Sun Life Q1 Profit Rises on Asia Business Strength
Sun Life reported underlying net income of C$1.89 per share as its Asia business grew 17%. Strong sales in Hong Kong and Canada drove the quarterly growth.
SUN LIFE FINANCIAL INC reported underlying net income of C$1.89 per share for the first quarter, beating the C$1.82 earned a year earlier. The insurer benefited from a 17% profit surge in its Asia division and steady growth in its domestic protection business. The results validate a long-term pivot toward high-growth Asian markets to diversify revenue away from mature North American segments.
### Asia Leads Growth Momentum Underlying net income from the Asia business climbed to C$216 million during the quarter ended March 31. This expansion was fueled by increased sales momentum and growth in existing policies in Hong Kong.
