Sun Life Getting Expanding their Offerings

Sun Life Financial, Inc. has decided to expand their current line of insurance offerings. They recently acquired Genworth Financial, Inc.'s group insurance business for approximately $650 million. This is a large deal that will be sure to solidify Sun Life as one of the major players in this industry.

This deal will make Sun Life Financial the fifth largest provider of both disability and group life insurance in all of North America. This acquisition will also allow Sun Life Financial to offer dental insurance to other areas of North America; not just Canada.

Even before they made this purchase Sun Life was a major contributor in this industry. They provide medical, disability, and group policies to more than 30,000 organizations. In turn, this means that nearly 3 million people are covered by Sun Life Financial plans.

Overall, this deal will add five cents per share to their operating earnings in the next year. With Sun Life Financial making a move like this, other insurance companies are sure to take notice.