Sun Life (U.S.)

The U.S. entity behind this entry is Delaware Life Insurance Company (NAIC 79065). Delaware regulators note it was incorporated in 1970 and began business in 1973.[1] The same exam report documents a key identity shift: the company was formerly known as Sun Life Assurance Company of Canada (U.S.) and changed its name to Delaware Life in 2014.[1] State summaries also list the company under the Delaware Life name and NAIC identifier, reinforcing the continuity of the legal entity through the rebrand.[2]

That 2010s transition reflects a broader industry pattern: carriers periodically separate or rename U.S. subsidiaries to align product focus, distribution partners, and capital planning. Delaware's examination places the company in an "Annuity Marketplace" context, highlighting the operational discipline required when interest rates, lapse behavior, and reserving rules evolve.[1] In annuity-driven businesses, steady operations matter because policyholder guarantees can last for decades.

Over repeated economic cycles, annuity writers have had to balance crediting strategies, hedging, and risk transfer while still offering guarantees consumers value. The opportunity for Delaware Life has been to specialize in retirement-oriented blocks and deliver continuity of service through corporate change, rather than relying on constant new-product churn. The regulatory record emphasizes the stability of the licensed entity even as the market-facing name and ownership context change.[1][2]

Sources: [1] https://insurance.delaware.gov/wp-content/uploads/sites/15/2021/05/DelawareLifeInsuranceCompany2019web.pdf ; [2] https://www.nebraska.gov/insurance/appointments/search/summary.cgi?naic=79065&rYear=2015&type=life