Sun Life Financial Inc. Reported net income of C$296 million or C$0.52 per share for the fourth quarter of 2009 against the C$129 million or C$0.23 for the comparable period of previous financial year. The company reported more than double profit due to rising stock market and improved sales but still the company’s profit fell short of Wall Street expectations due to impact of new business.

Company’s US operations reported narrowed loss of $9 million from the previous year’s loss of $679 million due to liability rebalancing, enhanced interest rates and improved equity market condition.

According to Don Steward, the Chief Executive, “Our strategy of diversifying across products, distribution and geographies and a strong focus on risk management has allowed us to grow and build on earrings through a difficult period for the financial services industry,”

On the basis of favorable market conditions and enhancing Interest Rates, Sun Life Financial is expecting net earnings in the range of C$1.4 billion to C$1.7 billion for the fiscal year 2010.