Client Assignments - Sun Life Financial of Canada

 

Lincoln Assurance transfer to Sun Life Financial of Canada

Programme Manager & Technical Consultant on Part VII transfer

 

Programme & project management of the Part VII transfer of Lincoln Assurance to Sun Life Financial of Canada covering all aspects of the transfer process. The assimilation of the Lincoln Group presented some unique technical challenges and required extensive knowledge of the transfer process and regulatory framework. The long history & numerous acquisitions of Lincoln provided many diverse business portfolios which required thorough analysis to ensure all aspects were fully addressed. The transfer of approximately £4bn of reserves and the mailing of 600,000 policyholders was successfully completed on schedule and generated significant added value and operational benefits for Sun Life Financial of Canada.

 

Sun Life Financial of Canada transfer to Unum Provident

Consultancy, Project Design & Management of Corporate Sale & Part VII Transfer

 

Advising the UK Finance Director, with a remit to manage the Finance, Investment, Regulatory & Actuarial aspects of the disposal & outsourcing of the Group Insurance business, including the implementation of an Insurance Transfer Scheme. A total of approx. 1m group life and group income protection policies were transferred.

 

Consultancy, Project Design & Management of Unit Pricing Review

 

Advising the UK Finance Director and the Appointed Actuary on key aspects and improvements to the Unit Pricing function, including Finance, Investment, Tax, Actuarial & Regulatory aspects. The role required considerable business review & planning skills as well as co-ordination with a wide range of both internal/external professionals. The Project was successfully completed with improvements being made to the Client's Corporate Governance framework and the overall risk being significantly reduced.

 

Project Management of Implementation of Property Investment Fund

 

Advising the UK Finance Director, with a remit to oversee the Finance, Investment, Tax, Legal & Actuarial aspects of the outsourcing and migration of a range of substantial property portfolios into a specially formed Property Partnership fund. The role required close collaboration with a range of professionals, most notably the Outsourcing Provider and Investment Managers. 

 

Client Comments

Programme Manager, Sun Life Financial of Canada

 

“Paul has an unsurpassed technical knowledge of the insurance business transfer process.  He was able to pinpoint the key areas that were most likely to cause issues and put the appropriate risk mitigations in place before they became major obstacles.  Through Paul's careful management of the different challenges that we faced as a team, the programme was able to deliver to its very tight deadline.”

 

UK Finance & Planning Director, Sun Life Financial of Canada

 

"With many competing business priorities, I needed someone for this project that I could rely on 100% and would only require my involvement at key decision points. I chose Avanti Consulting because I needed highly professional and experienced project management for the disposal of this key business. I had confidence in their ability to deliver - they exceeded my high expectations."