Sun Life reports Q3 net income of $466 million, down 54 per cent from last year
BNN Bloomberg
Sun Life Financial says its profit was down 54 per cent in the third quarter compared with a year earlier due to general market declines, and also recorded a $170 million charge related to its sale of Sun Life UK.
The insurance giant says it had a net income of $466 million in the quarter ending Sept. 30, down from $1.02 billion in the same quarter last year.
Adjusted income, or what Sun Life calls underlying net income, came in at $949 million, up five per cent from $902 million last year.
Net income from the Canadian division was down 47 per cent at $210 million, related largely to interest rate movements and lower equity markets, while U.S. profits were up 104 per cent at $94 million as the company saw fewer COVID-19-related claims among other tailwinds.
With airstrikes still battering Iran and missiles still targeting sites across the Middle East, some of the optimism that sent stocks rallying the day before drained out of Wall Street on Tuesday. Oil prices got back to rising, and U.S. stocks are returning some of their gains.
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Oil prices rise and stocks fall as war with Iran still advances despite Trump’s talk of negotiations
U.S. markets ticked slightly lower and oil prices rose early Tuesday as the war in the Middle East continued a day after U.S. President Donald Trump said the United States had made progress in talks with the Islamic Republic to end the conflict.
U.S. markets ticked slightly lower and oil prices rose early Tuesday as the war in the Middle East continued a day after U.S. President Donald Trump said the United States had made progress in talks with the Islamic Republic to end the conflict.
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It’s that time of the year again, tax time, a time to file your annual return with the Canadian Revenue Agency.
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Stock markets in Canada and the U.S. rallied after President Donald Trump said the United States has talked with Iran about a possible end to the war.
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