Aug 7 (Reuters) - Canada's Sun Life Financial ( SLF )

reported a jump in second-quarter profit on Thursday, driven by

strong growth in its Asia unit, where insurers are expanding to

tap a growing, under-insured middle class and offset weakness in

the U.S. market.

"Sun Life's Q2 results were driven by record underlying net

income in Asia with strong protection business growth, higher

wealth management and investment earnings," CEO Kevin Strain

said in a statement.

Underlying net income from the company's Asia operations

helped lift overall earnings to C$716 million ($520.88 million),

or C$1.26 per share, for the quarter ended June 30, up from

C$646 million, or C$1.11 per share, a year earlier.

However, underlying earnings from its individual

protection business declined 10% to C$299 million.

Underlying earnings from its group health and protection

business rose 7% to C$326 million, while individual protection

earnings fell 10% to C$299 million. Wealth and asset management

income was flat at C$455 million.

The Toronto-based company reported underlying EPS of

C$1.79, compared with analysts' average estimate of C$1.78 per

share, according to LSEG data.

Underlying earnings from Sun Life Financial's ( SLF ) group health

and protection businesses, which provide insurance policies to

employer and government plan members, rose 7% to C$326 million.

Sun Life also said David Healy will become President of

Sun Life U.S. effective Sept. 1, 2025, succeeding Dan Fishbein,

who plans to retire in March 2026.

Shares of Sun Life have declined about 1% this year, while

rival Manulife, which also reported strong Asia growth

this week, is down 6.4%.

($1 = 1.3746 Canadian dollars)