Deals
Sun Life Sells U.S. Annuity Unit in $1.35 Billion Deal
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Sun Life Financial Inc., the best-performing financial stock in Canada this year, agreed to sell a U.S. annuity business to a firm owned by Guggenheim Partners LLC shareholders in a $1.35 billion deal to cut risks in equity markets and interest rates.
Guggenheim will provide investment management for the acquired businesses, including some life insurance assets, Sun Life said today in a statement. The business will be renamed Delaware Life Insurance Co.