Canada's Sun Life Financial profit slumps 34 pct

Wed Aug 10, 2016 5:21pm EDT
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Aug 10 (Reuters) - Canadian insurer Sun Life Financial reported a near 34 percent drop in quarterly profit, hurt by volatile equity markets following the Brexit vote and low interest rates.

Sun Life's net income fell to C$480 million ($368 million), or 78 Canadian cents per share, in the second quarter ended June 30, from C$726 million, or C$1.18 per share, a year earlier.

The company's underlying net income, which excludes the impact of interest rates and equity market movements, fell to C$554 million, or 90 Canadian cents per share, from C$615 million, or C$1 per share. ($1 = C$1.3050) (Reporting by Matt Scuffham in Toronto and Arathy S Nair in Bangalore; Editing by Savio D'Souza)