The U.S. unit of Toronto's Sun Life Financial Inc. said Monday that it had agreed with M Financial Group to offer Sun Life annuities and life insurance to the latter's member companies and their high-net-worth clients.
As part of the relationship, M Financial and Sun Life Financial U.S., based in Wellesley, Mass., are to enter into reinsurance arrangements to leverage M Financial's superior mortality, persistency, and expense experience and deliver additional value to clients. In addition, Sun Life is to dedicate resources to M Financial member companies including sales and marketing support, underwriting, and policyholder service.
M Financial Group distributes financial products and services through more than 110 member companies in 35 states. Its network of independent insurance, investment, and executive benefit firms caters to ultra-affluent individuals, corporate executives, successful entrepreneurs, and Fortune 1000 companies.
Sun Life Financial had $332 billion of assets under management at Dec. 31.
