Sun Life Financial, a Canadian insurance company, is reportedly considering acquiring more stake in its joint venture (JV) Birla Sun Life Insurance in India.

Sun Life Financial chief executive Dean Connor was quoted by Reuters as saying the company is exploring several acquisition opportunities in Asia and North America to boost its footprint.

"We continue to turn the soil over and look at a number of opportunities. We’re interested in more M&A activity if it makes sense," Connor told the publication.

"We have quite a bit of capital and balance sheet flexibility."

Sun Life has been on an acquisitive spree and has inked at least three agreements this year, including one to purchase real estate investment manager Bentall Kennedy Group for C$560m ($426.67m).

Birla Sun Life is a JV between Indian firm Aditya Birla Group and Canadian firm Sun Life Financial.

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Beisdes Indian market, the Canadian insurer is eyeing the Philippines, Malaysia, Indonesia and Hong Kong markets.