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Canadian Premier announces acquisition of Sun Life's sponsored markets business

On Dec. 13, 2021, Canadian Premier Life Insurance Company (Canadian Premier) entered into an agreement to acquire Sun Life Assurance Company of Canada's (Sun Life) sponsored markets business. Sponsored markets include a variety of association and affinity, and group creditor clients. This transaction will see more than 100 plan sponsors and roughly 1.5 million insured clients and plan members/customers move from Sun Life to Canadian Premier. Upon closing, this transaction will build on Canadian Premier's longstanding presence and expertise in the Canadian market.

The transaction is expected to close in early 2023 subject to satisfaction of customary closing conditions, including receipt of regulatory approvals.

BLG is representing Canadian Premier with a team led by Anthony Milazzo and including Vinay Desai, Benjamin Fenech, Marc Abdelsayed, Matteo Grandillo, Adam Ziri (Insurance M&A), Steve Suarez (Tax), Donna Spagnolo (Insurance Regulatory), James Fu, Michael Grodinsky, Xavier Berwald-Grégoire, David Perron, Tommy Hong (Labour & Employment), Neva Lyn Krew (Disputes) and Denes Rothschild (Competition).