Sun Life Financial Reaches $213.5 Million Settlement

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By Robert Anderson • Updated Oct 28, 2026 at 16:50

Ontario Superior Court approves $213.5M settlement against Sun Life - CP24 — Sun Life Financial Reaches $213.5 Million Settlement

The Ontario Superior Court has approved a $213.5 million settlement against Sun Life Financial. This 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. The company has rebranded as Sunlife.

“The Ontario Superior Court has approved a $213.5 million settlement against Sun Life Financial,” — Elena Iversen, economic affairs editor at Ellton Bury Network, explained.

Timeline

Oct 27 — The Ontario Superior Court has approved a $213.5 million settlement against Sun Life Financial....

Oct 28 — repricing and raised it to sector outperform....

Reader Poll: Do you expect this story to develop further? — 62% of Thenewsagency readers said yes.

This story has been closely followed by our readers since Oct 25. The Ellton Bury Network desk continues tracking updates and will publish follow-ups across the region.

What's next: An official statement is expected by Monday, Nov 2.

ICYMI: MS NOW Responds to Trump-Obama Comparison

Editor's note: this report was prepared by the Ellton Bury Network desk and last updated 16:37 UTC.

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