Transaction|October 27, 2010
Sun Life Financial announces sale of reinsurance business to Berkshire Hathaway
Torys acted as Canadian regulatory counsel to Sun Life Assurance and Sun Life Financial with a team that included Blair Keefe, Tom Zverina, Jay Holsten and Philip Mohtadi.
On October 27, 2010, Sun Life Financial Inc. (TSX, NYSE: SLF) announced that Sun Life Assurance Company of Canada (Sun Life) has entered into an agreement to sell its life reinsurance business to Berkshire Hathaway Life Co. of Nebraska. The transaction is subject to regulatory approval and is expected to close December 31, 2010.
Sun Life's reinsurance business has approximately 70 employees in offices in Canada, the U.S. and Ireland. The unit assumes risks from life reinsurers and has life insurance in-force of C$113 billion.
Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth accumulation products and services to individuals and corporate customers.
Berkshire Hathaway Life Co. of Nebraska provides retirement planning products (single premium deferred annuities and single premium immediate annuities, also known as a lifetime annuity) and personal quotes through its Web site.
Further information is found on Sun Life's website.
Sun Life's reinsurance business has approximately 70 employees in offices in Canada, the U.S. and Ireland. The unit assumes risks from life reinsurers and has life insurance in-force of C$113 billion.
Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth accumulation products and services to individuals and corporate customers.
Berkshire Hathaway Life Co. of Nebraska provides retirement planning products (single premium deferred annuities and single premium immediate annuities, also known as a lifetime annuity) and personal quotes through its Web site.
Further information is found on Sun Life's website.