A U.S. financial services company is acquiring a large retirement plan operation from its Canadian owner.
Hartford Life, Simsbury, Conn., a unit of Hartford Financial Services Group Inc., Hartford, has agreed to acquire Sun Life Retirement Services (U.S.) from the U.S. division of Sun Life Financial Inc., Toronto, the companies say.
Sun Life Retirement Services previously was known as MFS Retirement Services.
The deal does not include the investment company parent of the retirement services unit, Massachusetts Financial Services Company.
What Your Peers Are Reading
Sun Life announced a year ago that it had hired advisors to seek “strategic alternatives” for the investment company operations. Sun Life ended up deciding to keep the investment company.