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 Reports Q3 Results

Reported a net loss of $140m for the third quarter of 2009

Sun Life Financial has reported a net loss of $140m for the third quarter of 2009, compared with a net loss of $396m in the same period last year.

The diluted loss per share was $0.25 compared to a diluted loss per share of $0.71 in the third quarter of 2008. Return on equity was negative 3.5% for the third quarter of 2009.

Sun Life Financial has reported a net loss attributable to common shareholders of $140m for the quarter ended September 30, 2009, compared with a net loss of $396m in the third quarter of 2008.

The results last year also included earnings of $31m or $0.06 per share from the company’s 37% ownership interest in CI Financial. The common shareholders’ net income for the first nine months of 2009 was $238m, compared to $656m in the same period in 2008. The operating earnings for the first nine months of 2009 were $265m, compared to $656m in the first nine months of 2008.

Donald Stewart, CEO of Sun Life Financial, said: There is underlying strength in our business but we continue to face challenging economic headwinds. Our Canadian business reflects a strong brand and distribution, our US business continues to benefit from enhanced distribution and strong annuity sales, and we are well positioned in our international markets.