Sun Life Financial rebounds to profit in fourth quarter

Wed Feb 13, 2013 5:20pm EST
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TORONTO Feb 13 (Reuters) - Sun Life Financial, Canada's No. 3 insurer, said on Wednesday it rebounded to a fourth-quarter profit from a year-before loss, helped by strong performance from investments.

The Toronto-based company earned C$395 million ($394.03 million), or 65 Canadian cents a share, in the quarter ended Dec. 31. That compared with a year-before loss of C$525 million, or 90 Canadian cents a share, which was due to an accounting charge.

On an operating basis, Sun Life earned 76 Canadian cents a share. Analysts had expected a profit of 63 Canadian cents a share, according to Thomson I/B/E/S.