TORONTO (Yosefardi) – Sun Life Financial Inc. reported a continued growth in Asia in third quarter of this year, as insurance sales rose 5% due to higher sales in the Philippines, Hong Kong and Indonesia.
Wealth sales also increased 56%, primarily due to increased mutual fund sales in the Philippines and MPF sales in Hong Kong.
In Indonesia, Sun Life continued to increase our agency sales force, surpassing 6,700 advisors in the quarter. With over 80% of agents licensed to sell Shariah products, our sales of Shariah products were up 61% over the same quarter last year. Agency sales more than doubled over the same period last year.
Sun Life reported operating net income from Continuing Operations of $422 million in the third quarter of 2013, compared to $459 million in the third quarter of 2012.