Sun Life Financial Inc. SLF-T -3.03%decrease reported $1.1 billion in net income during the third quarter, down from $1.35-billion during the same period a year earlier.
Earnings for the period ended Sept. 30 worked out to $1.97 per share, down from $2.33 per share a year ago.
The Toronto-based insurer says assets under management reached $1.6-trillion, rising by seven per cent from the same period last year.
The company also raised its common share dividend to 92 cents per share, up from 88 cents per share.
Sun Life CEO Kevin Strain says the company’s latest results reflect strong underlying net income in both Canada and Asia.
But he says U.S. businesses were “challenged.”
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