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Sun Life posts higher quarterly profit

Reuters
The logo of Sun Life Financial is seen in Toronto May 6, 2015. REUTERS/Fred Thornhill -

TORONTO (Reuters) - Canadian insurer Sun Life Financial Inc (Toronto:SLF.TO - News) reported a higher quarterly profit and raised its dividend on Wednesday, helped by strength in both its wealth management and life insurance businesses.

Net income for the third quarter ended Sept. 30 rose to C$482 million ($366.5 million), or 79 Canadian cents a share, from C$435 million, or 71 Canadian cents, a year ago.

Underlying earnings per share rose to 86 Canadian cents from 84 cents a year earlier.

Analysts had predicted a profit of 87 Canadian cents a share, according to Thomson Reuters I/B/E/S.

The company's global assets under management rose to C$846.2 billion at end of September, compared with C$698.2 billion in the same period last year.

(Reporting by John Tilak and Alastair Sharp; Editing by Bernard Orr)