October 21, 2008 / 11:15 AM / 10 years ago

CORRECTED - CORRECTED-UPDATE 1-Sun Life Financial swings to loss in Q3

(Corrects second paragraph to show that year-ago earnings per share was C$1.00 and not C$1.71)

* Sun Life Financial Q3 loss C$0.71

* Q3 profit of C$1.00, excluding items

* Reuters Estimates C$0.77

* Results include C$636 million credit market impact

(Recasts, adds details)

Oct 21 (Reuters) - Canadian insurer, Sun Life Financial Inc (SLF.TO) (SLF.N) swung to a third-quarter loss hurt by credit-related losses and a decline in equity markets. The company reported quarterly net loss of C$396 million ($331.1 million), or C$0.71 a share, compared with net income of C$577 million or C$1.00 in the year ago quarter. Excluding the capital market impacts, the company earned C$1.00 a share.

Analysts expected the company to earn C$0.77 a share, excluding items, according to Reuters Estimates.

Results for the quarter included credit market impacts of C$636 million ($531.8 million), the company said in a statement.

“Unprecedented events in the global financial sector characterized the third quarter and significantly impacted our results,” the company said.

$1=1.196 Canadian Dollar Reporting by Sweta Singh in Bangalore, Editing by Dinesh Nair

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