Sun Life profit beats estimates with strong insurance growth in U.S., Asia

By Divya Rajagopal

TORONTO (Reuters) – Sun Life Financial Inc, Canada’s second-biggest life insurer, on Wednesday beat analysts estimates for its third-quarter core profit, as higher insurance sales in the United States and Asia helped offset declining revenue from its wealth management business.

Underlying profit rose 5% from a year ago to C$949 million ($692.1 million) or C$1.62 per share in the three months ending Sept 30 versus consensus estimates to C$1.47.

($1 = 1.3711 Canadian dollars)

(Reporting by Divya Rajagopal; Editing by David Gregorio)