NEW YORK, July 31, 2013 /PRNewswire/ -- The New York Department of Financial Services has approved the acquisition of Sun Life Insurance and Annuity Company of New York, a unit of Sun Life Financial Inc. (NYSE:SLF, TSX:SLF), by Delaware Life Holdings LLC.
Delaware Life Holdings LLC is owned by a private ownership group, which includes certain shareholders of Guggenheim Partners.
"We are pleased that the NYDFS has approved the transaction," a spokesperson for Delaware Life, said. "We have cooperated with the department as they carried out their regulatory duties to review our application, had a good experience working with them, and look forward to working with the agency in the future in the same constructive fashion as we have in the past."
The transaction is expected to close on Aug. 2.SOURCE Delaware Life Holdings LLC