Sun Life to sell U.S. annuity business, shares fall

TORONTO (Reuters) - Sun Life Financial Inc will sell its U.S. annuity business for $1.35 billion to a unit of asset manager Guggenheim Partners in a deal that should reduce the exposure of the insurer's earnings to market swings and boost its cash levels. Even so, shareholders pulled Sun Life's stock down by 2.5 percent on Monday after the Canadian company announced the deal, which will reduce ...