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TORONTO – Sun Life Financial on Wednesday beat analyst estimates for third-quarter core profit, which rose from a year earlier due to a rise in new business and as assets under management increased from a year earlier.
Underlying profit at Canada’s second-largest life insurer was C$902 million ($728 million), or C$1.54 a share, in the three months ended Sept. 30, from C$842 million, or C$1.44, a year earlier. Analysts had expected C$1.52 Canadian cents.
Reported net income attributable to shareholders climbed to C$1 billion from C$750 million a year earlier.
($1 = 1.2390 Canadian dollars)
(Reporting by Nichola Saminather; editing by Richard Pullin)
