Sun Life Financial Inc, Canada's third-biggest insurer, said it will sell its U.S. annuity business and some life insurance businesses for $1.35 billion to a company owned by shareholders of institutional asset manager Guggenheim Partners.Sun Life said in December it would stop selling variable annuities and individual life products in the United States to focus more on group insurance and voluntary benefits.It had billed its decision to pull out of the two capital-intensive businesses, which had become a drag on its earnings, as the start of a "new chapter."Sun Life said on Monday it expects the sale to Delaware Life Holdings to result in a reduction in book value of C$950 million ($963 million) when the deal closes by the end of the second quarter of 2013.
Sun Life Financial Inc. (SLF Inc.) is the holding company of Sun Life Assurance Company of Canada (Sun Life Assurance). Shares of SLF remained unchanged at $28.19. In the past year, the shares have traded as low as $17.59 and as high as $28.48. On average, 378239 shares of SLF exchange hands on a given day and today's volume is recorded at 0.
Sun Life Financial Inc. (SLF Inc.) is the holding company of Sun Life Assurance Company of Canada (Sun Life Assurance). Shares of SLF remained unchanged at $27.83. In the past year, the shares have traded as low as $18.06 and as high as $28.00. On average, 1409550 shares of SLF.TO exchange hands on a given day and today's volume is recorded at 0.
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