(Bloomberg) -- Sun Life Financial Inc., Canada’s third-largest life insurer, agreed to buy an employee-benefits business from Assurant Inc. to expand in the U.S.

Assurant will receive $940 million in the sale, the New York-based company said in a statement Wednesday. Sun Life said in a separate statement that its net investment will be $975 million, a sum that includes capital required to support the operation.

Register or login for access to this item and much more

All Employee Benefit News content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access