Are annuities too tough a business for insurance companies to be involved in?

The question naturally arises from Canadian life insurer Sun Life Financial's decision to unload its U.S. annuity business through a $1.35 billion sale to Guggenheim Partners' Delaware Life Holdings unit.

Notably de-emphasized in its announcement on Monday was the usual corporate ballyhoo about profit taking; rather, the company's news release was mainly about risk reduction and seemed only to omit the word "Pheww!" in announcing the sale.

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