February 12, 2020 / 10:19 PM / 11 days ago

Sun Life posts 10% rise in quarterly profit

FILE PHOTO: The Sun Life Financial logo is seen at their corporate headquarters of One York Street in Toronto, Ontario, Canada, February 11, 2019. REUTERS/Chris Helgren

(Reuters) - Canadian insurer Sun Life Financial Inc (SLF.TO) posted a 10.3% rise in quarterly profit, helped by strength in its asset management unit.

Underlying net income, which excludes one-time items, rose to C$792 million ($597.03 million), or C$1.34 per share, in the fourth quarter ended Dec. 31, from C$718 million, or C$1.19 per share, a year earlier.

Reporting by Abhishek Manikandan in Bengaluru; Editing by Shailesh Kuber

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