News Formal

Sun Life Financial sells Sun Life U.K. business for $385 million

  • 📰 CTVNews
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 99%

Belgique Nouvelles Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

Sun Life Financial Inc. has reached a deal to sell a U.K.-based division of the company to Phoenix Group Holdings PLC for about $385 million as part of a shift to make the company more nimble.

The insurer said Thursday it will sell SLF of Canada U.K. Ltd., or Sun Life U.K., a company that manages life insurance and pension policies but is closed to new sales.

"It's an exciting opportunity for us that is aligned to our strategy to focus on less capital-intensive businesses in markets with natural tailwinds." Earnings were also affected by acquisition costs for DentaQuest, the roughly $3.1 billion deal the company closed June 1. Buying the dental benefits company, with about 2,400 employees, is part of Sun Life's transition from a focus on life insurance to benefits in the U.S.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 1. in BE

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Sun Life profits fall on DentaQuest acquisition, 'unfavourable' market impacts - BNN BloombergSun Life says it earned $785 million in Q2, a 13% decrease from the prior year due to 'unfavourable market-related impacts' as well as its acquisition of DentaQuest, the second-largest dental benefits provider in the U.S.
La source: BNNBloomberg - 🏆 83. / 50 Lire la suite »