(Adds Q4 details)
Feb 15 Sun Life Financial Inc,,
Canada's third-largest insurer by assets, reported a 13.3
percent fall in quarterly underlying profit, hurt by weakness in
the United States.
The company's underlying net income fell to C$560 million
($428 million), or 91 Canadian cents per share, in the fourth
quarter ended Dec. 31, from C$646 million, or C$1.05 per share,
a year earlier.
Sun Life's underlying net income fell 9.7 percent in Canada,
the company's biggest market, while it plunged 45 percent in the
The Toronto-based company's net income rose 35.8 percent to
C$728 million, or C$1.18 per share.
Total wealth sales rose 29.1 percent and life and health
sales jumped 39.6 percent.
Sun Life's total assets under management rose 1.3 percent to
C$903.3 billion at the end of the quarter.
Manulife Financial Corp, Canada's biggest life
insurer, last week reported a higher-than-expected quarterly
profit and met a long-held target to achieve an annual profit of
C$4 billion in 2016, helped by a strong performance in Asia.
(Reporting by Komal Khettry and Diptendu Lahiri in Bengaluru;
Editing by Maju Samuel)