Sun Life completes sale of association, affinity, and group creditor business
On February 1, 2023, Sun Life Financial Inc. (NYSE: SLF) announced the successful completion of the sale of its sponsored markets business to Canadian Premier Life Insurance Company.
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Rhea-AI Summary
On February 1, 2023, Sun Life Financial Inc. (NYSE: SLF) announced the successful completion of the sale of its sponsored markets business to Canadian Premier Life Insurance Company. This transaction includes the transfer of association, affinity, and group creditor business, along with plan members and customers. As the leader in the Canadian group benefits market, Sun Life provides coverage to over five million employees annually and supports health care needs with more than 80 million claims processed each year. Prior to this sale, details of the agreement were released in 2021.
Positive
- Completion of the sale of sponsored markets business to Canadian Premier, allowing for strategic refocusing.
- Strengthens Sun Life's position in the Canadian group benefits market, noted for covering over five million employees.
Negative
- None.
Details
News Market Reaction – SLF
The recorded move for SLF in the trading session of this news was -0.50%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
This transaction will see Sun Life's association, affinity and group creditor business move to Canadian Premier, including plan members and customers.
Sun Life is the leader in the Canadian group benefits market, providing coverage to over five million employees and their dependents. Each year Sun Life supports the health care needs of Canadians with more than 80 million claims paid.
Click here to see the initial 2021 announcement on the agreement between Sun Life and Canadian Premier.
Connect with Sun Life
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https://twitter.com/SunLifeCA
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
Media Relations Contacts: | Investor Relations Contact: |
Gannon Loftus | |
Director, Corporate Communications | Vice-President, Head of Investor Relations & |
Sun Life | Capital Markets |
T. 647.228.8244 | Sun Life |
T. 416.979.6496 | |
Rajani Kamath | |
Associate Vice-President, Corporate Communications | |
Sun Life | |
T. 647.515.7514 | |
View original content to download multimedia:https://www.prnewswire.com/news-releases/sun-life-completes-sale-of-association-affinity-and-group-creditor-business-301736713.html
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