Canadian insurer Sun Life Financial (SLF) has reported a net income of C$508m, or C$0.88 per diluted share, for the fourth quarter of 2010, compared to C$296m, or C$0.52 per diluted share, for the same period of 2009.
Net income was favorably impacted by C$181m from improvements in equity markets and C$113m from increased interest rates.
Revenues for the fourth quarter of 2010 were C$4bn, compared to C$4.9bn for the same period a year ago.
SLF Canada had net income of C$182m in the fourth quarter of 2010, compared to C$243m for the corresponding quarter of 2009.
SLF US had net income of C$267m in the fourth quarter of 2010, compared to net loss of C$9m in the fourth quarter of 2009.
MFS, the US-based asset management unit, posted net income of C$57m for the fourth quarter of 2010, compared to C$49m for the same period last year.
Fourth quarter 2010, net income for SLF Asia were C$28m, compared C$27m in the fourth quarter of 2009.
For the year 2010, net income was C$1.58bn, compared to C$534m in 2009. Results included C$173m related to improvements in equity markets, the favorable impact of asset liability re-balancing and the favorable impact of the Lincoln UK acquisition in the fourth quarter of 2009.
For the year 2010, revenues were C$24.6bn, compared to C$27.57bn in the year 2009.