However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. As of September 30, 2021, Sun Life had total assets under management of C$1.39 trillion.BBB Business Profiles may not be reproduced for sales or promotional purposes.īBB Business Profiles are provided solely to assist you in exercising your own best judgment. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. Sun Life is a leading international financial services organization providing insurance, wealth and asset management solutions to individual and corporate clients.
Upon the close of the transaction, Sun Life expects to generate a one-time after-tax gain of approximately C$65 million, with a corresponding 1% increase to the Sun Life and SLA Life Insurance Capital Adequacy Test ratios, and approximately C$0.03 reduction in annual underlying earnings per share going forward.įurther information can be found on Canada Newswire’s website.Ĭanadian Premier offers individual term and group life, accident & sickness, credit and creditor insurance solutions to a number of leading financial institutions, retailers and affinity groups, insuring over 2 million Canadians and families coast-to-coast. The transaction is expected to close in early 2023, subject to satisfaction of customary closing conditions, including receipt of regulatory approvals. Upon close, this transaction will build on Canadian Premier's longstanding presence and expertise in the Canadian market. The transaction will see over 100 plan sponsors and roughly 1.5 million insured clients and plan members/customers move from Sun Life to Canadian Premier. The sponsored markets business includes a variety of association & affinity, and group creditor clients. On December 13, 2021, Canadian Premier Life Insurance Company ("Canadian Premier") entered into an agreement to acquire the sponsored markets business of Sun Life Assurance Company of Canada ("SLA"), a wholly owned subsidiary of Sun Life Financial Inc.
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