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Thursday April 24th 2014

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Sun Life Financial Completes Sale of Domestic U.S. Annuity Business

annuitynesteggSun Life Financial Inc. announced that it has completed the sale of its domestic U.S. annuity business and certain life insurance businesses to Delaware Life Holdings, LLC, which was announced last December. The completion of this transformational transaction significantly reduces Sun Life Financial’s risk profile and earnings volatility. 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 according to a recent report in the Wall Street Journal.