Sun Life Financial Completes Sale Of UK Arm To Phoenix Group

RTTNews | Pred 879 dňami
Sun Life Financial Completes Sale Of UK Arm To Phoenix Group

(RTTNews) - Sun Life Financial, Inc. (SLF, SLF.TO) announced Monday it has completed the sale of SLF of Canada UK Ltd. to Phoenix Group Holdings plc (PHNX.L).

Headquartered in London, Phoenix Group is the UK's largest long-term savings and retirement business with more than 12 million customers and 260 billion pounds of assets under administration.

This transaction will see Sun Life UK's life and pension policies and annuity blocks for UK Clients move to Phoenix Group.

Sun Life UK has been closed to new sales and has been operating as a run-off business in the life and pension policies segment since 2001. Sun Life will retain its economic interest in UK's payout annuities business.

As part of the sale, Sun Life will begin a long-term partnership to become a strategic asset management partner to Phoenix Group. Sun Life's asset management companies, MFS and SLC Management, will continue to manage approximately C$8 billion of Sun Life UK's general account.

Phoenix Group has set a goal to invest approximately $25 billion in North American public and private fixed income and alternative investments over the next five years. MFS and SLC Management will be material partners to Phoenix Group in achieving this goal.

read more
German Inflation Accelerates To 2.2% In August

German Inflation Accelerates To 2.2% In August

Consumer price inflation in Germany climbed in August to its highest level in five months, while the core figure was steady amid an acceleration in food price growth, and weakened chances for further easing from the European Central Bank in the near term.
RTTNews | Pred 55 minútami
Swiss Market Ends Modestly Lower

Swiss Market Ends Modestly Lower

Save for a very brief while early on in the session, and for less than an hour a little past mid afternoon, the Switzerland market stayed in negative territory on Friday with investors largely staying cautious due to a lack of positive triggers.
RTTNews | Pred 3 h 45 min
European Stocks Close Lower On Geopolitical Tensions

European Stocks Close Lower On Geopolitical Tensions

European stocks closed lower on Friday, weighed down by geopolitical concerns due to rising clashes in Gaza and Ukraine, and political uncertainty in France. Investors also digested the latest batch of economic data, including the closely watched U.S. personal consumption expenditure report.
RTTNews | Pred 4 h 14 min
Chicago Business Barometer Slumps Much More Than Expected In August

Chicago Business Barometer Slumps Much More Than Expected In August

MNI Indicators released a report on Friday showing a sharp pullback by its reading on Chicago-area business activity in the month of August. The report said the Chicago business barometer tumbled to 41.5 in August after jumping to 47.1 in July, with a reading below 50 indicating contraction. Economists had expected the business barometer to edge down to 46.0.
RTTNews | Pred 7 h 17 min
U.S. Consumer Prices Increase In Line With Estimates In July

U.S. Consumer Prices Increase In Line With Estimates In July

Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to closely watched data released by the Commerce Department on Friday. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2 percent in July after climbing 0.3 percent in June. The uptick matched expectations.
RTTNews | Pred 8 h 1 min
German Unemployment Exceeds 3 Mln

German Unemployment Exceeds 3 Mln

Germany's unemployment exceeded the three million-mark for the first time in a decade in August as the prolonged period of subdued economic activity weighed on the labor market. The number of unemployed persons increased by 46,000 from the previous year to 3.025 million in August. However, unemployment fell by adjusted 9,000 compared to the previous month, while it was forecast to increase by 1
RTTNews | Pred 8 h 30 min