Sun Life Financial has completed the sale of its domestic U.S. annuity business and certain life insurance businesses to Guggenheim Partners’ Delaware Life Holdings.
“The completion of this transformational transaction significantly reduces Sun Life Financial’s risk profile and earnings volatility,” says Sun Life’s president and CEO, Dean Connor.
The transaction includes the sale of 100% of the shares of Sun Life Assurance Company of Canada (U.S.), which includes Sun Life Financial’s domestic U.S. variable annuity, fixed annuity and fixed index annuity products, corporate and bank-owned life insurance products, and variable life insurance products.
Updated information regarding the financial impact of the sale will be described further when the company releases its second quarter financial results on August 7.
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