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Sun Life Reports Higher Second Quarter Net Income

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NU Online News Service, July 25, 7:25 p.m. – Sun Life Financial Services of Canada Inc., Toronto, is reporting net income of $139 million in U.S. currency for the second quarter on $2.6 billion in revenue, up from $130 million in net income on $2.7 billion in revenue for the second quarter of 2000.

The U.S. life and annuity operations earned only $18 million, about half of what they earned in the second quarter of 2000, because of weakness in retirement services earnings and a small loss on the investment portfolio, but the individual life and group life and health units turned in higher earnings, the company says.


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