Sun Life Financial 4Q Profit Falls Despite Surge in Individual Protection Sales
Provided by
Dow Jones
By Ben Glickman
Sun Life Financial's profit fell in the fourth quarter despite higher sales in individual protection.
The Toronto-based insurance company on Wednesday posted a profit of 749 million Canadian dollars ($556.3 million), or C$1.28 a share, in the quarter ended Dec. 31, compared with C$1.17 million, or C$1.98 a share, a year earlier. Analysts polled by FactSet expected per-share earnings of C$1.55.
The company's underlying net income, an adjusted metric, increased 10% in the quarter.
Underlying net income in individual protection was up 23%, while group health and protection was up 14%.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
February 07, 2024 17:37 ET (22:37 GMT)
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