Sun Life Launches Bermuda Subsidiary To Offer Participating Life Policies

Editorial Staff

29 September 2026

Sun Life, the Canadian insurance and asset management group, has established Sun Life Bermuda Limited, a wholly owned subsidiary of Sun Life Assurance Company of Canada licensed and regulated by the Bermuda Monetary Authority.

The new entity allows the group to write participating products from Bermuda for the first time, Sun Life said in a statement today. Its first product is a participating whole life policy co-developed with Sun Life Asset Management.

The participating fund will invest across private credit, infrastructure, real estate, fixed income and public equities, drawing on the group's in-house public and private markets teams.

The existing Bermuda branch of Sun Life Assurance Company of Canada will continue to handle non-participating life insurance and will operate alongside the subsidiary, the group said.

Sun Life has served HNW clients from Bermuda since 1996. The island is a hub for Sun Life Private Wealth, which also operates in Dubai, Hong Kong and Singapore.

The firm is targeting demand for intergenerational wealth planning as wealth creation accelerates across Asia and the Middle East.

“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,” Sujoy Ghosh, chief executive officer of Sun Life Private Wealth, said.

Sun Life had total AuM of C$1.70 trillion at 30 June 2026. It operates in markets including Canada, the US, the UK, Hong Kong, Japan, India and China, and is listed in Toronto, New York and the Philippines. The Bermuda launch will give the group a route to channel its private markets capabilities through its high net worth insurance distribution.