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Sun Life Financial Inc. is a Canadian financial services company. It is primarily known as a life insurance company. Sun Life has a presence in investment management with over CAD$1.3 [4] trillion in assets under management operating in a number of countries. [5] Sun Life ranks number 235 on the Forbes Global 2000 list for 2022.
SunLife can trace its history back to the establishment of the Sun Life Assurance Society on 28 March 1810, when the Sun Fire Office Board launched a separate company to offer life assurance. [8] The society's first office opened opposite the Bank of England in London, and actuary Joshua Milne was appointed the first member of staff.
Birla Sun Life Asset Management Company was established in 1994 as a joint venture between the Aditya Birla Group and Sun Life Financial of Canada where the former owns 51% and the rest is owned by the latter. It provides wealth accumulation and protection products, and services to individuals and corporate customers.
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The Sun Life Assurance Society was a life insurance offshoot, founded in 1810, of the Sun Fire Office. [2] The Head Office moved to Bristol in 1976. [ 3 ] UAP acquired 50% of the Sun Life Assurance Society in 1992.
Variable universal life insurance (often shortened to VUL) is a type of life insurance that builds a cash value. In a VUL, the cash value can be invested in a wide variety of separate accounts, similar to mutual funds, and the choice of which of the available separate accounts to use is entirely up to the contract owner.