An integration team has been established to ensure smooth transition to the Sun Life Financial of Canada brand over the next few months

Lincoln Financial Group has said that Sun Life Financial of Canada UK Limited (SLF) has completed the acquisition of Lincoln National (UK) for GBP195 million in cash, subject to customary post-closing adjustments which are not expected to be material.

Proceeds of approximately $300 million, net of tax, are expected to be used primarily for general corporate purposes. Lincoln National UK was a wholly owned subsidiary of Lincoln Financial, primarily focused on providing life and retirement income products in the UK.

Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates. Through its affiliated companies, Lincoln Financial Group offers: annuities; life, group life and disability insurance; 401(k) and 403(b) plans; savings plans; mutual funds; managed accounts; institutional investments; and comprehensive financial planning and advisory services.