I am writing regarding the recent article in Money Marketing concerning the acquisition of Sun Bank, our former sister company, by Portman Building Society.
Towards the bottom of the first column, there is a state-ment which says: “Sun Life Financial of Canada is known to be keen to leave the UK market.”
It is, of course, true that the company has withdrawn from selling new products in the UK through its direct salesforce channel and Sun Bank has now been sold.
However, I would like to point out that the group risk arm of Sun Life Financial of Canada (UK) is still very much alive and kicking and continuing to market its competitive products in the group protection sector through employee benefits consultancies and IFAs.
We have been operating in the market with great success for many years and are the third-biggest provider of group life and the fourth-biggest provider of group income protection insurance in the country (Source: GE Frankona 2001).
Our parent company is still totally committed to remaining in this market in the UK.
They are the number two Canadian provider and are keen to become a global force in group risk, pulling together the strengths and accumulated knowledge of our international organisation.
As we are a true fit within this global strategy, we are about to embark on a programme of initiatives to raise our profile even more.
Managing director, Group insurance
Sun Life Assurance Company of Canada (UK),