Sun Life nears deal on U.S. reinsurance debacle

Article Abstract:

Industry analysts said that Toronto, Ont.-based Sun Life Assurance Company of Canada may accept a proposed settlement in a reinsurance case related to a workers compensation insurance pool operated by Unicover Managers Inc. Sun Life, which could lose as much as $910 million, may settle the case with New York, NY-based Reliance Group Holdings Inc.

United States, Legal issues & crime, Direct Property and Casualty Insurance Carriers, INSURANCE CARRIERS, Reinsurance, Reinsurance Carriers, Financial Holding Companies, Offices of Bank Holding Companies, Fire, marine, and casualty insurance, Holding Offices, Workmen's Compensation Insurance, Cases, Financial services industry, Financial services, Property and casualty insurance industry, Reliance Group Holdings Inc., REL, Workers' compensation, Unicover Managers Inc.

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Sun Life plans to boost return

Article Abstract:

Toronto, Ont.-based Sun Life Assurance Company of Canada has announced that it will cut $160 million in operating costs while spending $700 million on a business expansion plan. Sun Life, which is led by chairman and chief executive officer Donald Stewart, is a life insurance company.

Capital expenditures, Financial management, Finance

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