Compelo Insurance is using cookies

We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.

ContinueLearn More
Close
Dismiss

Sun Life Financial Q4 net income rises

Canadian insurer Sun Life Financial (SLF) has reported a net income of C$508m, or C$0.88 per diluted share, for the fourth quarter of 2010, compared to C$296m, or C$0.52 per diluted share, for the same period of 2009.

Net income was favorably impacted by C$181m from improvements in equity markets and C$113m from increased interest rates.

Revenues for the fourth quarter of 2010 were C$4bn, compared to C$4.9bn for the same period a year ago.

SLF Canada had net income of C$182m in the fourth quarter of 2010, compared to C$243m for the corresponding quarter of 2009.

SLF US had net income of C$267m in the fourth quarter of 2010, compared to net loss of C$9m in the fourth quarter of 2009.

MFS, the US-based asset management unit, posted net income of C$57m for the fourth quarter of 2010, compared to C$49m for the same period last year.

Fourth quarter 2010, net income for SLF Asia were C$28m, compared C$27m in the fourth quarter of 2009.

For the year 2010, net income was C$1.58bn, compared to C$534m in 2009. Results included C$173m related to improvements in equity markets, the favorable impact of asset liability re-balancing and the favorable impact of the Lincoln UK acquisition in the fourth quarter of 2009.

For the year 2010, revenues were C$24.6bn, compared to C$27.57bn in the year 2009.