Insurance news from Sun Life announces joint purchase of Malaysian business

January 19, 2013April 30, 2013

The financial giant will join with Khazanah for Aviva’s Malaysia business. Sun Life Financial Inc., a Canadian company, and Khazanah, a Malaysian state investor, are making insurance news by joining forces to purchase the Malaysia business of Aviva Plc., the second largest insurer in the United Kingdom, and from lender CIMB Group. This deal would considerably expand the Southeast Asia business of the third largest insurer in Canada. Southeast Asia is making regular insurance news, lately, as its appeal continues to rise for insurers who are watching its high savings…

Insurance industry changes will likely come in the form of consolidations

January 2, 2013April 30, 2013

Sun Life, a global insurer from Canada, is seeking to find new opportunities for acquisitions. The Canadian large global insurer, Sun Life, is currently on the prowl to make more changes to its position in the insurance industry, as it seeks out new acquisition opportunities within the Philippines marketplace. The insurer has also been spotted looking for some new consolidations within the local environment. The president of Sun Life Financial Philippines, Riza Mantaring, stated that the Insurance Commission’s new and higher minimum capital requirements which will be P1 billion by…

Life insurance unit in U.S. sold by Sun Life Financial

December 20, 2012December 20, 2012 H. Cutner

The sale of this and its American annuity business was made for a reported $1.35 billion. Sun Life Financial has just announced that it has come to an agreement with Delaware Life Holdings to sell its U.S. annuity unit as well as some of its life insurance businesses for a reported $1.35 billion. The buyer is a company that is owned by the Guggenheim Partners group of shareholders. According to president and chief executive officer of the seller, Dean Connor, “This transaction represents a transformational change for Sun Life.” Connor’s…