Sun Life Financial Inc. and Wilton Re have agreed to form a reinsurance partnership through a newly established U.S. and Bermuda-domiciled insurer, Windsor Life Re.
The partnership will see Wilton Re cede an in-force life insurance and annuity block valued at approximately $1.7 billion to Windsor Life Re, with SLC Management—Sun Life’s institutional alternatives asset manager—serving as lead asset manager. Assets under management for the new entity are expected to reach roughly $10 billion at scale, supported by approximately $900 million in capital deployment.
Each party will contribute roughly one-third of the total equity capitalization. The venture is slated to launch in the first half of 2027, pending regulatory approvals and customary closing conditions.
As of June 30, 2026, Sun Life reported total assets under management of C$1.70 trillion, while SLC Management managed $316 billion in assets. Wilton Re will retain Windsor Life Re, with SLC Management overseeing asset management.
Tom Murphy, president of Sun Life Asset Management, said the partnership aligns with the company’s strategic focus on opportunities at the intersection of insurance and asset management. Dmitri Ponomarev, CEO of Wilton Re, said Windsor Life Re will strengthen the firm’s capital resources and expand its capabilities in the in-force life insurance and annuity market.
Financial advisors to Sun Life include Jefferies and Sidley Austin LLP, while Wilton Re is advised by Ardea Partners LP, Wells Fargo, and Debevoise & Plimpton LLP.
