Sun Life Financial's shares fell 9% on Thursday after the Canadian insurer reported quarterly profit below analysts' estimates and warned its U.S. business would face challenges in 2025.

The insurance company says diluted earnings per share were 41 cents, down from $1.28 during the fourth quarter of 2023. Sun Life says underlying net income for the quarter was $965 million, down from $983 million a year earlier.

The insurance company says diluted earnings per share were 41 cents, down from $1.28 during the fourth quarter of 2023