![]() ![]() ![]() News of the company’s departure, discussed on an investor conference call today, was a surprise to distributors and analysts alike. The New York Times pegged the price at $20 million. That ramping up included acquiring the naming rights in 2010 Miami’s Joe Robbie Stadium, now Sun Life Stadium, According to figures cited by Street & Smith’s SportsBusiness Journal, the totoal cost of the five-year contract was $37.5 million. Sun Life’s departure from the market comes at a time when the insurer has been ramping up its presence in the U.S. Sun Life ranked 13th among variable annuity sellers, with $2.3 billion through Sept. The carrier was also hamstrung by Canadian capital requirements, which are more onerous than those in the U.S., particularly with regard to variable annuities. Some 800 jobs globally will be affected, with the majority in the U.S. The company’s management blamed stock market volatility and depressed interest rates for the pullback. variable annuity and individual life insurance businesses has raised concerns among broker-dealers and other distributors about the shrinking pool of carriers.Ĭanadian carrier Sun Life said it would cease sales of new VA and life insurance policies, effective Dec. ![]() Sun Life Financial Inc.’s exit from the U.S. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |