Swiss Re mulls spinoff of UK closed-book life division
Swiss Re is considering a sale of its closed book life business ReAssure, possibly in 2019, in order to raise capital to buy more polices, a deal which could be worth over £875m.
Closed book life insurance consists of buying existing life policies from other insurance businesses and managing them but not underwriting new life policies.
Swiss Re acquires life polices from other businesses which are then managed by ReAssure, which sits within Swiss Re's life capital business.
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