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April 27, 2015 7:07 PM ET


Company Overview of Sun Life Assurance Company Of Canada

Company Overview

Sun Life Assurance Company of Canada, a diversified financial services company, provides savings, retirement and pension, and life and health insurance products to individuals and groups in Canada, the United States, the United Kingdom, and Asia. The company is headquartered in Toronto, Canada. Sun Life Assurance Company of Canada operates as a subsidiary of Sun Life Financial Inc.

150 King Street West

Toronto, ON M5H 1J9






Key Executives for Sun Life Assurance Company Of Canada

Chief Executive Officer, Director and Chief Executive Officer of Sun Life Financial Inc
Age: 67
President, Chief Operating Officer, Director, President of Sun Life Financial Inc and Chief Operating Officer of Sun Life Financial Inc.
Age: 63
Chief Financial Officer and Senior Vice-President
President of Sun Life Financial Canada
President of Sun Life Financial Canada
Age: 57
Compensation as of Fiscal Year 2014.

Sun Life Assurance Company Of Canada Key Developments

Sun Life Assurance Company of Canada and BCE Inc. Enter into $5 Billion Longevity Insurance Agreement

Sun Life Financial Inc. and BCE Inc. announced a new agreement that further advances BCE's pension de-risking strategy by transferring longevity risk for $5 billion of pension plan liability to Sun Life Assurance Company of Canada (Sun Life). Under this new longevity insurance agreement, the Bell Canada Pension Plan will pay monthly premiums to Sun Life and in exchange Sun Life will make monthly pension payments into the plan for the lifetime of existing pensioners. BCE maintains full responsibility for the Bell pension plan and related payments to pensioners. Sun Life will reinsure a portion of the longevity risk to RGA Canada and SCOR Global Life.

Imperial Holdings, Inc. Announces Dismissal of Lawsuit Brought by Sun Life and Imperial's Lawsuit Against Sun Life to Proceed

Imperial Holdings, Inc. announced that on February 4, 2015, the United States District Court for the Southern District of Florida granted its motion for summary judgment and dismissed the final two counts of an amended seven-count complaint against Imperial by Sun Life Life Assurance Company of Canada which was initially filed on April 18, 2013. Sun Life's lawsuit claimed, among other things, that a number of policies issued by it and owned by Imperial should be declared invalid. The Court also denied Sun Life's motion to dismiss Imperial's complaint against Sun Life alleging, among other things, breach of contract, breach of the covenant of good faith and fair dealing, and fraud. A trial on Imperial's claims is expected to be held in the near future.

Sun Life Financial Canada Launches Specialty Drug Pharmacy Network in Association with McKesson Canada

Sun Life Assurance Company Of Canada is entering into a strategic business relationship with McKesson Canada to launch the Sun Life Preferred Pharmacy Network. Comprised of over 1,500 pharmacies across Canada, outside Quebec, this network will help employers and their employees manage the increasing claim costs of specialty medications. Sun Life plan members will benefit from reduced overall claim costs on specialty drugs and have access to medication counselling, home delivery of prescriptions and chronic disease management programs, such as those focused on diabetes, where available. The Sun Life Preferred Pharmacy Network will be available to employees who are covered under a Sun Life benefits plan and use their pay direct drug card to purchase specialty medications. These are drugs that can treat select conditions such as cancer, rheumatoid arthritis and hepatitis C. Plan members will have access to a dedicated website and telephone line to find a participating pharmacy in their community that carries their medication and learn more about the additional services offered through McKesson Canada and the participating pharmacies.

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