ZURICH: Swiss Re AG’s business unit Admin Re agreed to acquire Guardian Holdings Europe Ltd from buyout firm Cinven for £1.6bil (US$2.5bil) to increase its portfolio of UK life insurance policies.
The deal will give Admin Re an additional 900,000 annuity, life insurance and pension policies in the UK and Ireland and the purchase is expected to be completed early next year, Swiss Re said in a statement.
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