecast of ~5%
- 2022 EPS would be lower by mid-single digits
- Maintained sector perform rating and C$72 price target
- SLF CN has tumbled 14% this year compared with the S&P TSX Composite Index which fell 2.3% and ...