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

© Reuters. FILE PHOTO: The Sun Life Financial logo is seen at their corporate headquarters of One York Street in Toronto, Ontario, Canada, February 11, 2019. REUTERS/Chris Helgren
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By Divya Rajagopal

TORONTO (Reuters) – Sun Life Financial (NYSE:) 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)

Story Credit: investing.com

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