(Toronto) Sun Life Financial posted third-quarter profit of $871 million on Monday, up from $111 million in the same period a year earlier.
The Toronto insurer’s earnings per share stood at $1.48, up from 19 cents in the previous third quarter.
Sun Life notably attributed the increase in its results to the favorable impact of the markets mainly reflecting interest rates.
Underlying net profit was 930 million, which was a slight decrease from 949 million a year earlier.
The insurer said it completed its acquisition of virtual health and wellness services provider Dialogue during the quarter.
Additionally, Sun Life announced that it would pay a dividend of 78 cents per share on December 29 to common shareholders of record as of November 29. This is an increase of 3 cents, or 4%, from the previous quarter’s dividend.