U.S. Markets open in 7 hrs 6 mins

Sun Life Financial receives licence for life insurance operations

PVI Sun Life Insurance Company Limited, the joint-venture life insurance company formed by PVI Holdings and Sun Life Assurance Company of Canada, a wholly-owned subsidiary of Sun Life Financial, has received regulatory approval from the authorities in both Vietnam and Canada. The Ministry of Finance of Vietnam issued the Licence # 68 GP/KDBH for Life Insurance Operations on January 24, 2013. PVI Sun Life will have a charter capital of VND 1,000B, approximately C$48M. PVI owns 51% of the company, and Sun Life the remaining 49%. PVI Sun Life is focused on delivering the best products and services to its customers to allow them to achieve a brighter financial future. PVI Sun Life completes PVI's insurance business network, and delivers on PVI's long term strategy. The joint venture further demonstrates Sun Life's deep commitment to growing its business in Asia.