Sun Life Expands ASEAN Footprint
The Canadian life insurer InSun Life Financial c. (SLF) has forged an alliance with Khazanah Nasional Berhad (Khazanah) to jointly acquire 98% of CIMB Aviva Assurance Berhad, and CIMB Aviva Takaful Berhad. The remaining 2%will be retained by CIMB Group. The bancassurance agreement will cover a span of 20 years and will cost C$586 million. Through this transaction, SLF will be able to expand its international operations in Asia.