Sun Life Financial profit falls 12%

TORONTO: Profit at Sun Life Financial fell in the second quarter, due largely to a drop in earnings in the United States, where unfavorable equity markets, interest rates, foreign-exchange movements and credit-related losses on asset sales hurt results.

The life insurer said on Thursday that net income in the three months ended June 30 was C$519 million ($509 million), or 91 Canadian cents a share. That compared with C$590 million, or C$1.02 a share, in the same 2007 period.