Sun Life Financial Inc. (TSX: SLF) said Wednesday the sale of its domestic U.S. annuity business and certain life insurance businesses to Delaware Life Holdings, LLC, is expected to close this week.

The insurer says the parties have now received all regulatory approvals and the transaction is expected to close on or before August 2.

On Dec. 17, 2012, Sun Life announced a US$1.35-billion deal to sell its U.S. annuity business in mid-December 2012. (See Investment Executive, Sun Life refocuses, Mid-January 2013).