Sun Life Financial to acquire KC’s Assurant Employee Benefits for $975 million

Photo courtesy of Assurant
Photo courtesy of Assurant

Canadian insurance company Sun Life Financial plans to acquire Kansas City-based Assurant Employee Benefits for $975 million in a deal the firms say will create the sixth-largest group benefits business in the U.S.

Assurant’s 1,700 employees, including about 800 in Kansas City, are expected to be offered positions with Sun Life, the companies said.

Assurant said earlier this year that it was looking to sell the employee benefits business, which serves more than 30,000 small and midsize companies.

Sun Life said the purchase will “significantly” increase the size and scale of its U.S. operation, adding a dental business and provider network, and group life and disability coverage to its offerings.

Read more from the Kansas City Star


Tags:,

Leave a Reply