(Adds details, analysts' estimates)
Aug 5 (Reuters) - Canadian insurer Sun Life Financial Inc
SLF.TO reported a quarterly profit that breezed past analysts
estimates, driven by growth in all its businesses and a weaker
Canadian dollar.
Reported net income in the company's Canadian business, its
biggest, rose 78 percent to C$337 million in the second quarter
ended June 30.
Sun Life, which has a growing presence in Asia, said net
income and operating net income in the region more than doubled
to C$93 million.
A weak Canadian dollar boosted the company's operating net
income in its international businesses.
The Toronto-based company's operating net income rose to
C$731 million ($554.8 million), or C$1.19 per share, from C$488
million, or 80 Canadian cents per share, a year earlier.
ID:nCNW25sxTa
Sun Life's total wealth sales rose 25 percent to C$31.9
million during the quarter, while insurance sales increased 8
percent.
Underlying profit rose to C$1 per share from 81 Canadian
cents, while analysts had expected 81 Canadian cents, according
to Thomson Reuters I/B/E/S.
Sun Life, which owns U.S. investment manager MFS, said last
month it would acquire real estate investment manager Bentall
Kennedy Group for C$560 million to broaden its asset management
business.
The company's total assets under management fell to C$808.08
billion at end of June 30 from C$812.56 billion at end of March.
Up to Wednesday's close of C$42.84, Sun Life's shares had
risen 4 percent over the past 12 months, compared with the about
5 percent rise in the S&P TSX life & health insurance index
.GTSX40301020 .
($1 = C$1.32)