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Bloomberg

Sun Life Fourth-Quarter Earnings More Than Double

By Sean B. Pasternak

(Bloomberg) -- Sun Life Financial Inc., Canada’s third-largest insurer, said earned more than doubled as stock markets bounced back.

Outcomes benefited from rising equity markets during the last 3 months of 2009, including a 3.1% rise in the benchmark Standard & Poor’s or Toronto Stock Exchange Composite Index. Manulife Financial Corp. and Great-West Lifeco Inc., Canada’s 2 biggest insurers, plan to report 4th quarter results later today.

Chief Executive Officer Donald Stewart said “Our plan of diversifying across products, distribution and geographies and a strong focus on risk management has allowed us to develop and build on earnings through a difficult period for the financial-services industry,” Sun Life rose 54˘ to C$31.36 in trading yesterday on the Toronto Stock Exchange. The shares gained 3.7% this year through yesterday, the best-performing stock on the 6 company S&P/TSX Life & Health Insurance Index.

VIA Business Week

Keyword: Health Insurance

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