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Sun Life Financial Inc To Sell U.S. Annuity Business


Monday, 17 Dec 2012 07:21am EST 

Sun Life Financial Inc announced the execution of a definitive agreement whereby Delaware Life Holdings, a company owned by shareholders of Guggenheim Partners, will purchase Sun Life's domestic U.S. annuity business and certain life insurance businesses for a base purchase price of USD1.35 billion, as adjusted to reflect the performance of the business through closing. Employees of Sun Life Financial U.S. in Wellesley, Massachusetts; Lethbridge, Alberta; and Waterford, Ireland will continue to support the acquired businesses, which will be renamed Delaware Life Insurance Company. Guggenheim Partners will provide services to the Company including investment management. The transaction is expected to close by the end of Q2 2013. 

Company Quote

37.71
-0.14 -0.37%
22 Aug 2014