Divestiture • Insurance

Delaware Life Insurance Co. Acquires Sun Life Insurance & Annuity Company of New York

On December 17, 2012, Delaware Life Insurance Co. acquired insurance company Sun Life Insurance & Annuity Company of New York from Sun Life

Acquisition Context
  • This is Delaware Life Insurance Co.’s 1st transaction in the Insurance sector.
  • This is Delaware Life Insurance Co.’s 1st transaction in the United States.
  • This is Delaware Life Insurance Co.’s 1st transaction in New York.

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M&A Deal Summary

Date December 17, 2012
Target Sun Life Insurance & Annuity Company of New York
Sector Insurance
Buyer(s) Delaware Life Insurance Co.
Sellers(s) Sun Life
Deal Type Divestiture

Target Company

Sun Life Insurance & Annuity Company of New York

New York, New York, United States
Sun Life Insurance and Annuity Company of New York engages in the sale of individual fixed and variable annuity contracts.
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Buyer Overview 1

Buyer

Delaware Life Insurance Co.

Wellesley Hills,, Massachusetts, United States

Category Company
Sector Insurance
DESCRIPTION

Delaware Life Insurance Compnay, provider of annuity and life insurance products in the United States


Deal Context for Buyer #
Overall 1 of 1
Sector: Insurance 1 of 1
Type: Divestiture 1 of 1
State: New York 1 of 1
Country: United States 1 of 1
Year: 2012 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-18 Delaware Life Insurance Company of New York

New York, New York, United States

Delaware Life Insurance Company of New York is a provider of fixed annuities, variable annuities, and life insurance products with 16,000 policies in force and approximately $1.8 billion in assets as of September 30, 2022.

Sell -

Seller Profile 1

SELLER

Sun Life

Toronto, Ontario, Canada

Category Company
Founded 1871
Sector Insurance
Employees31,768
Revenue 28.7B CAD (2024)
DESCRIPTION

Sun Life is a international provider of protection and wealth products and services to individual and corporate customers. With offices in key markets worldwide serving millions of customers, Company help people achieve financial peace of mind by providing sound financial solutions throughout their lifetimes. Sun Life was incorporated in 1871 and is based in Toronto, Ontario.


Deal Context for Seller #
Overall 2 of 4
Sector: Insurance 2 of 4
Type: Divestiture 2 of 4
State: New York 1 of 1
Country: United States 1 of 1
Year: 2012 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-01-10 Sun Life Financial Advisory Services

Toronto,, Ontario, Canada

Sun Life Financial Advisory Services a Canadian mutual fund dealer provide financial advisory services to individuals and businesses.

Sell $2M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-01 Bentall GreenOak

Toronto, Ontario, Canada

Bentall GreenOak is a fully integrated real estate services company providing investment management, property management, leasing and development services to clients across Canada and the U.S.

Buy -