03 April 2023

SunLife completes sale of UK business to Phoenix Group

Written By FinTech Alliance in Pensions

SunLife completes sale of UK business to Phoenix Group

Sun Life Financial Inc. has completed the sale of SLF of Canada UK Limited to Phoenix Group Holdings plc

IN BREIF:

- Phoenix Group is the UK’s largest long-term savings and retirement business with more than 12 million customers and £260bn of assets under administration

- The deal means Sun Life UK’s life and pension policies and annuity blocks for UK Clients move to Phoenix Group

- As part of the sale, Sun Life will begin a long-term partnership to become a strategic asset management partner to Phoenix Group

What does this mean?

Phoenix Group has set a goal to invest approximately US$25bn in North American public and private fixed income and alternative investments over the next five years.

Read more here.

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