Sun Life's quarterly profit misses estimates on U.S. business weakness (updated)

Sun Life Financial

12/02/2025 23:18

(Rewrites paragraph 1, adds estimates in paragraph 4)
       Feb 12 (Reuters) - Sun Life Financial  SLF.TO  reported a fall in its fourth-quarter
profit on Wednesday, as weakness in U.S. business took away gains made in Asian markets. 
    U.S. group sales of $830 million were down 11% from a year ago, reflecting lower dental,
employee benefits and medical stop-loss sales. Dental sales primarily reflected lower Medicaid
sales, the company said. 
    However, Sun Life's business in Asia, a key playground for Canada's biggest life insurance
companies, saw underlying net income grow 22% to $175 million from last year. 
    Canada's second-largest life insurer's earned C$1.68 ($1.17) per share, falling short of the
average estimate of C$1.78 per share, according to data compiled by LSEG. 
    Its bigger peer Manulife Financial  MFC.TO  will report quarterly results next week. 


($1 = 1.4300 Canadian dollars)

 (Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Shilpi Majumdar and Alan Barona)
 ((JaiveerSingh.Shekhawat@thomsonreuters.com))