May 8 (Reuters) – Canadian insurer Sun Life Financial Inc reported a 7 percent drop in its quarterly net income, hurt by weakness in its domestic and Asia units.

The company’s net income, excluding one-time items, fell to C$717 million ($531.98 million), or C$1.20 per share, in the first quarter ended March 31, from C$770 million, or C$1.26 per share, a year earlier. ($1 = 1.3478 Canadian dollars) (Reporting by Bharath Manjesh in Bengaluru; Editing by Shinjini Ganguli)

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