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

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

Earnings for the period ended Dec. 31 worked out to $1.96 per share, up from $1.68 during the prior year quarter.

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 billion during the period, up from $1.54 billion 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.

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The Canadian Press