Add-on Acquisition • Insurance

Sun Life Acquires Clarica Life Insurance Co.

On May 29, 2002, Sun Life acquired insurance company Clarica Life Insurance Co.

Acquisition Context
  • This is Sun Life’s 1st transaction in the Insurance sector.
  • This is Sun Life’s 1st transaction in Canada.
  • This is Sun Life’s 1st transaction in Ontario.

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M&A Deal Summary

Date May 29, 2002
Target Clarica Life Insurance Co.
Sector Insurance
Buyer(s) Sun Life
Deal Type Add-on Acquisition

Target Company

Clarica Life Insurance Co.

Waterloo, Ontario, Canada
Clarica Life Insurance Co. is a provider of financial solutions in Canada. Company offers a range of health insurance products and services.
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Buyer Overview 1

Buyer

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 Buyer #
Overall 1 of 9
Sector: Insurance 1 of 3
Type: Add-on Acquisition 1 of 7
State: Ontario 1 of 2
Country: Canada 1 of 3
Year: 2002 1 of 1
FOLLOWING 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