News and Press
| Date: | 17th June 2009 |
| Title: | Fenchurch advises Sun Life Financial on its acquisition of Lincoln National’s UK operations |
| Author: | - |
| Download: | pdf version |
Fenchurch advises Sun Life Financial on its acquisition of Lincoln
National’s UK operations
Fenchurch Advisory Partners is pleased to announce that it acted as exclusive
financial adviser to Sun Life Financial of Canada, one of the world’s
leading life assurers, in connection with its £195 million acquisition
of Lincoln National Corporation’s UK operations.
Lincoln UK is predominantly a closed book of life, pensions and annuity
business. The acquisition will double the size of Sun Life’s UK operations,
which was closed to new business in 2003, with assets under management
increasing by 60% to £10.6 billion and the number of in-force policies
to 1.1 million.
Donald A. Stewart, Chief Executive Officer, Sun Life Financial, said,
"Sun Life is seizing a compelling opportunity to expand the scale of its
UK business by acquiring a highly complementary and sizable block of business.
The combined operation is expected to generate attractive returns and
serve to position Sun Life for future growth in one of the world’s largest
life insurance markets. This focused transaction demonstrates our disciplined
approach to acquisitions and to our business. Importantly, the transaction
demonstrates our financial strength even during these turbulent times."
www.fenchurchadvisory.com
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