Two of Canada’s largest financial services and insurance companies, Sun Life and Manulife, have reported second-quarter earnings that beat market expectations, benefiting in large part from rapid growth in Asia.

Sun Life reported that the net income at its Asian business rose to C$145 million from C$123 million a year ago. Manulife reported core earnings of C$1.43 billion the second quarter, compared with C$1.17 billion the year before.

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