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.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
