The Globe and Mail reports in its Thursday, Aug. 10, edition that Sun Life Financial surpassed profit expectations. The Globe's Clare O'Hara writes that Sun Life reported its second quarter "underlying" net income of $920-million or $1.57 a share, up from $808-million or $1.38 in 2022's second quarter. Sun Life emphasizes "underlying net income," a version of earnings that strip out investment losses and make other accounting adjustments. Sun Life reported a 14-per-cent jump in adjusted earnings, which chief executive officer Kevin Strain said was driven by stronger insurance sales in Asia and good "momentum" from several acquisitions and partnerships made over the past year. The insurer also announced plans on Tuesday to buy back 17 million shares, or about 2.9 per cent of its common shares outstanding, in the coming year, pending regulatory approval. It is Sun Life's first buyback announcement since 2019. With about $2-billion currently sitting in cash reserves -- and growing -- analysts continue to inquire about Mr. Strain's next big move. Over the past two years, Mr. Strain has completed more than eight deals across the globe. He says he is staying focused on "the capital we have already deployed."