Sun Life’s Sujoy Ghosh expands Bermuda business into participating life
Sun Life has established Sun Life Bermuda, led by Sujoy Ghosh (pictured), CEO of Sun Life Private Wealth, as a wholly owned insurance subsidiary expanding the group’s Bermuda operations into participating life insurance products.
Licensed and regulated by the Bermuda Monetary Authority, Sun Life Bermuda will operate alongside Sun Life Assurance Company of Canada (Bermuda Branch), which will continue to support non-participating life insurance solutions.
The new subsidiary is launching its first participating whole life solution, co-developed with Sun Life Asset Management and drawing on the asset manager’s public and private market capabilities.
The participating fund will provide diversified exposure across private credit, infrastructure, real estate, fixed income and public equities.
The launch comes as demand for intergenerational wealth planning solutions grows across Asia and the Middle East, where wealth creation is accelerating.
Sun Life has served high-net-worth clients from Bermuda since 1996, making the jurisdiction an established part of its Sun Life Private Wealth business.
Ghosh said: “For three decades, Bermuda has been an important hub for our Private Wealth business. The new subsidiary Sun Life Bermuda Limited builds on that foundation by adding participating product capabilities. Its first product also reflects the global strength of Sun Life, bringing together our high-net worth insurance expertise with Sun Life Asset Management’s global asset management capabilities to deliver a differentiated solution for advisors and Clients.
“As high net worth families look for more integrated approaches to protection, wealth accumulation and legacy planning, they increasingly need solutions that can support multiple objectives within a single structure.
“The establishment of Sun Life Bermuda Limited expands our ability to meet these needs through a broader range of insurance solutions designed for intergenerational wealth planning.”
Karim Gilani, global head, strategic solutions and partnerships at Sun Life Asset Management, said: “This solution reflects the global strength of Sun Life coming together for our clients. By combining Sun Life Asset Management’s investment capabilities with Sun Life Private Wealth’s high net worth insurance expertise and distribution partnerships, we are creating innovative solutions that help advisors support high net worth families’ long-term wealth goals.”
Did you get value from this story? Sign up to our free newsletters and get stories like this sent straight to your inbox.
