Sun Life Financial has reported net income from continuing operations—which excludes the sale of its American annuity business—of $400 million in the first quarter of 2014.
That’s down from $410 million in the same period last year as an increase in claims offset higher revenue from premiums and investment income.
Group benefits retained its No. 1 position for the fifth consecutive year and reported a 2013 growth rate of 5.8%, both based on premiums and premium equivalents, according to the Benefits Canada‘s Group Benefits Providers Report.
Group retirement services ended the first quarter with record assets under administration of $68 billion and more than tripled sales from the first quarter of 2013.
And global assets under management reached $671 billion at the end of the quarter, up 18% from the same quarter last year.
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