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Company News

Sun Life quarterly net income rises on lower U.S. tax rate

May 8 (Reuters) - Canadian insurance company Sun Life Financial Inc reported a 34 percent jump in quarterly profit, helped by lower tax rates for its U.S. business.

The company’s underlying net income rose to C$770 million ($594.73 million), or C$1.26 per share, in the first quarter ended March 31, from C$573 million, or 93 Canadian cents per share, a year earlier. ($1 = C$1.2947) (Reporting by Karan Nagarkatti in Bengaluru; Editing by Shounak Dasgupta)

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