Canadian insurer Sun Life Financial Inc. reported a rise in third-quarter earnings, beating market expectations, helped by strong growth at its asset management business.
Sun Life reported earnings per share, excluding onetime items, of $1.20 in the third quarter, compared with $1.05 a year ago. Analysts had on average forecast earnings of $1.17, according to IBES data from Refinitiv.
Sun Life Chief Executive Officer Dean Connor said he was bullish about the company’s prospects in the region.
“The year-to-date growth is good and the longer term trend is also looking good,” he said.
Sun Life said its net income, excluding one-off items, rose by 14 per cent to $730-million.