Sun Life reports rare earnings miss as US business shows weakness

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What's different a year after the wildfires? | SaltWire #novascotia #firefighting #wildfires #news -Canada's No. 2 life insurer Sun Life Financial on Thursday missed core profit estimates for the first time in 12 quarters, hurt by weakness in the U.S., a region where it has been expanding.

However, earnings in the U.S. were hurt by lower dental results driven by the impact of Medicaid redeterminations and market-related impacts largely from real estate investments, the company said. The overall results were in contrast with bigger peer Manulife which reported bigger-than-expected profit powered by strength in its Asia unit that pushed its stock to over a 15-year high.

 

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