Sun Life Financial posts 3rd-quarter profit

Wed Nov 5, 2014 5:37pm EST
 
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TORONTO Nov 5 (Reuters) - Canadian insurer Sun Life Financial reported a third-quarter profit on Wednesday, helped by higher revenue and an 18 percent increase in assets under management.

Sun Life reported net income of C$435 million ($382.01 million), or 71 Canadian cents a share, in the quarter ended Sept. 30, compared with a loss of C$520 million, or 84 Canadian cents a share, a year earlier. Year-earlier results included charges related to the sale of its U.S. annuities business.

The company said operating net income from continuing operations was 76 Canadian cents per share. Analysts had expected an underlying profit of 74 Canadian cents a share.

(U.S. $1 = 1.1387 Canadian dollar) (Reporting by Jeffrey Hodgson)