Recently, Sun Life Financial of Canada has signed an agreement with North American reinsurance provider Wilton Re to forge an in-depth strategic partnership covering life and annuity reinsurance as well as asset management. A new reinsurance entity named Windsor Life Re will be set up to integrate Wilton Re’s liability management expertise and Sun Life Financial’s insurance investment capabilities.

Under the agreement, Wilton Re will manage Windsor Life Re, an affiliated reinsurance entity domiciled in the United States and Bermuda. The partnership plans to deploy approximately USD 900 million of capital. Sun Life Financial and Wilton Re will each contribute roughly one third of the equity capital, and the rest will be covered by third-party strategic capital. SLC Management, Sun Life’s global institutional alternatives asset management division, will serve as the lead asset manager of the reinsurance platform. It will conduct investment operations by drawing on its experience in insurance liability investment and multi-asset investment platform. Windsor Life Re will initially take on about USD 1.7 billion of Wilton Re’s in-force policies. Follow-up new business will be continuously ceded via a quota share model. When fully scaled up, the platform targets an asset size of up to USD 10 billion.

Pending required regulatory approvals, the joint platform is expected to be launched in the first half of 2027.