Parsad Posted October 27, 2010 Share Posted October 27, 2010 Financial terms not disclosed. Cheers! http://www.theglobeandmail.com/globe-investor/sun-life-sells-reinsurance-unit-to-berkshire/article1774898/ Link to comment Share on other sites More sharing options...
StubbleJumper Posted October 27, 2010 Share Posted October 27, 2010 Hmmmm.... I'm guessing that Warren wouldn't have needed his elephant gun for that acquisition..... Link to comment Share on other sites More sharing options...
shalab Posted October 27, 2010 Share Posted October 27, 2010 Sun Life's reinsurance business has 70 employees in offices in Canada, the U.S. and Ireland. The unit assumes risks from life reinsurers and has life insurance in-force of $113-billion. 113 billion in float is a huge amount - not sure the terms of the transaction... Link to comment Share on other sites More sharing options...
Myth465 Posted October 27, 2010 Share Posted October 27, 2010 Seems like a smart transaction. That much float can act as a liability in the wrong hands, right now its earning nothing vs 5% - 6% some years ago. Link to comment Share on other sites More sharing options...
barminov Posted October 27, 2010 Share Posted October 27, 2010 Sun Life's reinsurance business has 70 employees in offices in Canada, the U.S. and Ireland. The unit assumes risks from life reinsurers and has life insurance in-force of $113-billion. 113 billion in float is a huge amount - not sure the terms of the transaction... Life insurance in-force does not equal float. Life insurance in-force is the face amount of all outstanding policies plus dividends. Float is a small fraction of $113 billion. Link to comment Share on other sites More sharing options...
shalab Posted October 28, 2010 Share Posted October 28, 2010 Life insurance in-force does not equal float. Life insurance in-force is the face amount of all outstanding policies plus dividends. Float is a small fraction of $113 billion. You are right - the float here is likely a small amount probably in the low single billions like the equitas deal. Link to comment Share on other sites More sharing options...
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