Sun Life Financial profit rises on stronger asset management

Wed Aug 6, 2014 5:43pm EDT
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TORONTO Aug 6 (Reuters) - Sun Life Financial, Canada's No. 3 life insurer, said on Wednesday its second-quarter net income rose 6.5 percent, helped by stronger profit at its MFS asset management unit.

Sun life reported net earnings of C$425 million, or 69 Canadian cents a share, in the quarter, up from C$399 million, or 64 Canadian cents a share, a year earlier.

Underlying income, which excludes factors such as market related impact from interest rates and equity markets, was C$499 million, or 81 Canadian cents a share, up from C$373 million, or 62 Canadian cents per share.

That result topped the underlying profit of 72 Canadian cents a share expected by analysts. (Reporting by Cameron French. Editing by Andre Grenon)