The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Sun Life Financial CEO Dean Connor is pictured in 2012. The insurer is preparing to close the $1.35-billion sale of its domestic U.S. annuity business after gaining the approval of an important New York regulator.
Sun Life Financial CEO Dean Connor is pictured in 2012. The insurer is preparing to close the $1.35-billion sale of its domestic U.S. annuity business after gaining the approval of an important New York regulator.
(Michelle Siu For The Globe and Mail)

Sun Life’s $1.35-billion annuity deal clears regulatory hurdle

Sun Life Financial Inc. is preparing to close the $1.35-billion sale of its domestic U.S. annuity business after gaining the approval of a New York regulator.

In June, the insurer said it was taking an unexpectedly long time to complete the transaction after the New York Department of Financial Services (DFS) expressed concerns about private equity firms buying into the annuities business.