Sun Life Canada expands in UK with Lincoln acquisition

by Gill Montia

Story link: Sun Life Canada expands in UK with Lincoln acquisition

Lincoln Financial Group, the UK life and pensions business of US-based Lincoln National Corporation, is being acquired by Sun Life Financial (SLF).

The Canadian life and pensions giant already has UK operations and the move will enhance its product range while at the same time developing its distribution capability.

Completion of the transaction is expected in September and in the meantime, Lincoln UK has pledged to continue promoting its i2Live Financial Foundations and Unit Trust range.

Sales and marketing director, Helen Turner, says: “The Lincoln UK operation is a pioneer in the delivery of innovative retirement products in the UK. The acquisition by Sun Life Financial Inc. will further strengthen our business and provide us with expanded opportunities.”

SLF chief executive officer, Donald A Stewart, comments: “Sun Life is seizing a compelling opportunity to expand the scale of its UK business by acquiring a highly complementary and sizable block of business.”

He adds that the transaction demonstrates the group’s financial strength “even during these turbulent times”.