Sun Life Financial Reaches Settlement in Principle for Class Action Related to MetLife Policies
Sun Life Financial Inc. has reached a settlement in principle to resolve a class action lawsuit related to historic MetLife life insurance policies it inherited through past acquisitions. The settlement, which could cost up to $145 million in Q1 2026 net income, is subject to court approval and would provide up to $213.5 million to eligible policyholders. Sun Life plans to seek full recourse from MetLife under an indemnity agreement.
Topics: class action corporate litigation financial impact insurance policies legal settlement