Sun Life Financial Inc and Malaysian state investor Khazanah will purchase Aviva Plc's Malaysian insurance joint venture with lender CIMB Group for 1.8 billion Malaysian ringgit ($597 million) in a deal that will accelerate Sun Life's push into southeast Asia.Sun Life, Canada's third-largest insurer, has targeted the region for expansion due to its rapid growth, high savings rates, and relative underpenetration of insurance products."We see huge opportunity there. There are 600 million people, the economies are growing, there is a growing middle class" in Southeast Asia, Kevin Strain, president of Sun Life Financial Asia, told Reuters.Britain's Aviva, the world No. 6 insurer, is exiting markets across the world to boost its underperforming share price. Last month, Aviva sold its U.S. business for $1.8 billion. .
Sun Life Financial Inc. (SLF Inc.) is the holding company of Sun Life Assurance Company of Canada (Sun Life Assurance). Shares of SLF traded higher by 1.36% or $0.385/share to $28.72. In the past year, the shares have traded as low as $18.94 and as high as $28.48. On average, 396710 shares of SLF exchange hands on a given day and today's volume is recorded at 168184.
Sun Life Financial Inc. (SLF Inc.) is the holding company of Sun Life Assurance Company of Canada (Sun Life Assurance). Shares of SLF traded higher by 1.25% or $0.35/share to $28.29. In the past year, the shares have traded as low as $19.69 and as high as $28.06. On average, 1432550 shares of SLF.TO exchange hands on a given day and today's volume is recorded at 700466.
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