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Canada's Sun Life in talks to buy Assurant's unit -Bloomberg

Published 2015-08-24, 07:06 p/m
© Reuters.  Canada's Sun Life in talks to buy Assurant's unit -Bloomberg
AIZ
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Aug 24 (Reuters) - Canadian insurer Sun Life Financial Inc
SLF.TO is in talks to buy New York-based insurer Assurant (NYSE:AIZ)
Inc's AIZ.N employee-benefits unit for about $900 million,
Bloomberg reported, citing people familiar with the matter.
A deal could be announced within two weeks or the talks
could still fall apart, Bloomberg cited the sources as saying.
(http://bloom.bg/1MJBZ97)
The assets for sale include life, disability, dental, vision
and other types of insurance that people acquire through their
employers, the Bloomberg wrote.
Sun Life, which has been expanding its operations in the
United States, announced in June that it would buy U.S.-based
investment management company Prime Advisors Inc and North
American real estate investment manager Bentall Kennedy Group.

Sun Life and Assurant could not be reached for comment
outside regular business hours.
Sun Life's stock, which closed on Monday at C$39.26, has
fallen about 6 percent on the Toronto Stock Exchange this year.
Assurance shares are up nearly 5 percent this year, closing
on Monday at $71.59 on the New York Stock Exchange.

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