August 3, 2011 / 9:29 PM / 6 years ago

UPDATE 1-Sun Life Financial profit up sharply

TORONTO, Aug 3 (Reuters) - Sun Life Financial (SLF.TO) said on Wednesday its second-quarter profit rose sharply, due to stronger insurance sales and investment performance.

Canada’s No. 3 insurer said it earned a net C$408 million ($425 million), or 68 Canadian cents a share, in the quarter ended June 30. That compared with a profit of C$72 million, or 13 Canadian cents a share, in the year-before period.

Analysts polled by Thomson Reuters I/B/E/S had expected, on average, a profit of 54 Canadian cents a share.

$1=$0.96 Canadian Reporting by Cameron French; editing by Peter Galloway

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