SunLife's decision to pull the plug on its U.S. life insurance and annuity (ahem, retirement income) business will not touch its MFS [profile] mutual fund business in the least.

Robert L. Manning MFS Investment Management CEO

Sun Life Chief Executive Dean Connor told the Wall Street Journal that: "We're changing course and setting a new vision."

Connor reaffirmed that the insurance company remains committed to supporting the MFS Investment Management business that is based in Boston.

Connor said that SunLife plans to expand its asset management business and its business efforts in Asia. It will also continue to sell its insurance products in Canada.

The decision to exit its U.S. direct-to-consumer insurance businesses is somewhat of a surprise as SunLife recently purchased the naming rights to the stadium used by the Miami Dolphins. It has those rights until 2014.

In 2007 SunLife sold its U.S. 401(k) business to The Hartford.

Other media outlets that picked up on the SunLife news include The Boston Globe, The Boston Herald, Reuters and Bloomberg.  

Edited by: Sean Hanna, Editor in Chief


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