Canada’s Sun Life Boosts Indian Insurance Venture Stake

By Judy McKinnon

Sun Life Financial Inc., Canada’s third-largest insurance company by assets, said Wednesday it will boost its stake in its Indian insurance joint venture to 49% from 26%, expanding in what it considers a key growth market.

Toronto-based Sun Life said it would pay about 340 million Canadian dollars (about $254 million) for the additional interest in Birla Sun Life Insurance Co., its joint venture with Indian conglomerate Aditya Birla…
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