Liberty Financial Companies of Boston announced today that it has agreed to sell Keyport Life Insurance of Boston and Independent Financial Marketing Group ( IFMG) of Purchase, N.Y. to Toronto-based Sun Life Financial Services of Canada for $1.7 billion.

IFMG is a marketer of annuities and mutual funds to over 50 small and mid-sized banks across the United States, while Keyport is a provider of fixed and variable annuities.

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