Sun Life Overcomes Weak U.S. Dollar

At home, Sun Life is reporting 366 million Canadian dollars in net income on 5.5 billion Canadian dollars in revenue, compared with 343 Canadian dollars in net income on 5.8 billion Canadian dollars in revenue for the first quarter of 2003.

In the United States, individual life insurance and group life and health profits were down, but net income from annuities increased to $50 million, from $32 million, Sun Life says.

The conversions here use an exchange rate of $1=0.76447 Canadian dollars for the 2004 results and an exchange rate of $1=0.67953 Canadian dollars for the 2003 results. The exchange rates come from Oanda Corp., New York.