From Sun Life: 9-10-2015
An Exciting Message for Our Broker Community:
We are excited to share the news that late yesterday, we announced that Sun Life Financial will purchase Assurant Employee Benefits. This transaction is expected to close by the end of first quarter 2016, pending regulatory approval, at which time our business and employees of Employee Benefits will transfer to Sun Life Financial. Until then, we will continue to operate separately and serve our customers and partners as we have always done. As always, we are committed to frequent and transparent communication with you throughout the transition process.
About Sun Life Financial. Many of you know Sun Life Financial as an international insurance leader and provider of employee benefits, serving customers’ financial well-being for a century and a half. It is committed to the employee benefits business as the primary focus of its U.S. insurance operations. In the press release announcing the acquisition, Dan Fishbein, president of Sun Life Financial said the following: “This combination will enable us to offer one of the broadest arrays of employee benefits products in the market to our customers. Our portfolio will include leading capabilities in the Group Life and Disability, Dental and Vision, Stop Loss and Voluntary categories. Our increased size will also support future investments as we continue to grow our U.S. business. We’re bringing together some of the top talent and capabilities in the industry.”
Upon closing, our combined businesses will provide financial protection through more than 60,000 employers in the U.S. The business will be part of Sun Life Assurance Company of Canada that is Rated A+ (Superior) by A.M. Best, AA- (Very Strong) by Standard & Poor’s, and Aa3 (Excellent) by Moody’s, offering the financial strength and security our clients have come to expect. We are also pleased that Sun Life Financial shares our strong and long-standing commitment to giving back to the communities where we live, work, and do business.
More Information for You. Sun Life Financial and Assurant Employee Benefits are committed to providing a seamless transition for our customers, their employees and you. You and your clients can expect many of the important aspects of working with us—your Assurant Employee Benefits’ sales and customer support contacts—to remain unchanged as we work through the transition. Together, we will work to communicate any changes that impact the customers or you.
To help with immediate questions and to provide more information about the Sun Life Financial-Assurant announcement, please visit us at www.assurantemployeebenefits.com/announcement.
We appreciate your support and look forward to continuing to serve you and your clients.
Marc Warrington, President
Assurant Employee Benefits