Feb 12 (Reuters) - Sun Life Financial ( SLF ) reported a fall in its fourth-quarter

profit on Wednesday, as weakness in U.S. business took away gains made in Asian markets.

U.S. group sales of $830 million were down 11% from a year ago, reflecting lower dental,

employee benefits and medical stop-loss sales. Dental sales primarily reflected lower Medicaid

sales, the company said.

However, Sun Life's business in Asia, a key playground for Canada's biggest life insurance

companies, saw underlying net income grow 22% to $175 million from last year.

Canada's second-largest life insurer's earned C$1.68 ($1.17) per share, falling short of the

average estimate of C$1.78 per share, according to data compiled by LSEG.

Its bigger peer Manulife Financial ( MFC ) will report quarterly results next week.

($1 = 1.4300 Canadian dollars)