Sun Life swings to 3rd-quarter profit on investment results

Wed Nov 7, 2012 5:29pm EST
 
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TORONTO Nov 7 (Reuters) - Sun Life Financial swung back to a third-quarter profit due to better results from the insurer's investments, it said on Wednesday.

Sun Life, Canada's No. 3 life insurer, earned a net C$383 million ($384.63 million), or 64 Canadian cents a share, in the third quarter ended Sept 30.

That compared to a year-earlier loss of C$621 million, or C$1.07 a share, a year earlier, when the company's results were derailed by the impact of weak markets.

Analysts on average had expected a net profit of 63 Canadian cents a share, according to Thomson Reuters I/B/E/S.