SunAmerica Repositions Itself: The $7-billion financial services...
SunAmerica Repositions Itself: The $7-billion financial services group of Los Angeles-based Broad Inc. has completed an 18-month program to reposition the company from its traditional life insurance business to products aimed at the preretirement market. Savers Life Insurance, a subsidiary of Franklin Savings, agreed to reinsure several blocks of Sun Life Insurance’s life and health insurance business with total reserves of about $120 million. Terms were not disclosed. SunAmerica’s subsidiaries now will specialize in sale of single-premium products and variable annuities, said Robert P. Saltzman, Broad’s executive vice president.
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