Sun Life Financial reports $722M Q4 profit, up from $237M last year

The logo of Sun Life Financial is seen in Toronto.

TORONTO — Sun Life Financial Inc. says it earned $722 million in net income during the fourth quarter.

That compares with a profit of $237 million in the same quarter a year ago, when the Toronto-based insurer took a $186-million writedown and had lower-than-expected investment income.

Sun Life says the profit amounted to $1.29 per diluted share in its latest quarter, up from 41 cents per diluted share a year earlier, while its underlying diluted earnings per share totalled $1.96, up from $1.68 in the fourth quarter of 2024.

Underlying net income for its asset management and wealth business came in at $534 million, while underlying net income for its health and protection business came in at $308 million.

The Toronto-based insurer says assets under management totalled $1.6 trillion during the period, up from $1.54 trillion during the same period a year earlier.

Sun Life CEO Kevin Strain says in a news release that the company saw robust earnings and sales in Asia and solid wealth sales in Canada.

This report by The Canadian Press was first published Feb. 11, 2026.