Filed Under:Markets, Company News

Sun Life Financial reports 3Q loss

Global Post

The City of Toronto, where Sun Life is based.
The City of Toronto, where Sun Life is based.

TORONTO - Sun Life Financial Inc. (TSX:SLF) reported a loss Wednesday totaling $520 million in its latest quarter as it wrote down and closed the sale of its U.S. annuity business.

The insurer said the loss amounted to 84 cents per diluted share and compared with a profit of $383 million, or 64 cents per share, a year ago.

Included in the results was a $674-million loss on the sale of the U.S. annuity business and another $230 million due to assumption changes and management actions related to the deal.

Excluding that business, the insurer said it earned an operating net profit from continuing operations of $422 million or 69 cents per diluted share for the quarter, compared with $459 million or 77 cents per share a year ago.

The average analyst estimate compiled by Thomson Reuters had been for an adjusted profit of 64 cents per share.

For complete article, click here.

See also:

Featured Video

Most Recent Videos

Behind the scenes with Vicki Gunvalson [VIDEO]

Provided by LIFEHEALTHPRO

In this exclusive interview, Vicki Gunvalson shares how she built a $15 million a year annuity business by planning for...

Regulator: Market may need to reinvent LTCI

Provided by LIFEHEALTHPRO

Cioppa says Maine's governor wants to spur the creation of better products.

Dementia: It's more than Alzheimer's

Provided by LIFEHEALTHPRO

An association calls for policymakers to remember lesser-known neurodegenerative conditions.

Protesters Disrupt WellPoint Annual Meeting

Provided by LIFEHEALTHPRO

Hecklers call for more disclosures of information about political contributions.

Related resources

More Resources

Comments

Power your business with up-to-the-minute insurance news, analysis, and best practices from LifeHealthPro Daily eNewsletter – FREE.

Power your business with LifeHealthPro Daily eNewsletter – FREE.

Enter a valid email address.
Close
Nichole Morford

Nichole Morford
Managing Editor

Thank you for subscribing to LifeHealthPro Daily!

Check Out More eNewsletters Now! Close

Advertisement. Closing in 15 seconds.