NU Online News Service, Jan. 13, 10:44 a.m. – Unum Ltd., a U.K. unit of Unum Provident Corp., Portland, Maine, has agreed to buy the U.K. group insurance business of Sun Life Financial Services of Canada Inc., Toronto.
The price of the deal and other terms were not disclosed.
The companies are hoping to complete deal by March 31.
The Sun Life Financial group insurance business is based in Basingstoke, United Kingdom. It has about 4,800 plans in force and covers about 1 million U.K. residents.
Morgan Stanley & Company Inc., New York, advised Sun Life Financial on the deal.
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