The Globe and Mail reports in its Saturday edition that Sun Life missed analysts' expectations after its first-quarter earnings were hit by higher morbidity claims, the sale of its U.K. business and the end of the public-health emergency in the United States. The Globe's Clare O'Hara writes that the insurer reported "underlying" net income of $875-million, or $1.50 a share, for the first three months of the year, down from $895-million, or $1.52 a share, in the same period last year. Underlying net income strips out investment losses and makes other accounting adjustments. Analysts had expected income of $1.65 a share. Shareholders drove Sun Life's shares down 6.7 per cent in Friday trading to as low as $68.51 on the Toronto Stock Exchange. Chief executive officer Kevin Strain attributed the missed earnings mostly to the higher number of morbidity claims in the U.S. as well as lower sales in DentaQuest, a Sun Life unit that is one of the largest providers of U.S. Medicaid dental benefits. "Our U.S. dental business continued to experience negative impacts from the end of the public-health emergency driven by Medicaid member disenrolment and higher claims ratios on the remaining members," Mr. Strain told analysts Friday.