Berkshire Hathaway buys life reinsurer
Canada-based Sun Life Financial has agreed to sell its life reinsurance business to Warren Buffett's Berkshire Hathaway for an undisclosed sum.
The reinsurance division, which assumes risks from life reinsurers, has in-force life insurance of C$113bn (US$110bn) and about 70 staff across Canada, the US and Ireland.
Sun Life CEO Donald Stewart said the business was profitable but was "not a growth area" for the company.
The deal is subject to regulatory approval and is expected to close on 31...
You are currently viewing an incomplete version of this article. If you are a subscriber then please login now. If you are a non-subscriber but would like to be able to view this article, then please select from the purchasing options below.
Purchase
Follow us:
