Sun Life Financial takes net loss on U.S. annuities sale

Wed Nov 6, 2013 5:29pm EST
 
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TORONTO Nov 6 (Reuters) - Sun Life Financial, Canada's No. 3 life insurer, said on Wednesday it fell to a third-quarter net loss due to charges related to the sale earlier this year of its U.S. annuities business.

Sun Life lost a net C$520 million ($499.30 million), or 84 Canadian cents a share, in the quarter, compared with a year-before profit of C$383 million, or 64 Canadian cents per share.

Its operating income from continuing operations, which excludes the impact of the annuities sale among other things, was C$422 million, or 69 Canadian cents a share.