Sun Life and Wilton Re announce a strategic partnership, combining depth and breadth of capabilities across life and annuity reinsurance and asset management
Rhea-AI Summary
Sun Life (TSX/NYSE: SLF) and Wilton Re have agreed to form a strategic reinsurance and asset management partnership centered on a new affiliated reinsurer, Windsor Life Re, domiciled in the U.S. and Bermuda. Windsor Life Re will support Wilton Re’s in-force life and annuity block origination, reinsuring an initial in-force block of approximately US$1.7 billion from Wilton Re, with future business ceded on a quota share basis.
The partnership is expected to deploy about US$900 million of capital, with Sun Life and Wilton Re each providing roughly one-third of total equity. SLC Management, Sun Life’s institutional alternatives asset manager, will act as lead asset manager for Windsor Life Re’s investments and may manage up to US$10 billion at scale. The partnership launch is targeted for the first half of 2027, subject to regulatory approvals and customary closing conditions.
Positive
- US$900 million of capital expected, with Sun Life contributing about one-third of equity
- New reinsurer Windsor Life Re to reinsure an initial US$1.7 billion in-force block from Wilton Re
- SLC Management named lead asset manager for Windsor Life Re, targeting up to US$10 billion in assets at scale
- Partnership expands Sun Life’s insurance asset management reach and strategic access to permanent capital
Negative
- None.
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- Wilton Re to form Windsor Life Re, a
U.S . andBermuda -domiciled affiliated reinsurer supported by long-term strategic capital commitments from Wilton Re and Sun Life. Windsor Life Re will be managed by Wilton Re. - SLC Management, Sun Life's global institutional alternatives asset manager, will serve as lead asset manager of Wilton Re's new standalone reinsurance vehicle managing up to
US .$10 billion - Windsor Life Re will reinsure from Wilton Re an initial in-force block of approximately
US .$1.7 billion
Wilton Re will establish Windsor Life Re, a
The partnership is expected to deploy approximately
"Unlocking opportunities at the intersection of insurance and asset management is a key strategic goal for Sun Life. We are excited to partner with Wilton Re, an exceptional organization with deep reinsurance expertise, insight and a strong financial reputation," said Tom Murphy, President of Sun Life Asset Management. "Our partnership with Wilton Re enhances our scale and presence in insurance asset management and provides strategic access to permanent capital to accelerate the growth of our global alternatives asset manager, SLC Management."
"Windsor Life Re will support Wilton Re's strategic growth, broadening our capital resources and enhancing our capabilities in the in-force life insurance and annuity market," said Dmitri Ponomarev, CEO of Wilton Re. "Sun Life is a widely respected global insurer and asset manager with a track record and depth of expertise in investment management for insurance liabilities."
The new partnership is expected to launch in the first half of 2027 subject to the parties obtaining required regulatory approvals and the satisfaction of customary closing conditions. Jefferies acted as the financial advisor and Sidley Austin LLP acted as the legal advisor to Sun Life. Ardea Partners LP and Wells Fargo acted as the financial advisors and Debevoise & Plimpton LLP acted as the legal advisor to Wilton Re.
About Sun Life
Sun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional Clients. Sun Life has operations in a number of markets worldwide, including
About SLC Management
SLC Management is a global asset manager that offers institutional investors traditional, alternative and yield-orientated investment solutions across public and private fixed income markets, as well as global real estate equity and debt. SLC Management is the brand name for the institutional asset management business of Sun Life Financial Inc. under which the entities of Sun Life Capital Management (
BGO, InfraRed Capital Partners (InfraRed), Crescent Capital Group (Crescent) and Advisors Asset Management (AAM) are also part of SLC Management. BGO is a leading, global real estate investment management advisor and a globally recognized provider of real estate services. InfraRed is an international investment manager focused on infrastructure, managing equity capital in multiple private and listed funds, primarily for institutional investors across the globe. Crescent is a global alternative credit investment manager singularly focused on corporate credit through strategies that invest in marketable and privately originated debt securities. AAM is an independent
As of June 30, 2026, SLC Management has assets under management of
For more information, please visit slcmanagement.com.
About Wilton Re
Wilton Re is a leading provider of in-force and reinsurance solutions in the North American life insurance industry. With its proven expertise in M&A and reinsurance, Wilton Re creates customized solutions that address the risk, capital and operational needs of its clients. Wilton Re has completed 26 in-force life and annuity acquisition transactions since its founding in 2004. Its core administrative reinsurance solution has been the industry standard for remediating legacy administration systems alongside blocks of legacy life insurance and annuities. Over the past 22 years, Wilton Re has converted 28 legacy systems to its BPO-based administration platform while gaining cost efficiencies and enhancing technologies, controls, and administrative processes for its counterparties. For more information about Wilton Re, please visit www.wiltonre.com.
Forward-Looking Statements
From time to time, including in this new release, Wilton Re or Sun Life may make written or oral forward-looking statements within the meaning of certain securities laws, including the "safe harbour" provisions of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements contained in this news release include statements (i) relating to expectations with respect to the strategic reinsurance and asset management partnership between Sun Life and Wilton Re, including the amount of capital the partnership will seek to deploy and the anticipated growth in the value of Windsor Life Re's investment assets; (ii) that are predictive in nature or that depend upon or refer to future events or conditions, and (iii) that include words such as "intends", "expects", "will", "seek" and similar expressions. The forward-looking statements made in this news release are stated as at August 25, 2026, represent Wilton Re's or Sun Life's current expectations, estimates and projections regarding future events and are not historical facts. These statements are not a guarantee of future performance and involve assumptions and risks and uncertainties that are difficult to predict and can change as a result of many possible events or factors, not all of which are known to Wilton Re or Sun Life or within their respective control. Some of these assumptions and risks and uncertainties are described further in Sun Life's management's discussion and analysis for the year ended December 31, 2025 under the headings "Risk Management" and "Forward-looking Statements", in the risk factors set out in Sun Life's annual information form for the year ended December 31, 2025 under the heading "Risk Factors", and in Sun Life's interim management's discussion and analysis for the quarter ended March 31, 2026 under the heading "Risk Management", in the other factors detailed in Sun Life's annual and interim financial statements and in Sun Life's other filings with Canadian and U.S. securities regulators, which are available for review at www.sedarplus.ca and www.sec.gov, respectively, and in Wilton Re's annual and interim financial statements, which are available or review at www.wiltonre.com. Actual results may differ materially from those expressed, implied or forecasted in such forward-looking statements.
Each of Wilton Re and Sun Life does not undertake any obligation to update or revise its forward-looking statements to reflect events or circumstances after the date of this news release or to reflect the occurrence of unanticipated events, except as required by law.
Note to editors: All figures in US dollars unless indicated otherwise.
Sun Life Media Relations | Sun Life Investor Relations Contact: | Wilton Re Media |
Connie Soave | Natalie Brady | Mark Semer |
Vice-President | Senior Vice-President | Managing Director |
Corporate Communications | Capital Management & Investor | Gasthalter & Co |
(416) 407-5721 | (416) 902-3794 | (212) 257-4170 |
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SOURCE Sun Life Financial Inc. - Financial News