Sun Life profit rises on strength in Canada, US (updated)

Sun Life Financial

04/11/2024 22:08

(Adds details about results throughout)
       Nov 4 (Reuters) - Sun Life  SLF.TO  reported a rise in
third-quarter profit on Monday as Canada's second-largest life
insurer benefited from robust growth in its domestic and U.S.
businesses.
        Underlying earnings from Sun Life's Canada business rose
11% in the quarter, while U.S. business saw an 18% jump.
  
        Meanwhile, Sun Life's wealth and asset management posted
underlying earnings of C$474 million, a 4% rise from prior year,
driven by higher fee income.
  
    The company's underlying net income was C$1.02 billion
($733.76 million), or C$1.76 per share, in the three months
ended Sept. 30, compared with C$930 million, or C$1.59 per
share, a year earlier.
        Bigger rival Manulife Financial  MFC.TO  is slated to
report its results on Wednesday.
  

($1 = 1.3901 Canadian dollars)

 (Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Maju
Samuel)
 ((ArasuKannagi.Basil@thomsonreuters.com;))