Sun Life Financial reports loss in third quarter
Toronto – Sun Life Financial Inc. reported a third-quarter loss Wednesday totalling $520 million as it closed the sale of its U.S. annuity business. It turned in a profit or $383 million in the same quarter a year ago. The insurer earned operating net profit from continuing operations of $442 million of 69 cents per share. That compares with an average analyst estimate compiled by Thompson Reuters of 64 cents per share. “We generated another strong quarter of sales growth, with wealth sales up 25 per cent and continued growth in the value of new business,” CEO Dean Connor said in a statement.
Kitchener Record – Thursday Nov. 7 2013
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