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Sun Life Combines Retail Product Distribution

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A major life and annuity manufacturer is changing the way it sells its products.

The Wellesley Hills, Mass.-based U.S. division of Sun Life Financial Inc., Toronto, says it has formed a new retail insurance and annuities division that will handle all aspects of the existing individual and annuities business units.

The new unit will be a “single organization focused on the retail customer,” Sun Life says.

Michele Van Leer, who has been running the individual insurance division since 2006, will be the general manager in charge of the unit.

Mary Fay, the former general manager of annuities, has decided to leave the company, Sun Life says.