Sun Life Stock Rises Most Since 2021 on Earnings Beat (1)

Sun Life Financial Inc. beat analyst expectations in the first quarter, fueled by its asset management segment.

The Toronto-based insurance firm reported underlying earnings of C$1.82 per share, better than the C$1.71 predicted by analysts in a Bloomberg survey. Sun Life also raised its quarterly dividend to 88 Canadian cents from 84 cents.

“I would characterize this quarter as being a return to the normal claims experience that we see,” Chief Executive Officer Kevin Strain said in an interview, adding that the insurer raised its prices significantly since the previous quarter.

Strain added that in the face of global ...