Sun Life joins a US$900 million reinsurance venture in the US
Each of the two firms will contribute approximately one-third of the total equity capitalization, the announcement said, with the remainder unspecified.
Windsor Life Re will reinsure an initial in-force block of about US$1.7bn from Wilton Re, and future business will be ceded on a quota share basis.
The companies expect the reinsurer to hold about US$10bn in assets once the book is built out.
SLC Management, Sun Life’s alternatives asset manager, will lead investment management for Windsor Life Re.
“Unlocking opportunities at the intersection of insurance and asset management is a key strategic goal for Sun Life,” said Tom Murphy, president of Sun Life Asset Management, in the announcement.
