News Reinsurance05 Aug 2019

Swiss Re subsidiary set to acquire closed book business

Swiss Re's subsidiary ReAssure Group has agreed to acquire UK-based closed book business of Quilter, consisting of Old Mutual Wealth Life Assurance and its subsidiary Old Mutual Wealth Pensions Trustees, including about 300 employees. The total consideration of the transaction is GBP425m ($514m) with the acquisition adding over 200,000 customer policies and GBP12bn of assets to ReAssure's platform.

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