TORONTO (Reuters) - Sun Life Financial
Sun Life, Canada's third-largest life insurance company, said the amount of the charge depends on a number of factors, including the amount of expected recoveries and actuarial cash flow testing that is not performed until the close of the quarter on September 30.
According to Sun Life, it holds C$334 million par value of Lehman bond securities and approximately C$15 million net value of Lehman derivative instruments.
Sun Life, which said most of its Lehman exposure is held in segments backing liabilities, also said it holds collateral security under collateral security agreements for its net derivative exposure to Lehman.
Shares of Sun Life were down 71 Canadian cents, or 1.7 percent, at C$39.82 at mid-afternoon on Monday on the Toronto Stock Exchange.
($1=$1.07 Canadian)
(Reporting by Frank Pingue; Editing by Peter Galloway)
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