UK Insurance - Swiss Re deals rationalise UK life portfolio

News

Global reinsurer Swiss Re has rationalised its UK life portfolio in a double header of deals that sees the company taking on £3.7 billion of closed business from Zurich Financial Services (ZFS), while at the same time offloading the open books of recent acquisition GE Life, to UK insurer Liverpool Victoria, for an undisclosed amount.

Swiss Re has been focussing on what it calls its Admin Re strategy - an approach that seeks closed units of annuity business, and is named after the vehicle thro

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