Sun Life Financial profit falls 25 pct on markets

Wed May 8, 2013 5:30pm EDT
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TORONTO May 8 (Reuters) - Sun Life Financial said on Wednesday its first-quarter profit fell 25 percent, as Canada's No. 3 insurer was hurt by less favorable markets than in the year-before period.

The Toronto-based company earned C$513 million ($511.54 million), or 85 Canadian cents a share, in the quarter ended March 31. That compared with a year-ago profit of C$686 million, or C$1.15 per share.

Equity and bond market movements added C$46 million to profit during the quarter, compared to C$348 million in the year-before quarter, the company said.