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Life insurance company buys into UK

Mon, 22 Jun 2009

Major international life insurance company Sun Life Finance Inc. are buying into the UK life insurance market. The company will buy the UK assets of the Lincoln National Corp in a bid to increase UK operations.

The deal, thought to be worth $359 million, is a move for the future. Chief executive of Sun Life, Donald Stewart, was reported in life insurance news as saying: "The combined operation is expected to generate attractive returns and serve to position Sun Life for future growth in one of the world's largest life insurance markets ."

Sun Life are already involved in the UK, but no longer sell life insurance . It was expected that the company would exit the competitive UK market entirely, but this most recent purchase could reflect a change in tactic. The Lincoln National book include life insurance, pensions and annuities .
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