Sun Life Financial Inc. and Wilton Re entered into a definitive agreement on August 25, 2026 to establish a strategic life-and-annuity reinsurance and asset-management partnership. Wilton Re will form and manage Windsor Life Re, described as a U.S.- and Bermuda-domiciled affiliated reinsurer intended to support Wilton Re’s origination and acquisition of U.S. in-force life-insurance and annuity blocks. SLC Management, Sun Life’s institutional alternatives asset manager, will be the vehicle’s lead asset manager. 

The platform is expected to deploy approximately US$900 million, or approximately $1.246 billion, of equity capital. Sun Life and Wilton Re will each provide approximately one-third, implying anticipated commitments of about US$300 million, or $415.2 million, apiece. The source of the remaining approximately one-third was not publicly identified. Windsor Life Re will initially reinsure approximately US$1.7 billion, or $2.353 billion, of in-force business from Wilton Re; future business will be ceded on a quota-share basis. The vehicle is expected eventually to hold approximately US$10 billion, or $13.840 billion, of assets. These are capital, reinsured-block and target-assets measures, not an equity purchase price or enterprise value. 

The transaction remains conditional on required regulatory approvals and customary closing conditions, with launch expected in the first half of 2027. Sidley Austin LLP advised Sun Life, while Debevoise & Plimpton LLP advised Wilton Re. Financial advisers were Jefferies for Sun Life, and Ardea Partners LP and Wells Fargo for Wilton Re.