Insurer Sun Life Financial Inc reported higher fourth-quarter earnings, driven by growth in its Canadian, Asian and asset management businesses. Net income for the quarter ended December 31 was C$536 million ($384.89 million), or 87 Canadian cents a share, compared with C$502 million, or 81 Canadian cents a share, a year ago. Underlying earnings rose to C$1.05 a share.
Net income at its Canadian unit jumped nearly 80 percent, reflecting some gains from investing activities.
Profit from Asia, where Toronto-based Sun Life has been expanding aggressively, climbed about 18 percent. Earnings at its US business declined.