Swiss Re: proceeds to float ReAssure unit

(CercleFinance.com) - Swiss Re is proceeding with the IPO of its closed books unit ReAssure on the London Stock Exchange, and plans to publish its registration document today, the Swiss reinsurer said on Friday.


The publication of the registration document is the first step towards the share's listing on the main market of the London Stock Exchange, the group said.

Should ReAssure proceed with the IPO, Swiss Re would seek to reduce its stake from 75% at present to under 50%, it noted.

Swiss Re said in August 2018 that it was exploring a possible IPO of ReAssure, its business that focuses on the acquisition and management of closed books of life insurance policies, which are due to the discontinuation of unprofitable products, or as a result of mergers and acquisitions.

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