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Sun Life Financial Acquires Assurant Employee Benefits for $975 Million

In March 2016, Sun Life Financial completed its acquisition of U.S. Employee Benefits business of Assurant for $975 million. This purchase nearly doubled Sun Life's Group Life and Disability business, and the combination of the companies created the sixth-largest group benefits business in the United States. On its own, Sun Life had business in force of about $2.6 billion, but with the acquisition of Assurant, the business in force is increased to about $4 billion. Sun Life further reported that following the acquisition, and as of June 30, 2016, it had total assets under management of $865 billion.

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