May 9 (Reuters) - Insurer Sun Life Financial Inc reported a 1.5 fall in its underlying profit on Tuesday, hurt by weak growth in its U.S market.
Canada’s third-biggest life insurer by assets said its underlying net income fell to C$573 million ($417.7 million), or 93 Canadian per share, in the first quarter ended March 31, from C$582 million, or 95 Canadian cents per share, a year earlier.
Underlying net income excludes the impact of interest rate and equity market movements.
Sun Life’s total assets under management rose 7.8 percent to C$927.28 billion at end of the quarter. ($1 = 1.37 Canadian dollars) (Reporting by Ahmed Farhatha in Bengaluru and Matt Scuffham in Toronto; Editing by Sriraj Kalluvila)