Sun Life Q1 2006 Earnings

Scotia Capital, 28 April 2006Q1/06 - Slight miss due to unfavourable claims experience� Sun Life reported Q1/06 operating EPS (f.d.) of $0.84 vs $0.77 for 9% YOY growth, $0.02 below our estimate, and $0.02 below consensus. Given the favourable economic "tail winds" (buoyant markets, excellent credit environment, rising long term rates) we believe the "miss," largely due to modestly unfavourable