Swiss Re calls off ReAssure IPO due to tepid investor demand

London fotolia
By Aidan Gregory
11 Jul 2019

Swiss Re is blaming weak investor demand for it postponing the £793m IPO of ReAssure, its UK closed book life insurance division.

“This action is in response to the heightened caution and weaker underlying demand in the UK primary market from large institutional investors,” said Swiss Re in a statement on Thursday morning.

At the 280p-330p initial price range, ReAssure would have been valued at £2.8bn to £3.3bn ($3.51bn-$4.13bn), implying ...

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