A.M. Best Comments on the Reorganization of Sun Life Financial's Asset Management Businesses.OLDWICK, N.J. -- A.M. Best Co. has reviewed the reorganization plans A scheme authorized by federal law and promulgated by the president whereby he or she alters the structure of federal agencies to promote government efficiency and economy through a transfer, consolidation, coordination, authorization, or abolition of functions. announced by Sun Life Financial Inc. (Sun Life Financial) (NYSE/TSX: SLF SLF Super Low Frequency (30-300 Hz; 10,000-1,000 km) SLF Self SLF Statens Landbruksforvaltning (Norwegian Agricultural Authority) SLF Sveriges Läkarförbund SLF Saalfeld ) (Ontario), and this action will have no effect on the financial strength rating of A++ (Superior) of the Sun Life Financial group. A.M. Best was aware of Sun Life Financial's intention to reorganize re·or·gan·ize v. re·or·gan·ized, re·or·gan·iz·ing, re·or·gan·iz·es v.tr. To organize again or anew. v.intr. To undergo or effect changes in organization. its asset management businesses when its rating was affirmed af·firm v. af·firmed, af·firm·ing, af·firms v.tr. 1. To declare positively or firmly; maintain to be true. 2. To support or uphold the validity of; confirm. v.intr. with a stable outlook on September 15, 2004. This change in the corporate structure will not impact the financial strength of Sun Life Assurance Company of Canada (Toronto), but it will allow Sun Life Financial to benefit from the new capital rules for life insurance holding companies recently proposed by the Office of the Superintendent of Financial Institutions The Office of the Superintendent of Financial Institutions or OSFI is an independent agency of the Government of Canada reporting to the Minister of Finance created "to contribute to public confidence in the Canadian financial system". in Canada. A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at http://www.ambest.com. |
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