Sun Life Financial Inc. is reporting an 8% rise in profit for the third quarter ended September 30.

The insurer says the increase is the result of stronger equity markets and gains at its U.S. operations.

“Overall, our positive results benefited from improved equity markets and reflected a continuing strong rebound in earnings contribution from MFS Investment Management and Sun Life Financial U.S. and another solid quarter by the Canadian business,” said Donald Stewart, CEO.

Net income for the quarter was $394 million, or 65¢ a share. That is up from $361 million, or 58¢, a year ago.

Return on equity was 11.3% in the quarter, up from 10.1% last year.

Revenues fell to $5.3 billion from $5.8 billion. The company says the strength of the Canadian dollar lowered revenues by about $400 million. Sun Life has operation in Asia, the United Kingdom and the United States,

Sun Life says profit at its Canadian operations jumped 19% over the same period last year, helped by the acquisition of Clarica Life last year.

The company says Clarica added 6¢ a share to Sun Life’s overall profit in the third quarter.